CarmCast 063: SBA Disaster Loan Assistance – Covid-19

What we know so far with Hunt Demarest, CPA from Paar, Melis and Associates

None of the information given would qualify as expert knowledge. The landscape of solutions is changing by the hour. Be careful and consult your accountant or banker.

• https://disasterloan.sba.gov/ela/
• We talked about the Department of Treasury ‘Stage Three Proposal’
  • Small business interruption loans
• Anything new we will hold another CarmCast
• There may be changes to FMLA (Family Medical Leave Act)
• Hunt suggests making two columns.
  • What you must pay for
  • What is not critical to sustain the business and can be held off
• Having a strong cash on hand position is very important. If you don’t you must figure out how to preserve your cash. Cash is king.
• Collect your Accounts Receivable