COVID-19 checkup – 4 questions to ask a recovering business
Abstract: Small and medium-sized businesses around the country have borne the brunt of the COVID-19 pandemic’s economic impact. As the downturn continues, they must find ways to right-size their operations. For some, this requires rethinking every aspect of the business. Lenders need to determine whether their borrowers are on track to adjust to the new operating environment — and thrive. This article suggests four questions to ask a borrower in this situation, such as whether the borrower’s future business model is realistic and whether the plan for implementing it makes sense.