COVID-19 Business Resource Center

April 6, 2020
The Foresight Companies Blog Covid 19 Business Resource Center

Department of Labor Issues Families First Coronavirus Response Act Regulations

Effective April 1st, the U.S. Department of Labor (DOL) issued temporary regulations for the Families First Coronavirus Response Act (the “FFCRA”) that outlined the requirements for employees giving notice and the supporting documentation required. The FFCRA provides employers with fewer than 500 employees funds, in the form of refundable tax credits, to reimburse them for the cost of providing employees with paid sick and family and medical leave for reasons related to COVID-19, either for the employee’s own health needs or to care for family members. Up to two weeks of paid sick leave is available to qualifying employees.  An additional 10 weeks of partially paid expanded family and medical leave is available to some employees when their children’s school or place of child care is closed.  To request leave, an employee is not required to provide a note from a […]
April 3, 2020
The Foresight Companies Blog Covid 19 Business Resource Center

What You Should Know About Volatility & Financial Planning

During these uncertain times, many people are unsure about how the financial markets will play out and are left not knowing how their personal and business finances will be affected. Our affiliate, Roosevelt Investments, put together a comprehensive guide featuring seven financial planning opportunities to consider in light of recent financial market volatility. In general, this guide can help you navigate and identify which opportunities may be helpful to you. To view these opportunities, click the button below. As we are learning to navigate through these times of uncertainty and adjust to our new normal, we here are at The Foresight Companies want to be your go-to source for all topics related to your business operations. Please visit our COVID-19 Business Operations Resource Center frequently for updates. *Please note that as information is updated and modified, terms and conditions are subject to change. Wealth […]
April 2, 2020
The Foresight Companies Blog Covid 19 Business Resource Center

Important Updates to the Paycheck Protection Program

On Friday, March 26th the Paycheck Protection Program (“PPP”), one of the key stimulus provisions of  the COVID-19 economic recovery initiative was signed into law.  The SBA has further clarified details of the program. PPP is still a key program that we believe will work well for your funeral homes and cemeteries. We recommend you contact your current banking relationship immediately. Links have been provided at the bottom of this document for the SBA Paycheck Protection Program Application Form as well as the Paycheck Protection Program Information Sheet: Borrowers. Application Timeline Starting Friday, April 3rd – small businesses and sole proprietorships can apply Starting Friday April 10th – independent contractors and self-employed individuals can apply The loan application process will remain open until June 3oth, but it will be on a first-come-first-served basis Where Should I Apply You can apply […]
April 1, 2020
The Foresight Companies Blog Covid 19 Business Resource Center

Dealing with Reduced Cash Flow Issues during the COVID-19 Pandemic

It is important that you develop a business recapitalization plan to help your business prepare for reduced cash flow by doing the following: Build a 13-week cash flow statement Negotiate with your lenders or new lenders Evaluate whether or not you should recapitalize your business Seek alternative and junior capital sources Business Liquidity Assessment Begin by assessing the following variables related to your cash flow so you can understand your business’s working capital situation: Determine the amount of cash, including accounts receivable you know you will collect, that is immediately available to you. Forecast your cash burn rate, which is the amount of money your business spends, for a month. Determine how much debt you have and your ability to meet all your financial obligations. Debt Covenants The US Department of the Treasury and the Federal Reserve are currently assessing […]
April 1, 2020
The Foresight Companies Blog Covid 19 Business Resource Center

Financing Options You Can Benefit From During the COVID-19 Pandemic

There are many programs that the government has provided to assist you if you’ve experienced business disruption as a result of COVID-19.  We can help you decide if and what programs you might benefit from the most. Understand your cash flow needs so you have a broad picture of your business’s ability to fund its obligations during the next quarter and during the next year: Determine the amount of cash, including accounts receivable you know you will collect, that is available to you. Determine your overhead obligations over the next quarter and the next year, including all operating costs. Determine what you expect your revenue to be over the next quarter and the next year, considering different scenarios that may affect your business. Know where you can access the capital you will need: Government Assistance Programs SBA 7(a) loan program […]
Call Now Button
The Foresight Companies Home Page Floating Banner