March 2020 E-Newsletter

march 2020 e-newsletter near syracuse ny image of coronavirus at t gschwender and associatesEveryone will be impacted one way or another by COVID-19 (also referred to as the Coronavirus). Sales, which had already plateaued at most businesses, will go down and cash flow will become further strained. This will test the viability of almost all small businesses. Brick and mortar retail stores and accommodation/food services (hotels, motels, and restaurants) industries will take the brunt of the force. Delinquencies and losses at banks will go up over the next several quarters if the environment does not stabilize. Here are some strategies to consider in managing credit risk to help minimize the impact of COVID-19 at your bank:

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