One thing is for sure, the banks are not loaning money to small businesses! We at Bonita Payments authored a funding program to oﬀer our merchants working capital to help them make adjustments during the pandemic. “This was the biggest need that we found in startups and hospitality businesses within our footprint,” says Elliott Forman, Founder and President of Bonita Payments, a New Orleans, Louisiana-based merchant processing company. Having great ideas and not enough money is a normal position that many business owners find themselves in.
“We created a low entry point to help businesses that otherwise would not have qualified for a capital program,” says Elliott Forman. During the 2020 pandemic, we found that many businesses did not have the resources to transition their businesses to an online oﬀering or many of the other options to survive.
Bonita Payments tailored a creative working capital program to help businesses make more money and keep themselves afloat during this unsettling time. Many of the government sponsored programs came with unreachable stipulations that would discourage any business owner from completing the complex paperwork. With that in mind, we oﬀered a smart documentation process that was meant to get you funded and not frustrated.
Small businesses are the core of the U.S. Economy, and we are delighted to be a support to our customers who entrust us to provide payment processing.
Being from New Orleans, hospitality is the backbone of our city and we wanted to see those community shops endure the 2020 constraints that tipped several well-known establishments out of business. The future looks bright, and we anticipate 2021 to be a great rebound year for all the pandemic survivors. 2020 was the most challenging year for many businesses, and if they can make it through Covid-19, they can do anything.