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Dear John,
Vertican went from a bootstrapped entity to $1.9 million in liquidity the past few months. They created a âfortress balance sheet.â Hereâs a link to their story.
Thereâs a good chance things are going to get much worse before getting better (plan for the worse) â so what are you doing to create a âfortress balance sheetâ? Nowâs the time to continue to load up on cash.
US-only. Last week, the Federal Reserve finally opened its $600 billion Main Street Program for U.S. businesses as part of the CARES Act. The program allows companies to borrow up to 6x their 2019 EBITDA minus existing debt on a five-year note at low-interest rates. The PPP program is a band-aid compared to the potential impact Main Street could have on many businesses. Ami Kassar of MultiFunding will be running âAminarâsâ on Main Street this week for those interested.
Please focus on cash!!!
Keep Scaling Forward,
Verne Harnish, CEO
Scaling Up
Author of Scaling Up (Rockefeller Habits 2.0)
The Greatest Business Decisions of All Time
Mastering the Rockefeller Habits
Scaling Up,
1660 NE Miami Gardens Dr, Ste 4, Miami, FL, USA
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