In response to COVID-19 local, state, and federal governments have rapidly provided several resource options for small businesses. However, the various programs and separate application processes can be confusing. While each application is different, they are very similar in many ways.
The key to any application is to have solid financial statements prepared. With a little preparation you will be able to finish any application.
Here are the core elements of any resource application:
- 2017, 2018, and 2019 (if already filed) Tax Returns
- Interim Financials through February 29th
- Schedule of Liabilities
- Ownership Details
- Personal Financial Statements
- 2020 Estimates: Revenue, Expenses, Payroll, & Cashflow
Our message to our clients: take the time to prepare solid financial documents now, then apply to any and all plans you feel are appropriate for your business. Well-prepared financials will make a stronger case for your approval and in most cases applying does not commit you to taking the funds. The approval process takes time and once you are approved, we can help you decide which funds are right for you.
If you need help with any program application, we are here for you.