As we’re all still reeling from the fast and ever-changing environment — both in our personal and business lives — we’re slowly starting to adjust to a new reality and settling into a ‘new normal’.
Small businesses are beginning to see the impact of consumer panic on their cash flow from closed restaurants, cancelled flights, cancelled events, reduced business activities, and social distancing. We’ve heard and read about many heartbreaking stories about short-term cash flow issues resulting in layoffs, reduction in salaries, and even immediate business closures. What was once a period of immense growth and opportunity has now morphed into a major economic downturn, which we now have to face.
We’re working through the most dynamic and uncertain times. The last 2-3 weeks has been challenging for us all, as we switched to remote working and ironing out most of the operational challenges. The PayPie team is safe, working remotely and practicing social distancing. While not the same as being shoulder-to-shoulder in the office, we’re learning to adjust working virtually with a high degree of effectiveness. We’re constantly monitoring the situation and taking all actions necessary, to ensure that our customers will continue to receive the seamless and convenient cash flow forecasting and financing options that they have come to expect from us.
“Never take your eyes off the cash flow because it’s the lifeblood of business.”
-Sir Richard Branson
Cash flow has become the topic of the day. Never has the monitoring of cash flow and forecasting become more critical. This is the moment to take charge and harness the power of cash flow forecasting to assist your clients’ financial situation in actionable ways.
“The best way to predict the future is to create it.”
Importantly, PayPie not only keeps track of your cashflow but also can help your clients get much faster access to relief funds from SBA Payroll Protection Program (PPP) through our network of SBA-approved lending partners. If your client is approved for an SBA PPP, they’ll have access to 2.5 x of their average monthly payroll in relief funds. This money can be used for payroll costs, rent, utilities, and mortgage obligations. Loans used for these expenses may be eligible for a 100% forgiveness incentive. Our simple and quick process takes only few minutes. No credit check is needed and no fee is charged to provide this service. Time to do it is today to inject cash in the bank of your clients.
Even though the credit market is tight, there are lenders willing to help the small business community and provide funding options. More importantly, there are many businesses that should be strong and thriving, even in this economy, and we are in a good position to help them in obtaining the required capital. This is especially relevant for medical establishments, drug stores & pharmacies, janitorial services, essential manufacturing, grocery stores & retail, etc.
PayPie has decided to offer our fully functional app for free until June 30, 2020 to help in this challenging time. Click https://bit.ly/3aSyrlJ and connect your QuickBooks Online to monitor cash flow in actionable ways. Use ‘what-if’ forecasting scenarios to plan ahead and come on the other side.
We know that times are challenging for everyone. We at PayPie wish that you and your families stay healthy and safe. Go ahead and create a picture of current and future cash fluctuations before they happen with or without funding.
“When you face difficult times, know that challenges are not sent to destroy you. They’re sent to promote, increase and strengthen you.”