The sudden appearance of and subsequent upheaval caused by the novel coronavirus, COVID-19 is certainly unprecedented. While we have all as a result entered into quite unfamiliar territory, at Czarnowski & Beer we have been working around the clock to create resources that help our clients navigate these uncharted waters.
With all non-essential businesses shutting down and the added sense that we have no idea how long this will continue, we are doing what we can to help reduce the sense of fear and overwhelm that is plaguing many persons in the cooperative and condominium industry by creating the following guides and resources:
To help our clients better understand the new programs that are available to them, we have created a comprehensive guide outlining the provisions laid out in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The document provides an overview on the three most popular options in the Act that can provide a significant boost to your struggling cash flow. Click here to download.
How to Prepare for Disruptions to Your Property’s Cash Flow
The scenarios playing out in our present-day reality are so daunting they can create an extremely challenging situation for even the most well-prepared coop and condo boards, but fear not, we have identified a few action steps that can help you identify ways to manage your property’s cash flow and handle bulging budget deficits. Read the full article here.
Everything You Need to Know About the Paycheck Protection Program
There has been a lot of publicity concerning the Paycheck Protection Program (PPP) and in this post we dive deep into what it is, how you can apply and raise important questions that will help you determine if applying would be the best decision for you at this time. Read it here.
The Cash Flow Checklist: Actions Your Board Can Take to Protect Against Shortages
While it is ultimately best to consult a trusted Certified Public Accountant to help you navigate your way forward, The Cash Flow Checklist quickly outlines ways you can prepare for disruptions to your property’s cash flow and significantly help you manage your property’s financial during these uncertain times. Click here to access the entire list.
Why Coops and Condos Should Apply for an Economic Injury Disaster Loan
Since the enactment of the CARES Act the spotlight has been shown on PPP loans and provisions made by that program, but what many people don’t know is that the Economic Injury Disaster Loan (EIDL) may at present provide even better opportunities for coops and condos. Read the reasons why here.
The Czar Beer team is dedicated to providing timely, accurate information on all aspects of the CARES Act and the current economic crisis that affect our clients. The information in the resources listed above should provide some assistance and give you confidence that you’ll be able to weather this storm.
However, as this is all developing quickly we are here to offer support in any way we can. Download our proposal document here for more guidance. You can also email us at info@czarbeer.com or call (212) 397-2970 for more information.