Unless you have been living off the grid for the past few weeks you understand that the world around you has fundamentally changed. The way we live and work will undoubtedly be different once this is in our country’s rear-view mirror. If you are like us, then you are asking important questions every day.
How do we pivot our business to make it through this?
Do we even have a need to pivot?
How will this impact our partners?
How do we ensure our continuity plans are effective?
What resources are available?
Who can we trust?
That last question is a tough topic and one that is causing confusion and frustration within our community. Rapidly developed and deployed stimulus packages are beginning to show signs that they are already stressed, even before they are fully implemented. The immediate needs of the small business community will rapidly overload the initial processing capacity of even the largest lending institutions while leaving many without options. We believe there will be further guidance issued in the coming weeks and months that further shape the scope and eligibility criteria of programs like the Paycheck Protection Program.
Looking at social media activity like this subreddit on small businesses, it seems what was once a bright beam of hope for millions of small businesses has quickly been reduced to a glimmer. We hope this is not the case. The small business community is the lifeblood of America and we hope to see additional programs and policies enacted to help get them through this trying time. Will cash flow positive companies that operate with no debt stand to be left behind even though they are suffering the downturn too?
Here at Eleven09 we remain capable and committed to our clients and partners alike. What impacts one of us, impacts us all. We will continue to offer our assistance to those that may need it. Please contact us should you have questions about resources that are available to you and your business.
We are in this together. We will emerge more resilient and efficient than ever before.
Here are a few additional resources from our network:
Latest Update on Paycheck Protection Program (PPP)
Telehealth Mental Health Services (Veterans and Family Members)
Small Business Administration COVID-19 Response Page
Department of Veterans Affairs COVID-19 Response Page
Financial Assistance Tracker for Businesses
Google for Small Business Resources
U.S. Chamber of Commerce Coronavirus Small Business Guide
IVMF Resource Guide for Taking Care of Small Business During a Pandemic
