Guidance for businesses and employers to plan and respond to Coronavirus disease 2019 (Covid-19). https://completecpa.com/coronavirus-covid-19-small-business-considerations/

1. COVID-19
Small Business
Considerations

2. BUSINESS INTERRUPTION INSURANCE
 Check your business liability insurance policy and/or contact your
insurance agent
 Items typically covered include: Lost profits, fixed costs, temporary
location, civil authority ingress / egress. Possibly the cost of additional
commercial cleaning of your business location.
 Often referred to as Contingent Business Interruption Insurance.
Usually a rider to your existing policy. Pays out when a business is
unable to operate because of a natural disaster or emergency that
prevents it from engaging in normal trade.

3. SOURCES OF WORKING CAPITAL
 SBA Disaster Assistance Loans – low interest loans to declared disaster
areas: https://www.sba.gov/disaster-assistance/coronavirus-covid-19
 These loans may be used to pay fixed debts, payroll, accounts payable and
other bills that can’t be paid because of the disaster’s impact. The interest
rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
 SBA’s Office of Disaster Assistance will coordinate with the state’s Governor
to submit the request for Economic Injury Disaster Loan assistance.
Information on the application process for Economic Injury Disaster Loan
assistance will be made available to all affected communities as well as
updated on our website: SBA.gov/disaster.

4. SOURCES OF WORKING CAPITAL
 Sell any of your under-used assets.
 Refinancing of business debt: rates are currently low and your finances
are stronger right now than in a couple of months when the potential
negative economic impact hits your numbers. Secure lines of credit;
just in case you need it temporarily.
 Set aside contingency funds. Even more important this year than in
the past for typical Summer slowdowns in Florida. Treat this like an
early hurricane season.
 Pay down credit card balances. Less high-rate interest expense will
improve cash flow.

5. SOURCES OF WORKING CAPITAL
 Consider a reduction in staff hours or possibly temporary pay
reductions to conserve cash flow.
 Plan ahead for potential capital contributions or loans to the business
from your personal funds.

6. TECHNOLOGY AND FINANCIAL
INFORMATION FROM HHH
 Become more efficient in the operation of your business by leveraging
technology to streamline processes. We can help!
 Are you set up for your employees to effective work remotely if your
business location is required to shut down?
 See trends developing as HHH rolls out graphical/visual looks at your
data.
 You are not alone. At HHH, your Client Managers, Bookkeepers, and
Payroll Department are here to help. We are assisting clients every day
with issues like yours and we strive to provide answers and guidance in
a way you can effectively apply to your business and individual
decisions.

7. WE ARE HERE FOR YOU!