Economic Injury Disaster Loan Program (EIDL) During Pandemic

Return to Pandemic Playbook main page The federal government offers two programs. One is the Paycheck Protection Program (PPP) and the other is the SBA Economic Injury Disaster Loan (EIDL). The EIDL program offers loans up to $2 million to give working capital to small businesses impacted by COVID-19 when they are unable to obtain credit […]

Not for Profit Organizations

Return to Pandemic Playbook main page Not for Profit organizations have to consider the same pandemic considerations as for-profit businesses —but they also have their unique mission and stakeholders to consider. FOR SERVICE PROVIDERS Prioritize your mission and focus on the basics needed to keep the organization afloat. Focus on the most vulnerable and your areas […]

Coronavirus-related seminars, summits, and other events

Return to Pandemic Playbook main page UPCOMING EVENTS Friday, April 3 2:00 PM EST – Clinical Update, SBA Disaster Loan Program, Business Interruption, and Engaging Employee Health & Well-Being – Brown and Brown Insurance, New York – Free ON-DEMAND WEBINARS Tax Implications of the Coronavirus for Individuals and Businesses – Marcum Tax and Business Services How […]

Paycheck Protection Program

Return to Pandemic Playbook main page Paycheck Protection Program Broad outline: Eligible entities are businesses or non-profits under 500 employees Self-employed, independent professionals and gig workers are covered (“payroll” = average monthly net earnings over the past twelve months) Restaurants and hotel chains with under 500 employees per location Max amount of loan = monthly payroll […]

Consulting firm resources on the pandemic

Return to Pandemic Playbook main page RESOURCES McKinsey – “Learning Through the Crisis” – multiple articles BCG – “Leadership, Resilience, and the COVID-19 Outbreak” – multiple articles Bain – “Tracking the Global Impact of Coronavirus” – multiple articles AlixPartners – two-page checklist on business continuity during coronavirus   Please send suggestions to improve this playbook to […]

Discuss options with vendors

Return to Pandemic Playbook main page Please send suggestions to improve this playbook to pandemic@umbrex.com POINTS TO CONSIDER Affirm your commitment to meet all of your obligations in the long run – you just need help to get through this period. No one wins if your business becomes insolvent. Make sure you contact a decision-maker at […]

Leading the Change

Return to Pandemic Playbook main page In the current crisis, Business leaders will have to make difficult changes, and pivot to new opportunities, while reducing costs and staff.  This is logically and emotionally demanding. Below are some resources that might be useful against the key tasks.  Key Tasks: Make your brand as human as possible by […]

Estimate Insolvency

Return to Pandemic Playbook main page   Filing for personal or corporate bankruptcy might be your final chance to save your business as it allows you to reorganize your liabilities and start from zero while protecting your IP, and, to some extent, assets.  To assess if this is the right option for you, start making […]

Key person risks in the pandemic

Return to Pandemic Playbook main page Please send suggestions to improve this playbook to pandemic@umbrex.com During the pandemic, there is a greater risk that a person key to the functioning of the organization may become incapacitated. Take steps to ensure the organization can continue to run if key individuals become sick. RECOMMENDATIONS Business owners may want […]

Establish guidelines for the new way of working in the pandemic

Return to Pandemic Playbook main page Please send suggestions to improve this playbook to pandemic@umbrex.com RECOMMENDATIONS Secure a comprehensive spreadsheet of: Everyone’s details (staff, trustees, suppliers, clients/customers/beneficiaries, bank & other advisors) Any critical account numbers/ essential logistics Work out the new rhythm of meetings (frequency, duration, format, platform, etc)  Establish protocols for working remotely and […]