We want to keep our clients updated on the latest business related COVID news as well as what all of us at BudgetEase are up to.
Not rendering correctly? View this email as a web page here.
Welcome to our weekly communication to share what we are seeing and help each other during this challenging time. Like you, we have been social distancing for three weeks and so far it has worked. We are all healthy as we hope that you are too. The biggest challenges in the past week have been:
Applying for the PPP for ourselves and our clients
Dealing with the uncertainty of the unclear funding from the SBA
For one of our teammates, Christie, missing the birth of her 1stgrandchild due to travel restrictions and safety concerns
Quick recap on the SBA programs for small businesses:
You can only apply for PPP through your bank and for the EIDL through the SBA website. Those that have already applied need to sit and wait for funding. If you have any questions, give us a call.
What can we do now:
If you haven't applied for PPP or EIDL, or know someone who is confused, please check out our COVID-19 Resources Page for information on both programs or call us; we can help. You may be better off than those of use who wasted time last week working to apply. You have until June 30thand the expectation is there will be plenty of funds.
Be strategic. Focus on what you do well. What would you like your dream organization to look like in one year? What can you do this week to get there?
Be super patient. Many people are not comfortable with virtual technology and it will take them time to adjust. Also with people working from home, it's generally accepted now for dogs and kids to be in the background. It's hard to have a professional meeting with a loud spouse in the next room and a leaf blower going outside. So be patient with others.
Reach out to clients, if possible. Rethink what you are doing for each one and adjust if necessary.
Stay in touch with everyone on your team.
Estimate cash flow for the next 2 months. Do scenario analysis to make sure you get through.
Check your AR. Will there be some slow pays?
Request delayed payment on loans (even some mortgage companies), health insurance, credit cards, and rent.
Suspend all non-essential subscriptions. It is nice to get the WSJ and Crain's but subscriptions add up. What do you need?
Where are you in dealing with COVID-19?
What BudgetEase is doing:
Like you, we have lots of virtual meetings everyday, which can be a time drain. And yes, we have watched Tiger King on Netflix. Here are some other things we are doing for fun:
Painting by number, playing games, beautifying our driveway with chalk art, and spending time outside.
Enjoying daffodils, forsythia and hyacinths blooming outside, as well as daily walks.
Finished a half bath in our back room that was started 19 years ago.
Made 82 masks for assisted living coworkers, daughter in healthcare, friends and family using all the fabric I accumulated for sewing projects over the years that never got done. There are 22 people out there wearing my 2000 Easter dress as a face mask.
Gave a face-lift in our library. My daughter, the school teacher, is using the library for her Zoom Classes.