Cash is King During COVID-19 Pandemic

Cash is King…Especially Now

Cash flow has always been the lifeblood of any business. With COVID cases raging in some states and creeping upwards in our region, it is clear the pandemic will be with us for the foreseeable future. Whether your business remains on life support or has been on the road to recovery, managing cash flow is the key to survival. Reducing expenses, billing and collecting receivables quickly, and planning out ahead even when the future remains uncertain at best.

You may have worked through a PPP Loan, EIDL funds and could be considering one of the Main Street Loan Programs lenders will be offering with backing from the Federal Reserve. Access to these funds may be a lifesaver, but you have to be especially careful when working with borrowed capital. Mistakes with other people’s money means you are digging a deeper hole.

With or without outside funds, careful planning and “what if” scenarios looking out 90-180 days are critical. You need more than excel spreadsheets. This is where we can come in. Our Virtual CFO support can give you a high level look at your finances from an expert as you need it. We can help you take an objective look at the business, make sure you account for every factor and develop plans that will help you achieve a healthy outcome.

We are also helping businesses jump through the complex hoops associated with the various grant and loan programs – both applications and forgiveness. Every business has unique opportunities and challenges during this time. Contact us today for help working through yours.

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