Understanding the EIDL Program

Andrew Carroll: CFOAndrew

Andrew is a CPA and consultant at CFOAndrew who advises leaders and businesses on financial questions and change. He supports organizations in navigating taxes, investments, insurance, business strategy, operations, mergers and acquisitions, and accounting.

Key Points

• Know the difference between deferred demand and lost demand and consider that in your strategy going forward.
• Leverage is meant to protect a business, not save it.
• Hedging is the most important thing you can do with your money.
• Business owners and leaders should consider unemployment programs and, in The United States, Emergency Sick Pay, Economic Injury Disaster Loan Emergency Advance, and the Paycheck Protection Program.

Use the formula P=40 to 70, in which P stands for the probability of success and the numbers indicate the percentage of information acquired. Once the information is in the 40 to 70 range, go with your gut. -Colin Powell

Resources Mentioned

• CFOAndrew

Related Episodes

• Improve Your Financial Intelligence, with Joe Knight (episode 244)
• How to Approach Corporate Budgeting, with Jody Wodrich (episode 355)
• Four Rules to Get Control of Your Money, with Jesse Mecham (episode 356)
• Dumb Things Smart People Do With Money, with Jill Schlesinger (episode 396)

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