General business information, such as your business number, and banking information.
A spreadsheet detailing:
- Fixed and variable expenses, including information on relief you may have received on your lease or insurance costs, as well as expenses you have incurred due to COVID (i.e. PPE)
- Year-to-date revenue, as well as revenue details for the past two years
- Dollar value of cancelled orders or services, including those incurred due to government lockdowns
- Business/Personal Tax Returns for the past 2 to 3 years
- Income Statement and Balance Sheet for 2019 and 2020
- Company Profile, including information on why your company was performing well prior to COVID-19 and how it has been affected
- The amount of money you need and what it will be used for
- How you’ve pivoted in these unexpected circumstances, what actions you have taken to solve your cash flow needs and any measurements of decreased traffic, sales etc.
Determining how long will your cash reserves last?
- To determine this dollar amount, take your current cash balance and divide by your current monthly expenses — resulting amount is your cash runway measured in months
- Or determine the number using ALL cash access options that could be tapped, including credit cards and lines of credit. Then take this total and divide by your current monthly expenses — the resulting amount is your cash runway measured in months