Before the pandemic hit, the companies were in sound fiscal shape with âreally good balance sheets,â meaning an ample surplus of assets over liabilities. When the pandemic roared in, the companies âcut expenses dramaticallyâ and took advantage of local, state and federal relief programs, he said.
Without the relief programs, Hosler said, âIâm not sure how weâd be looking at all these applicants as still viable businesses. Thatâs what really has helped bridge the gap to this point.â
But what about surviving beyond this point, with proposals for additional federal relief programs in limbo in Congress and the timetable for widespread vaccine distribution yet to be determined?