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4 – Financial Future Assessment

New financial projections and assessments must be put together based on the current situation. Begin by reviewing the questions below and then the topic-specific resources.

  • Have you completed a cash flow forecast?
  • Have you done financial projections that incorporate the current situation?
  • Will you be able to afford current debt payments?
  • Will you be able to reopen using existing financial resources (from the business or your own)?
  • Will you need to look for additional financial resources from investors, banks, lenders, or a mix?
Personal Assessment
  • If you are seeking debt financing, have you determined for what reason you are seeking the money (i.e. to replace inventory or buy equipment), the length of the loan term, and how much you will need?
  • For existing debt financing arrangements, have these been reviewed to ensure that the finance facility and structure fit the new needs of the business? Can any term be renegotiated?
  • Have you used these forecasts to run ‘what if’ scenarios to measure how your cash flow will be impacted by further unexpected events or limited revenue?
  • Using these financial tools, have you analyzed the business’s financial health? After reopening, how long will current financial resources last if revenue is slow?

Webinars

Beyond Covid-19 Webinar Series: Funding and Financing In-depth Webinar

Webinar Link-Registration Required (Free)

  • Introduction/Agenda/Weekly update – (4.5 min)
  • Howard Pisons, VSBFA Executive Director –VSBFA Overview - (10 min)
  • Zachary Petry, Small Business Lending Manager, VCC – PPP loan
        • Introduction to VCC - (1 min)

Robert Day, Chief Financial Officer - From the perspective of Advantage Engineers, Inc.

  • What was done when COVID-19 began - (3.5 min)
  • PPP loan experience - (4.5 min)
  • Looking forward – (2.5 min)
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Q&A/Closeout - (20 min)

Questions

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