March 31, 2020—Q&A about financial impact of COVID-19 with Matthew Clare, Officer, Commercial loans, Union Bank & Trust; Jill Robisch, Vice President & Senior Business Development Officer, National Bank of Indianapolis; David Barber, Vice President Commercial Lending, Campus USA Credit Union; Tom Bomberski, President, Billhighway; Fred Maglione, CEO OmegaFi; Greg Buehner, Director, Pi Kappa Phi Properties; and Judson Horras, NIC President and CEO
Resources referenced in discussion:
- SBA To Provide Economic Injury Disaster Loans For Coronavirus Related Economic Disruptions (powerpoint)
- The Small Business Owner’s Guide to the CARES Act (PDF)
Key Points:
- Reconfirm good cash management and fraud protection practices with chapters.
- Be working on budget scenarios at the headquarters level now and how you can manage decreases in revenues.
- House corporations should proactively communicate with their lenders before there are problems.
- Do you have a plan to apply for SBA loans?
