Columbus, OH − May 28, 2020 − FocusCFO announced today they have helped their clients and others with over $100 million in Paycheck Protection Program (PPP) and other CARES Act loans since the beginning of the COVID-19 crisis. Businesses receiving loans were both for-profit and non-profit organizations, all with less than 500 employees. Applications were processed by over two dozen banks in Ohio, Michigan, Pennsylvania and Kentucky.
“We are always passionate about helping business owners, but even more as they began to navigate early stages of the pandemic,” said Brad Martyn, Founder of FocusCFO. “The PPP loans were critical for employers to have some financial cushion and peace of mind so they could sustain their businesses while managing the impact of COVID-19. The application and subsequent forgiveness process have been confusing and chaotic. Nonetheless, we found it rewarding to help our clients with the vital funding and their on-going cash flow planning.”
In addition, as part of their commitment to supporting small business in the communities where they operate, FocusCFO provided pro-bono services to over 70 companies and individuals hit especially hard by pandemic closures and regulations. These complimentary services involved PPP applications, cash flow forecasting and stress modeling.
“Hundreds of hours of pro bono services have been provided and we’re really proud of that,” said David Bourke, Director of Client Services. “The small business community has been hit hard by the pandemic and we’re doing what we can to support as many as we can.”
In addition to pro bono services, FocusCFO provides complimentary resources and cash flow tools to help business owners through their website.
“Especially during business interruptions like the pandemic, the ability to access cash and understand cash flow becomes critical to every business and can determine whether a business survives,” said Martyn. “Our CFO’s are very skilled at forecasting and managing cash flow, and identifying and correcting risk. We look forward to helping our clients through the remainder of this business uncertainty so they will come out of it stronger than before.”
About FocusCFO:
Founded in 2001, FocusCFO is the leading onsite fractional CFO services provider in the Midwest, with more than 90 CFOs and Area Presidents serving clients throughout Ohio, Michigan, Pennsylvania, Kentucky, Indiana and West Virginia.
FocusCFO works closely with small to medium sized businesses, helping business owners gain control over three key financial and operational areas: increasing cash flow, reducing business risk, and creating a platform for scalable growth. This allows business owners to then realize full financial control and increased value in their businesses. FocusCFO provides CFO Services on a fractional basis, meaning clients get all the advantages of a full-time, highly experienced CFO under terms that are flexible, affordable and within each client’s budget. What really sets FocusCFO apart is their CFOs are highly experienced and work exclusively onsite at the client’s office under a recurring schedule. Typically, engagements range from two days a month to several days per week, and many clients are in the $2 to 6 million revenue range when they initially engage with FocusCFO.
For more information, visit www.focuscfo.com or follow us on LinkedIn.
