Covid 19 Business Help Center

How to make ends meet during the crisis

Even if you are fortunate enough to have cash reserves to make expenses for several months, recent action by the federal government has made available loans which may be forgivable if certain bench marks are made. See the program here. Also other programs are available under the disaster assistance program from the SBA up to 2 million dollars to assist with business expenses. These can be found at the SBA website here.

If the crisis is going to change your real estate needs long term, we are available to discuss your current situation and recommend some options for right sizing your footprint.

Should I make Rent or Mortgage Payments

The short answer is, yes. If you are able to make these payments, you should do so. There is not any program that has waived or deferred rent and mortgage payments and you could run up late fees, penalties and legal fees. Worse yet, it could keep you from receiving other financial assistance down the road. We recommend that those unable to make there agreed payments, contact their landlords as soon as possible to talk about what opinions they have to get caught up and make sure they avoid legal action.

If you have specific questions about your lease or property, we are happy to help by phone or online chat.

Conversations with Employees

One of the hardest things to tell an employee is that you aren’t able to afford to keep them on the payroll. If the programs above are not an option for you, be compassionate and honest. Tell your people why you are unable to keep them on, and tell them as soon as you can. Pointing them towards resources, such as local unemployment application websites or financial assistance opportunities may help them get a solid footing more quickly as well.

If you are able to find a way to keep your employees on, its still a good idea to give them updates on where the business stands and what is going on to keep their jobs safe. Periods of disruption are the easiest times for competitors to pick off your best people. Clear and honest communication, even if it’s not the best of news, helps gain your teams buy in to the overall goals and objectives.

If you have any questions not addressed here, we have our team standing by, ready to help. Use our handy chat service, or give us a call by phone.