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Many Small Businesses Are Relying On Credit Cards: Should You?

A new CreditCards.com poll paints a bleak picture for small business owners struggling during Covid. The survey finds that 35% of small business owners in the US are using personal credit cards and savings to stay afloat.

The survey finds that 7 out of 10 business owners have used a PPP loan, personal credit cards, or business savings (or a combination of all three) to stay in business. 32% of poll respondents said that they need help from customers to stay in business this year, and many are making pleas to the public for help.

Help for Florida Business

The state of Florida has created a survey for small business owners that will help the state track the need for funding and other government help. The survey notes that any business struggling should register with FEMA for assistance. A portion of the study details the types of loans available now (or in the future) for small business owners.

At present, the two areas in Florida that have been declared for individual assistance include Jackson and Leon. Residents in other areas are still encouraged to fill out the state survey to obtain help available on the state level. When we tested the FEMA form for the two counties listed in Florida, we did not see any additional forms.

We did find some more information about local business help through the federal government on this site. The government also began accepting applications for disaster loan assistance for small businesses. If you fill out this application, make sure that you follow the instructions precisely to avoid an application delay.

Another state resource, Florida Disaster Biz, is worth looking at if your small business is currently struggling. This website may help determine which loans are available to you and what you can do other than dip into your savings or use a personal credit card.

Our Thoughts on Using Credit Cards to Bridge Gaps

Once you begin using a credit card to keep your business alive, it’s hard to stop. If there’s no relief in sight, no loans or help that you can apply for, and your business is struggling monthly, using a card will mean a large bill that you cannot pay at the end of the day.

It’s undetermined how long Covid-19 will last and whether or not we will go back to any kind of previous “normal.” What can you do in the meantime? Try to apply for as many state and federal assistance programs as you can.


Put in the time to make sure your paperwork is filed correctly and do as much research as you need to to find bridge loans that will help.


If your business is struggling beyond the point of no return, we suggest that you cut your losses (as hard as that is -- and believe us, we understand) and close your doors. If you need any assistance with bankruptcy filings or other help, please reach out. We are always here for our neighbors.