Client, I’m glad we’re having this conference call because we need to have a frank talk. To survive COVID-19, your business must take realistic stock of its situation. If there is an issue meeting periodic loan repayments or financial ratio requirements, reach out to lenders for relief. Be proactive and transparent with vendors. Do it, today, not tomorrow, when it might be too late.

Economic conditions have deteriorated so fast that our financial system has a systemic problem. Rather than deal with borrowers on a one-off basis, banks will to try to work with you.