B2B CFO provided PPP application assistance to more than 500 businesses and the families that depend on them
MESA, Ariz. (July 23, 2020) – In the wake of COVID-19 dealing a hard blow to the economy, B2B CFO, a national firm dedicated to providing management advisory services to privately held companies, came forward to offer advice and Paycheck Protection Program (PPP) application assistance to privately held businesses across the country.
A survey completed by B2B CFO partners indicated that they assisted 519 businesses to receive approximately $251 million in PPP loans during the first three months of the pandemic.
“The PPP loans these companies received have kept about 25,000 people employed,” stated Jerry L. Mills, founder and CEO. “Not only have we helped those employees, but by extension their families.”
For every job that was protected by PPP loans, there is a family that was able to continue putting food on the table, cover rent and utilities, or otherwise continue on without the uncertainty created by business closures and stay-at-home orders.
While it is hard to know exactly how many lives were directly impacted by the loans, Mills says that estimating four people to a household means their work has kept life stable for approximately 100,000 during the pandemic.
B2B CFO partners worked with business owners in one-on-one sessions designed to inform them about immediate actions, navigate the PPP loan application process, plan cash flow through closures, and provide valuable insights on how they could restart their businesses.
But for the company, which has a history of working with business owners stricken by natural disasters, the consulting sessions were more than a bottom line – the overall impact on each business that received a loan allowed workers to continue providing for themselves and their families.
“It’s all about the people,” added Mills. “There are very few times in life that we get to help people on this scale.”
Founded in 1987, B2B CFO has nearly 200 partners in 40 states. They continue to provide consultations on PPP loan applications and economic impact relief during the pandemic.
“We pulled together to help business owners navigate this steep learning curve,” added Mills. “This is not the time to trust your business and livelihood to someone who is inexperienced.”
The current deadline to apply for a Paycheck Protection Program Loan is August 8, 2020.
Business owners who want to search the Partner directory and reach out to a B2B CFO Professional directly can do so by visiting: b2bcfo.com/our-professionals.html.
B2B CFO provides management advisory services to owners of privately held companies, with a focus on increasing cash and company value. The firm’s services include improvements in finance, accounting and operations, and company growth, as well as helping owners to transfer or sell their companies. B2B CFO’s nearly 200 professionals work directly with business owners, on site. Each is also an equity owner in B2B CFO and has more than 25 years of senior-level experience. With a nationwide presence, B2B CFO is the largest company of its kind in the United States. Founded in 1987 and headquartered in Mesa, Arizona, B2B CFO has ranked in the Inc. 5000 and was recognized in 2018 as one of Forbes Magazine’s “Small Giants.” For more information please visit www.b2bcfo.com.