Coronavirus - effects on business

[blue moon]

I dont know if this will help anyone, but I am looking into it. https://disasterloan.sba.gov/ela/Information/Index Its the small business association disaster loan site. I may have to do this to keep my business while the world shuts down.

I posted this earlier, it took 5 hours to get it done but I have a ton of free time.

I'm actually making face mask now with our ZSK. There's a massive shortage and our local hospital is in dire need along with the nursing homes and cancer units. My wife works there and we have a lot of nursing home/assisted living clients. I'm making them for free. If you're interested check out this video

https://www.facebook.com/kelly.pfender/videos/10219814826108607/

Here's the video they reference-
https://www.deaconess.com/How-to-make-a-Face-Mask?fbclid=IwAR0ck-O83uGekME_rUXwWr2hB93E0kymA4u9Yzbd9nff0vIF6NGfYI0kEFE

can you use t-shirt material? I would imagine most of us have some rejects we can use for this. . .

pierre

[Jepaul]

I am not sure what the issues are with these masks.  Do the right people not know who to contact?

There are 100’s or thousands of masks sitting in ningbo and svg that can ship in 2-3 days and air freight be here in 3-4 days.

Is the media ignoring this, government agencies not knowing who to contact, hospital purchasing departments relying on local?

[Jepaul]

Just a heads up, I spoke with Geneva Capital yesterday, I wasn't looking for forgiveness on payments, but while I had him on the phone I did ask what were they going to do?  He said they would give me 90 days no payments if I asked for it, probably even could stretch it to 6 months.  However we do have good credit and have used them for years. FYI!

That’s great to hear!!   Geneva!

[blue moon]

Just a heads up, I spoke with Geneva Capital yesterday, I wasn't looking for forgiveness on payments, but while I had him on the phone I did ask what were they going to do?  He said they would give me 90 days no payments if I asked for it, probably even could stretch it to 6 months.  However we do have good credit and have used them for years. FYI!

That’s great to hear!!   Geneva!

funny thing is they told me to keep making payments. . . Direct capital on the other side said they will figure something out and get back to me. We have leases with both for over three years. High five figures, never been late, never any problems. Cash in the bank and I offered to email bank statements.

pierre

[Jepaul]

That’s terrible to hear.  freaking Geneva!

[ericheartsu]

I am not sure what the issues are with these masks.  Do the right people not know who to contact?

There are 100’s or thousands of masks sitting in ningbo and svg that can ship in 2-3 days and air freight be here in 3-4 days.

Is the media ignoring this, government agencies not knowing who to contact, hospital purchasing departments relying on local?

in wuhan too. some of our reps have asked if we needed them, or if we want to buy some to resell or give to staff. it's wild

[Maff]

Just a heads up, I spoke with Geneva Capital yesterday, I wasn't looking for forgiveness on payments, but while I had him on the phone I did ask what were they going to do?  He said they would give me 90 days no payments if I asked for it, probably even could stretch it to 6 months.  However we do have good credit and have used them for years. FYI!

That’s great to hear!!   Geneva!

funny thing is they told me to keep making payments. . . Direct capital on the other side said they will figure something out and get back to me. We have leases with both for over three years. High five figures, never been late, never any problems. Cash in the bank and I offered to email bank statements.

pierre

I wonder if they expect you to keep making payments because you have too much money in the bank?

Today we did the application interview with Direct Capital CIT to defer payments on our loan. I was hesitant to reveal how much money we actual have in the bank thinking it would hurt our chances if we have too much, but honestly I really dont know how they rate this stuff

Craziest thing, they asked what percentage of your business is lost from the coronavirus? I was like 95% and they responded saying they could only answer up to 25%.... seriously WTF

[Nitrox73]

[/quote]

can you use t-shirt material? I would imagine most of us have some rejects we can use for this. . .

pierre
[/quote]

We were told 100% cotton, heavier weight.

https://www.deaconess.com/How-to-make-a-Face-Mask

[Nitrox73]

I am not sure what the issues are with these masks.  Do the right people not know who to contact?

There are 100’s or thousands of masks sitting in ningbo and svg that can ship in 2-3 days and air freight be here in 3-4 days.

Is the media ignoring this, government agencies not knowing who to contact, hospital purchasing departments relying on local?

The hospital said that the container ships were turned back. The shortage is worldwide.

[numbercruncher]

Heard a similar scenario on ships being turned away - possibly because the cre was infected?

[Jepaul]

I am not sure what the issues are with these masks.  Do the right people not know who to contact?

There are 100’s or thousands of masks sitting in ningbo and svg that can ship in 2-3 days and air freight be here in 3-4 days.

Is the media ignoring this, government agencies not knowing who to contact, hospital purchasing departments relying on local?

The hospital said that the container ships were turned back. The shortage is worldwide.

Not sure.

Containers are 30-40 across pacific so they would of had to order those in late Jan.   All of these are aired in.

[Jepaul]

Heard a similar scenario on ships being turned away - possibly because the cre was infected?

Maybe.  That would be strange though. I haven’t read anything about cargo ships being turned away.   If anything they just aren’t coming because they had nothing to bring.


https://finance.yahoo.com/news/aren-t-enough-containers-keep-210902952.html

[mk162]

Geneva offered me one month.  I am dangerously close to closing my bank account and opening a new one.  I really don't care about my credit score at this point...and they sure as hell aren't going to foreclose...they won't be able to do anything with a glut of machines.  I agree with Winston, I don't see some of the manufacturers making it since there will be so much cheap equipment on the market at the end of this.

We have a good war chest, I have cut expenses to less than $200 a day if I continue paying my leases...I am going lower though.  I want it less than half that.

[californiadreamin]

Geneva offered me one month.  I am dangerously close to closing my bank account and opening a new one.  I really don't care about my credit score at this point...and they sure as hell aren't going to foreclose...they won't be able to do anything with a glut of machines.  I agree with Winston, I don't see some of the manufacturers making it since there will be so much cheap equipment on the market at the end of this.

We have a good war chest, I have cut expenses to less than $200 a day if I continue paying my leases...I am going lower though.  I want it less than half that.

Brad You Will Be One Of The Survivors!
Mask From China? I would Not By SCHITT From Those People. My Vendor said This, My Vendor Said That! Phuck China
My Opinion Today Is Far More Dire Than When I Posted The Other Day
In 2008-2010 I Was Involved With A Very Large Print Shop. 15 Autos,12 Being MHM's, 3 M&R's
$40,000 per month rent. Nike was our Largest Customer.
We Finished Printing All The Goods For Nike For Vancouver Olympics And Received A Letter That They Were Moving Production To China.
The Owner of the Business (A CPA Internet Guru From Europe, A Really Nice Guy Said Shut It Down) He said the margins did not
Make Sense, It was a Bastard Industry. Was Able To Liquidate And Do Quite Well. The Larger Shops In Cali had started falling earlier.
Thousands Of People Lost There Jobs. I Ended Taking Apart A Lot Of Those Shops For Some Leasing Companies,Banks,Owners Etc.
I Came Across A lot Of Paper Work Just Left Behind. On the old Screenprinters Net I warned Printers To Be Careful With Leasing Companies,
Machine Manufacturers Because The Papers Showed HUGE Diferences  In Pricing People Paid For The Same Machines. I thought It was Very Unfair To Smaller Printers Who Paid Their Bills, And I publicly said So. Most Machines Of All The Factories Went Overseas, Or Across The Border. It Left Prices Strong,  Here In The USA With Printers Paying Higher Dollars Here Than The Printers Overseas! Unfair. Today It Is Quite Different.
The Tide Has Turned. IMHO More Used Equipment, And Repo Equipment Is Going To Flood The Market With Low Prices. The Leasing Companies
Are Not Even In Control On This. They have BIG Problems! How Do You Threaten A Man With Bad Credit Scores When He Has Almost Lost Or Lost His Business? You Can't! And They Know It. Head Pierres Words On This. Hold On To Your Money!!!  I Say Bring The Work Back Here, Or At
Least Deal With Countries That Have Good Human Rights, Workers Rights To Provide You With Product. You Say You Have Morals, You Have
Values??? I Am Afraid WE As A People Have SOLD OUT For The ALLMIGHTY DOLLAR! Bring It Back Here. Keep It Local. Build OUR Communities.
Or Does "Were Sustainable" mean We Do This On The Backs Of Others, So That WE Can Have Cheap T-Shirts, Products??? Hell No!!!
Large Machine Mfg Will Not Survive This One. You Were Warned. The Pockets Are Not Deep Enough. The Private Equity Money That Owns Them
Will Shutter Them In A New York Second. Great Deals On Thier Way For Those That Make It. AND THE SUN Will SHINE AGAIN. The Playing Field Will Be Leveled. And Their Will Be Money Made Again. Let's Hope WE Learn Some Lessons From All Of This. STAY WELL
Locked Down In California Because Of The Chinee Virus.
Winston
 

[Du Manchu]

Make the call to your home mortgage lenders as well.  Yesterday, after a 1.5 hour hold, I got through to Wells Fargo.   A federal program allows to skip 3 payments with no penalties and no credit ding, and simply extent the term 3 months on the back end.  For me personally, this is huge and helps me begin to see how we might navigate through this fiasco.

My next big task is also Direct Capital.  I also got the “we’ll call you back in a few days with a plan”....right.  The problem is they require auto-draft for payments in the loan closing docs and the 25th cal of month is approaching rapidly.  So I guess I need to drain that checking account to a minimum so it rejects, or shut it down entirely???

Good luck out there & be well.