Surviving the Economic Downturn: Maximizing PPP Loan Forgiveness and Planning for the Future

1. SURVIVING THE
ECONOMIC DOWNTURN:
MAXIMIZING PPP LOAN
FORGIVENESS AND
PLANNING FOR THE
FUTURE
CITRIN COOPERMAN
citrincooperman.com

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3. 3
into
PATRICIA CUMMINGS
Managing Partner,
Philadelphia, PA Office
Chief Risk Officer
Managing Partner, Industries
AARON CHAITOVCKY
Partner,
Co-Practice Leader –
Franchise Practice
MIKE ZYBOROWICZ
Partner,
Co-Practice Leader –
Staffing Practice
KEVIN RYAN
Partner,
COVID Response Unit Leader
MEET THE PANEL

4. Today’s Discussion Topics
• Current update from Washington, DC
• PPP loans and other relief options
• Next steps after crisis management
• There are success stories – rays of
sunshine
• Q&A

5. Update from
Washington, DC

6. PPP Loan Value Data

7. Paycheck
Protection
Program
Data
There are still PPP funds available…

9. Some PPP Loan Forgiveness
Questions Were Answered;
for example…

10. Helpful hints

11. 13-Week Cash Flow
Your Cash Flow
$ Imperative to have a firm understanding of your
business’s outlook and cash flow needs
$ 13 weeks covers one quarter
$ Shorter duration brings more accuracy
$ Take granular view of your cash inflows and
outflows
$ Look for upcoming liquidity issues (and how
to correct them)
$ Arrive at a cash balance that you do not want to
dip below – THE MAGIC NUMBER
$ Be more proactive if you see A/R collections
lagging
$ Extend vendor payment terms and/or spread
out your vendor payments
$ Use this as a discussion tool with your partners,
investors, lenders

12. Success
Stories

13. 13
into
PATRICIA CUMMINGS
Managing Partner,
Philadelphia, PA Office
Chief Risk Officer
Managing Partner, Industries
AARON CHAITOVCKY
Partner,
Co-Practice Leader –
Franchise Practice
MIKE ZYBOROWICZ
Partner,
Co-Practice Leader –
Staffing Practice
KEVIN RYAN
Partner,
COVID Response Unit Leader
CLOSING COMMENTS AND Q&A

14. THANK YOU
citrincooperman.com