The Paycheck Protection Program under the CARES Act offers critical capital to small businesses but has very specific and limited permitted uses. While the loans are potentially forgivable, there are important rules that limit and reduce forgiveness [Key Features and PPP Loans Interim Final Rule]. Coolidge Strategic Advisory Services has expanded its 13-week Cash Flow Projection Tool to include a tool for projecting and tracking use of PPP loan proceeds and optimizing the amount of loan forgiveness [Updated 13-week cash flow and PPP loan tracking templates rev 04062020.xlsx].
Your business is or will be under unprecedented pressure. We have created the Resource Center to provide you with critical tools to manage through this uncertainty, including a Toolkit, Cash Flow Projection template, and essential information for accessing government programs such as the Economic Injury Disaster Loans and the new Paycheck Protection Program included in the CARES Act.
While COVID-19 wreaks havoc today, Coolidge Strategic | Advisory Services (https://www.coollaw.com/Strategic-Advisory/) is thinking about your future and what you can do to protect it. In these situations, it is critical that businesses approach the dynamic environment like they were in a turn-around: Assess, Plan, Manage Cash, Communicate, Execute and Review. For an overview see: COVID-19: Urgent Two-Step Planning.pdf or contact us to discuss the planning process and tools for cash flow management and contingency planning in a difficult environment.
Running a business is hard. There will be times that every business owner will face an aggravated customer, an uncooperative vendor, a disgruntled employee or a difficult economic challenge. All of these situations are manageable, and the challenges can be overcome.