3/26/2020 Covid-19 Update – SBA Financing
We sent some general info on SBA financing two days ago and the SBA website continues to crash so it’s hard to see the forms, get information and apply online.
Ami Kassar, who founded Multifunding about ten years ago and continues to help the private business community with lending solutions, has graciously offered CFO Forum participants to his webinar-NOON on Thursday (TODAY) and NOON tomorrow (Friday). Some info is below AND the link is at the bottom.
Many thanks to Ami. I am not surprised he is in front of the curve on this info! Visit www.multifunding.com to learn more and to register.
Maybe I can get Ami to attend one of our meetings and share his knowledge and best practices with us once we are allowed to have a meeting!
PS I know several of us have already started the application process-if you have, please share any advice or tips back to me and I will share them.
Meanwhile, I am trying to get space on the www.thecfosolution.org site to catalog the information that we have been sharing with you. I know email blasts are clunky but it is the quickest way right now.
Business owners and entrepreneurs are increasingly concerned about the impact of the Coronavirus on their businesses cash flow over the next 6-12 months. The hope is that the government backed or issued loans will offer the relief that small-mid-sized businesses need to survive.Ami Kassar, www.multifunding.com
We will review the SBA Emergency Injury Disaster Loan (EIDL) and bolstered regular SBA program criteria the government are offering, with focus on key elements that have come out of the CARES Act.
In this one-hour interactive session you will learn:
· SBA emergency loan status – after CARES Act approval
· Existing SBA program initiatives – after CARES Act approval
· Importance of filing 2019 returns
· Do you have liquidity you can leverage?
· Calculating Operating Expenses (6 mos. burn rate)
· Online loans to watch out for and stay away from