Helping Business Leaders Through COVID-19
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How can we help business leaders navigate this crisis without stuffing you with more info that you don’t have time to read? FIRST, we decided there are three things that business leaders need to be focused on during this crisis. Everything else flows from these three:
# 1 – Health –
How can you keep your team safe? How can you help them stay mentally strong? The doom and gloom and 24/7 news cycle can get to any of us. We are seeing stress related illnesses and increased use of alcohol and drugs. As leaders, how can we lead the way and point our minds and the minds of our teams to a healthy tomorrow? We’ll point you to the CDC for the physical health side and we’ll point you to the best resources we can find on leading with optimism and helping your team stay mentally strong.
# 2 – Cash –
How will you as a business survive this? How can you keep paying as many people as possible? Knowing your numbers and doing everything you can with the stimulus options are critical right now. We are helping business leaders navigate the stimulus and cash flow issues daily and will give you the best and the latest we have to help you.
# 3 – Leadership / Strategy –
These are amazingly tough times for all of us. Leaders are in leadership positions because they have proven they can handle heavier loads. If this load is heavy for you, it is much heavier for those you lead. They probably don’t have the skillsets you have to deal with this kind of stress. This is where you can help by giving them tools and being an optimistic, steady hand during these times. We must innovate to survive. Your business model might have been trashed overnight (retail, dine in restaurants), or you are dealing with new roadblocks to continue to serve your clients (social distancing, working from home). We will all need to make pivots to survive this and come out stronger.
SECONDLY, we’ll work to put the best, most up to date resources to help businesses and business leaders on this post. It will continually be updated so you can always check back HERE to get answers to your questions, and access resources to help you navigate your business during this challenging time.
We will come out of this stronger – as a nation and as a global community. We are praying for you and will do everything we can to help you navigate through this.
Latest Update
May 28, Thursday: Great infographic! How to weigh the risk of going out in the coronavirus pandemic, in one chart.
May 26, Tuesday: The true heroes are those on the front line of this fight. This is a light-hearted take on how the rest of us can do our part.
May 24, Sunday: This needs to happen quick! VP Mike Pence says business owners may receive PPP loan extensions – Atlanta Business Chronicle
May 24, Sunday: Good news. Coronavirus ‘does not spread easily’ by touching surfaces or objects, CDC now says. But it still ‘may be possible’.
May 23, Saturday: Yikes. CDC estimates that 35% of coronavirus patients don’t have symptoms.
May 23, Saturday: This is a great overview of current testing options. The Latest on Coronavirus Testing: New Methods, Accuracy, and Availability- GoodRx
May 22, Friday: More good news. Monkeys infected with COVID-19 develop immunity in studies, a positive sign for vaccines.
May 18, Monday: Rules could be eased this week. U.S. Expected to Revise Small-Business Aid Program.
May 17, Sunday: SBA releases coronavirus PPP loan forgiveness application.
May 16, Saturday: Awesome! The lockdown isn’t stopping these kids from helping senior citizens through the pandemic.
May 15, Friday: SBA allows increased PPP loans to partnerships, extends safe harbor to May 18.
May 14, Thursday: Good news! SBA provides safe harbor for PPP loans under $2 million
May 13, Wednesday: Lawmakers working to make the PPP program more effective. Bipartisan lawmakers introduce bill to make changes to Paycheck Protection Program
May 12, Tuesday: Great questions we should all be asking! The 6 Questions Every Business Needs to Ask Themselves During COVID-19
May 12, Tuesday: PPP Loans – Still lots of unknowns. Small Firms Join Rush to Return Loans After Rules Revisions
May 11, Monday: If you don’t set up direct deposit, you’ll have to wait to get your check in the mail. IRS sets May 13 deadline to submit direct deposit information for stimulus checks
May 7, Thursday: The IRS has issued rules on how to return stimulus checks that were sent in error. Stimulus payments sent to dead people must be returned, IRS says.
May 6, Wednesday: This round of PPP funding may be exhausted by Friday. Here is what might come next. Pelosi signals support for massive new payroll subsidies as small-business loan fund nears expiration.
May 4, Monday: Great insights from inside the ICU. Keep social distancing. You are saving lives when you do. Thank you to all the front line workers! FRONTLINE HEROES: Southeast Georgia Health System Medical Director of Intensive Care Unit Stephen Chitty
May 2, Saturday: Be prepared for scrutiny of PPP loans. Small business loans above $2 million will get full audit to make sure they’re valid, Mnuchin says.
May 2, Saturday: There are a lot of statistics and charts floating around that are often slanted to make a point. The stats in this article show that COVID-19 has already killed between 9.5 to 44 times more people than the flu. Interesting read if you are into statistics.
May 1, Friday: Expenses that are used for PPP loan forgiveness are not deductible. IRS Denies Tax Deductions For Wages, Rent Paid With Forgivable PPP Loans.
May 1, Friday: This is a great 45 minute webinar on PPP loan forgiveness. Presented by Jonathan Pocius of Payroll Services, LLC. You can view the webinar slides by clicking here.
Apr. 30, Thursday: Will your bank be one of those shut out? Big banks temporarily shut out of small business loan portal, Treasury and SBA announce.
Apr. 27, Monday: Small Business Loans Site Crashes On First Day Of Reopening.
Apr. 25, Saturday: Good advice on how to stay safe as you get out more in the days ahead. Headed Out? How To Stay Healthy Running Important Errands.
Apr. 25, Saturday: Great article on the updates to the PPP loan program. Five Important Warnings As The Paycheck Protection Program Opens Back Up.
Apr. 24, Friday: Another good one. Don’t forget about cash flow forecasting! 5 Things to Do After You Receive Money From a PPP Loan.
Apr. 24, Friday: Check on the status of your stimulus check here! Non-filers can enter payment info. Economic Impact Payments | Internal Revenue Service
Apr. 24, Friday: If you have received PPP loan funds, your 8-week clock has started. Great article on what to do next. Five Things Every Paycheck Protection Program Borrower Should Do After Receiving A Loan.
Apr. 23, Thursday: Great article on this topic if you are self-employed (you don’t get a paycheck). Self-Employed And Need A PPP Loan? The SBA Just Issued New Guidance For You.
Apr. 23, Thursday: SBA loan portal could open as early as tonight. Work with your bankers to make sure you are ready. House to vote on $480 billion relief package to help small businesses and hospitals, expand Covid-19 testing.
Apr. 20, Monday: Good news. Make sure your PPP loan application is ready to submit. Senate nears $370 billion deal for coronavirus small business loan programs.
Apr. 17, Friday: Helping our employees stay mentally and physically healthy during this crisis will be a key to surviving now and thriving in the future. Great resources here: Managing Workplace Stress During COVID-19 – BambooHR Blog
Apr. 16, Thursday: Great article on PPP loan forgiveness and all the things we don’t know yet! LINK: Ten Things We Need To Know About Paycheck Protection Program Loan Forgiveness
Apr. 15, Wednesday: What an example! 99-Year-Old British Veteran Raises $9 Million For Health Service By Walking Laps. Psalm 92:14 – They will still bear fruit in old age.
Apr. 14, Tuesday: Check on the status of your stimulus check here! Non-filers can enter payment info: Economic Impact Payments | Internal Revenue Service
April 13, Monday: CDC Has New Guidance For Essential Workers
April 10, Friday: COVID-19 Survival Guide for the Rest of Us
April 9, Thursday: Treasury Secretary Mnuchin says the government won’t run out of money for small businesses
Apr. 8, Wednesday: Where You Should Never Put Your Tax Refund – Clark Howard
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