Possible Wave Pattern of COVID Spread

[monsta666]

My office rent is low, and frankly, it's also very low on the priority list, as far as things that need to be dealt with right now.

If the current status quo carries on how long could your business last?

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[Eddie]

My business can last indefinitely....but at reduced income, which might require deleveraging on my personal side. ....but not for some time...a year or more.

I did get the EIDL loan, not that I needed more debt...but that was a no-brainer,  With that money in the bank, it becomes next year's problem.  I set up two new bank accounts...one for disbursing EIDL funds  and one for PPP funds. I just have to be careful to follow all the rules and not spend the money for forbidden expenses.

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[RE]

My business can last indefinitely....but at reduced income, which might require deleveraging on my personal side. ....but not for some time...a year or more.

A while back you said you were losing money and could only go 3-6 months.

RE

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[Nearingsfault]

My business can last indefinitely....but at reduced income, which might require deleveraging on my personal side. ....but not for some time...a year or more.

I did get the EIDL loan, not that I needed more debt...but that was a no-brainer,  With that money in the bank, it becomes next year's problem.  I set up two new bank accounts...one for disbursing EIDL funds  and one for PPP funds. I just have to be careful to follow all the rules and not spend the money for forbidden expenses.

we signed up for everything being offered as well. We will be paying for it for a long time to come so might as well was my thinking.

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[Phil Rumpole]

If I owned Eddie's clinic and he stopped paying, I would quickly sell with 'long term leased'. A big player would be the one to snap it up, possibly foreign investor, and they are thinking long term. They might lower rent or they might leave it empty. If the rent just covers expenses for the owner, there's no point either lowering rent or letting Eddie off paying, because he's going to lose his assett either way. When all that is finished, Eddie is blacklisted and nobody else will touch him with a pole.

 Much better to discuss the problem early with the owner or agent and get an agreement in writing to solve the problem. A long time ago I moved in to an apartment with a friend who was already there. I didn't know he was way behind on rent. I didn't want to lose the place so went in to the lease office and asked if I paid the arrears could I take over the lease. They said 'i strongly advise you to pay the arrears',  I handed over 600$ and they terminated it anyway.

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[Eddie]

My business can last indefinitely....but at reduced income, which might require deleveraging on my personal side. ....but not for some time...a year or more.

A while back you said you were losing money and could only go 3-6 months.

RE

That was when we were locked down and only seeing emergencies...so the situation has changed...and i actually said 3 months to a year, not 3-6 months. And that was with no bailouts...they came late.

I am doing better...hard to say how much....the  bailout has given us room to breathe...I doubt we will have to close now, unless the situation gets a lot worse.

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[Eddie]

My business can last indefinitely....but at reduced income, which might require deleveraging on my personal side. ....but not for some time...a year or more.

I did get the EIDL loan, not that I needed more debt...but that was a no-brainer,  With that money in the bank, it becomes next year's problem.  I set up two new bank accounts...one for disbursing EIDL funds  and one for PPP funds. I just have to be careful to follow all the rules and not spend the money for forbidden expenses.

we signed up for everything being offered as well. We will be paying for it for a long time to come so might as well was my thinking.

Better to have it and not need it than to need it and not have it. The PPP loan should be forgiven...the other one is a 15 year low interest one, so it hurts less than it might otherwise.....

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