On behalf of all of us at Element78 Partners, I hope that you and the ones that matter most to you are healthy and safe. We recognize that with the constantly changing COVID-19 situation around the world, this is an unprecedented time for everyone – a time that, for many, is filled with uncertainty. Our hearts and thoughts go out to each and every one of you.
It’s in times of crisis that we have the opportunity to band together. At Element78 Partners, we recognize the important role we play in providing essential services to you and your employees. As Chief Executive Officer, I want to take a moment to let you know that we stand ready to serve you and share with you the robust plans and procedures we have developed to manage the possible impact of the COVID-19 pandemic on our organization and yours.
The well-being of all our people is of the utmost importance to us. For their safety and yours, we have suspended all non-essential business travel. These measures have been taken to limit the potential spread of the virus, to support our employees in this challenging time and to ensure we maintain our ability to serve you, our client and partner, for the long term. Our senior leadership team remains vigilant and is monitoring the situation in real time and responding rapidly as conditions evolve. We will continue to assess our policies based on guidance from the U.S. Centers for Disease Control and Prevention, the World Health Organization, and local governments.
We are dedicated to meeting your needs with minimal interruption in service. Our Finance-as-a-Service model provides a full accounting, administration and finance department to handle day-to-day services that would normally be managed in-house. Our professionals use mobile technology daily and we have procedures in place to enable our employees to perform their work for you remotely.
Access to Working Capital
We are advising clients on how to access emergency funds for managing cash flow. We’ll work directly with your financial institution or apply for federal programs on your behalf, such as the U.S. Small Business Administration’s Economic Injury Disaster Loan Program, to obtain the working capital your business needs to keep running.
Levers with Landlords and Lenders
We are managing cash flow forecasts for our clients and identifying levers that can be pulled to minimize cash burn over the short-term. This includes engaging in discussions with landlords and lenders regarding rent abatement or deferrals and loan payment relief.
I reiterate, Element78 Partners stands ready to serve you. If you would like to discuss your specific situation during these times, please don’t hesitate to call my office at 630.861.6181. Make sure to also bookmark our blog and follow our Linkedin page for ongoing content about managing through the impacts of COVID-19.
We look forward to the passing of these difficult times for everyone. e safe and stay healthy.
John Signa, CEO and Managing Partner