Focus Management Group: April Month in Review
Each month we will be posting an overview article that covers our recent company articles, announcements, and insights. Below is for the month of April.
Working with a Company Through the Refinance Process
Incumbent lenders often feel the need to give the company some time to work through the process on their own. When the company is unsuccessful everyone becomes more frustrated.
What can a lender do to encourage the refinance?
There are several tools incumbent lenders can use to help create more opportunities for a successful refinance.
Do you know which tools and techniques can help?
What is the Restaurant Revitalization Fund?
The Restaurant Revitalization Fund (“RRF”) is set to begin its application process shortly. The Restaurant Revitalization Fund is a $28.6 billion resource for liquidity for restaurants. Funds received under the RRF are grants, and do not require repayment. The RRF program is administered directly by the SBA.
To be eligible for the funding, the applicant must operate twenty or fewer restaurants, and must be privately owned. Privately owned franchisees of publicly traded franchisors are eligible.
We have included the SBA Application and multiple examples of sample applications, so you can see what the calculations might look like. Read the article to learn more!
FMG Industry Analysis: Agronomy Services in 2021
👨🌾🌽🐄 This year provides opportunities and challenges for agronomy providers and for their lenders. Sizes of lines of credit and working capital management will require additional attention and analysis.
Clearly the field of agronomy has evolved over time and requires a more sophisticated understanding of the science and the economics of farming.
The Shuttered Venue Operators Grant portal is reopening
The SBA initially opened its Shuttered Venue Operators Grant (“SVOG”) portal on April 8, 2021. Applicants experienced difficulty uploading application documents and the SBA closed the portal for repairs. The SBA has not announced a definitive date for restarting the portal that allows applicants to apply for the Shuttered Venue Operators Grant funds, but is expecting the portal to reopen by the end of the week of April 18, 2021.
During this period potential applicants should evaluate their ability to generate liquidity using the SVOG program and ready themselves to apply for the grant money once the portal is open and operating.
Which types of entities & establishments are eligible? Click below to learn more!
How to Ensure a Successful Refinance Process
The companies that are able to be successfully refinanced use a firm that understands the credit process and the refinance process. The Focus Management Group process has been successful because we know how to evaluate a company’s strengths and weaknesses, and match that to potential lenders.
We guide the parties through the process and make sure everything that can be done to make a refinance possible is completed accurately and timely.
Click here to learn more about our process!