Financial Resources Toolkit – 4/3/2020 Update

(April 3, 2020) Ollis/Akers/Arney’s vision statement is “protecting tomorrow, today”. That vision goes far beyond the simple placement and servicing of insurance policies. In assessing the risks brought on by the emergence of the COVID-19 virus, we quickly determined that cash flow and the ability for businesses to navigate financial duress will soon become critical.

Legislation has already been passed to address some issues and other legislation is hopefully on the horizon. Especially timely is the passage of the CARES Act which includes the Payroll Protection Act (PPA). You can work with any SBA approved bank to apply for this emergency loan that may be forgivable. Please check the provisions for qualification and reach out to an SBA approved bank for further details.

We have designed a toolkit of financial resources to provide help to businesses and individuals with quick and easy references to learn about the programs and resources. We have included information and applications for the Payroll Protection SBA loan. As circumstances around this pandemic and financial crisis are rapidly evolving, this toolkit will evolve and expand moving forward.

The two things we cannot stress enough in this environment is the need to be proactive and communicate. You’ve likely heard the phrase “dig a well before you’re thirsty”. Now is the time to explore and apply for assistance. You have to seek out and apply for most of these programs. They will not be automatic.

We’ve divided this toolkit into easy to follow tabs:

• What’s New (This will be updated weekly)
• Insurance Premium Financing
• Legislative Relief
• SBA Loan Programs
• Layoffs, Furloughs, and Reduction in Hours
• Unemployment
• Local Banking Resources

We hope this resource is of value to you and your business.

If you have ideas or suggestions of other programs or services that should be included, please share them with us. Through a community effort and helping one another, we can all weather this storm.

As we’ve communicated previously, we’re ready and able to help. Please let us know if you have questions, need advice or access to resources.

With appreciation,

Click here for the Coronavirus (COVID-19) Financial Resources Toolkit