At CDBA we are here to SERVE you!

We want to keep you informed as our world changes daily.

Rest assured that we are continuing to maintain our focus on taking care of you during this uncertain time.

Due to COVID-19, our office is temporarily CLOSED to the public.
Our team members are currently working remotely.

As the world seems to be spinning out of control, we took a deep breath and redirected our focus to the matters we can control. We would like to share the following action items you might consider to assess your situation and create a plan for your business:

  1. Perform a cash flow analysis. In the analysis evaluate the worst case scenario for collection expectations. Consider projecting through June in the short term.
  2. Evaluate all costs. Eliminate any non-essential spending.
  3. Evaluate cash outflow. Identify opportunities for deferring cash payments. (i.e. delaying payment of retirement plan matching
    payments). As always, cash is king!
  4. Evaluate your project backlog. Can you accelerate any work due to changes in schedules or availability of onsite access?
  5. Evaluate your human resources. Are they remaining productive and profitable? Consider the following:
    1. Does the new Paid Sick and Family Leave Act apply to you? (See below) If so, do you need to make changes to your payroll tracking system to accumulate the necessary information to claim your payroll credit?
    2. Should you consider a “mass layoff” to facilitate unemployment benefits for your employees?
    3. Should you consider a furlough for certain employees to allow them access to unemployment benefits?
  6. Contact your insurance agent to determine if you are eligible for any claims under your business interruption insurance. If not yet, what information should you be collecting to determine this eligibility.
  7. Evaluate all sources of credit available to you. The best time to increase a line of credit limit is before you need it! (see attached
    information about SBA loans)

Information (and misinformation) is available to all of us at a record pace right now. We are committed to providing you with advice and counsel as we receive practical guidance from the applicable authorities.

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