Funding & Cash Flow During COVID-19

[aturrell]

This forum topic is focused on funding and cash flow during COVID-19. It includes anonymized responses from a conversation with MAPP members. Use this area to ask questions and share experiences on this topic.

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[aturrell]

[Member Response]

An additional step we are seeing to improve cash flow is your bank’s willingness to waive your covenants for 6- months and restructure your debt. They do not want you to fail, and the federal government remembers their bail out and is telling them not to let you fail.

Consider using some of the money to gap the wage difference between unemployment and regular wage for your key people.

[aturrell]

[Member Response]


Apply for an SBA disaster loan. The requirements for the loans are being loosened to allow private businesses of any size to tap into these low interest, long term loans.

They are rolling the SBA loan out to states and counties; some states and counties are very slow in getting this implemented

[Troyonix29]

One MAPP members just told me that they are literally viewing every entry on their chart of accounts and ridding non-essential services. (He just found a very specific wast hauling monthly service charge at $1250 per month that was discontinued over the weekend.