For those of you who are struggling with cash flow due to COVID-19, below are some tips we gathered to help for the next couple of months. If you haven’t already:

  • Office Rent: Call your landlord to ask for rent deferral for a couple of months. It never hurts to ask!
  • Mortgage: Call your banker to see if they can help defer your mortgage for home or business building for the next couple of months. Our understanding is that bankers are working with employers and granting payment deferrals at this time.
  • Workers’ Compensation: Call your insurance agent and ask them to endorse your Workers’ Comp policy with the updated payroll information. If your business has been severely impacted, where you had to temporarily or significantly reduce your staff, you may be able to reduce your WC payroll premiums. If you are on a Pay-As-You-Go model you should be good. For those on traditional premiums, Pay-As-You-Go is worth looking into on your next policy term. We can help with that if needed.
  • Partial Unemployment Claim: If your state is offering this service, and you have staff working for reduced hours, please file a claim to help out your employees.

 Different Loan Options Available and Details of the CARES Act

  • CARES Act: Here is an easy to read document shared by our banker. We found it to be very helpful. 
  • SBA Loans: Apply for an SBA loan.  You can apply for both an SBA loan as well as a Stimulus package loan.
  • Paycheck Protection: To stay current on when these programs become available, please stay in
    contact with your local Small Business Administration (SBA) District Office, which
    you can locate here

Georgia Partial Unemployment