COVID-19 Response

COVID-19 Response

Warner Fuller Consulting is here for you and your families. We are committed to being your financial accountability partner during this unprecedented time.

Our priority aligns with our clients’ physical health and well-being in addition to financial health.

Though times are uncertain, practical and effective financial management practices, reporting and tools are still possible for sustainability until the economy strengthens.

We advise you to implement two critical steps:

  1. Communicate to everyone (staff, clients, vendors and partners) your status as best you can until your situation improves.
  2. Determine your monthly cash outlay to cover all monthly expenses whether you have sales/business or not to sustain your operations. (Warner Fuller can assist).

 

We Are Here to Help

The Warner Fuller Team is working full time during normal business hours to serve our clients and assist our partners during this time.

We have developed customized Financial Business Continuity Plans for those needing financial assistance in response to COVID-19 funding sources. Click here for pricing.

  1. Special Hardship Plan
  2. Hourly Financial Advisory Plan
  3. Standard Financial Business Continuity Plan
  4. Essential Financial Business Continuity Plan
  5. Premier Financial Business Continuity Plan

 

Disaster Fund Relief Applications

For any application you will be required to provide the following documents.

  • Last three years of Business Tax Returns
  • Last three years of Personal Tax Returns
  • Current year financial statements (recommend cash basis since that is the basis for filing tax returns)
  • Personal Financial Statement
  • 2019 Payroll and/or Last 12 months of Payroll (full time and part-time employees). Some applications may ask for 1099 employees
  • Healthcare costs/premiums
  • Retirement plan costs

Understand your situation before you apply. Apply for the best options first (lowest interest rate; longer terms); prioritize your applications. Gather all appropriate documents prior to starting applications.

 

Tips to Preserve Cash

  • Call in on Accounts Receivables Due (even if terms are not due yet)
  • Pay the minimum on all outstanding credit card debt
  • Set up a payment plan with vendors (including Lease)
  • Minimize purchases unless they are absolutely critical to operations
  • Avoid maxing out credit cards or lines of credits to sustain operations
  • Review and manage all automatic payments
  • Monitor Bank Accounts
    • If you are paying bank fees on checking accounts, ask banks to waive fees or move you to a free checking account
    • If you have savings account, move as much of your cash there to generate a little extra in interest until you need to spend the cash.
    • Identify and research any unknown charges

Personal Financial Tips

  • Contact personal credit cards to negotiate payment plan if minimum payment cannot be met; Ask for a reduction in interest rates if you have been in good standing
  • Consolidate personal credit card debt to a personal line of credit if available since interest rates are lower (make sure there is an option to renew the line if not able to payoff prior to line expiring)
  • Contact Mortgage Companies to ask about assistance with mortgage payments if necessary
  • Develop a personal budget to monitor monthly income and expenses. Make adjustments as often as necessary based on financial position

Get in Touch

We are all in this together and we will find ways to navigate through in order to keep everyone calm and sustainable as best we can. For a consultation, please contact us at info@warnerfuller.com.

Warner Fuller Consulting is here for you and your families. We are committed to being your financial accountability partner during this unprecedented time.

Our priority aligns with our clients’ physical health and well-being in addition to financial health.

Though times are uncertain, practical and effective financial management practices, reporting and tools are still possible for sustainability until the economy strengthens.

We advise you to implement two critical steps:

  1. Communicate to everyone (staff, clients, vendors and partners) your status as best you can until your situation improves.
  2. Determine your monthly cash outlay to cover all monthly expenses whether you have sales/business or not to sustain your operations. (Warner Fuller can assist).

We Are Here to Help

The Warner Fuller Team is working full time during normal business hours to serve our clients and assist our partners during this time.

We have developed customized Financial Business Continuity Plans for those needing financial assistance in response to COVID-19 funding sources. Click here for pricing.

  1. Special Hardship Plan
  2. Hourly Financial Advisory Plan
  3. Standard Financial Business Continuity Plan
  4. Essential Financial Business Continuity Plan
  5. Premier Financial Business Continuity Plan

Disaster Fund Relief Applications

For any application you will be required to provide the following documents.

  • Last three years of Business Tax Returns
  • Last three years of Personal Tax Returns
  • Current year financial statements (recommend cash basis since that is the basis for filing tax returns)
  • Personal Financial Statement
  • 2019 Payroll and/or Last 12 months of Payroll (full time and part-time employees). Some applications may ask for 1099 employees
  • Healthcare costs/premiums
  • Retirement plan costs

Understand your situation before you apply. Apply for the best options first (lowest interest rate; longer terms); prioritize your applications. Gather all appropriate documents prior to starting applications.

Tips to Preserve Cash

  • Call in on Accounts Receivables Due (even if terms are not due yet)
  • Pay the minimum on all outstanding credit card debt
  • Set up a payment plan with vendors (including Lease)
  • Minimize purchases unless they are absolutely critical to operations
  • Avoid maxing out credit cards or lines of credits to sustain operations
  • Review and manage all automatic payments
  • Monitor Bank Accounts
    • If you are paying bank fees on checking accounts, ask banks to waive fees or move you to a free checking account
    • If you have savings account, move as much of your cash there to generate a little extra in interest until you need to spend the cash.
    • Identify and research any unknown charges

Personal Financial Tips

  • Contact personal credit cards to negotiate payment plan if minimum payment cannot be met; Ask for a reduction in interest rates if you have been in good standing
  • Consolidate personal credit card debt to a personal line of credit if available since interest rates are lower (make sure there is an option to renew the line if not able to payoff prior to line expiring)
  • Contact Mortgage Companies to ask about assistance with mortgage payments if necessary
  • Develop a personal budget to monitor monthly income and expenses. Make adjustments as often as necessary based on financial position

Get in Touch

We are all in this together and we will find ways to navigate through in order to keep everyone calm and sustainable as best we can. For a consultation, please contact us at info@warnerfuller.com.