Talk to Your Lender

Don’t wait. Get in touch with your lender now if you are experiencing or expect to experience cash flow problems.

Plan for the Next 3-6 Months

Many businesses may have sufficient funds or access to capital for the first 2-3 months; however, we don’t know how long this will last so look ahead. Plan in terms of a potential lengthening of the pandemic, but also in terms of how you will handle a recovery, and re-opening of a business if you are currently closed. 

Gather Documentation

All loan programs still require some information in order to underwrite the loan, including the ones created through the CARES Act. Be ready to produce required documentation quickly to help your lender with your application. 

Don’t Panic

There is plenty of liquidity in the system so don’t panic and draw on lines of credit unnecessarily. Just like we are encouraging consumers to keep excess cash in insured financial institutions, keep the lines of credit intact until you absolutely need to access them. There may be costs associated with accessing those and if you don’t need to incur the added expense, don’t.

Have Patience 

The industry wants to help you through these unprecedented times but not all programs are in place yet ad even, when they are, technology can cause hiccups or delays.


Please call us at 701.852.3711.