How are you preparing for COVID-19? What actions are you taking?

Decided to take the time to comment. As you can imagine the last two weeks, with the last week in spectacular fashion, have us quite busy to say the least. Speaking from the Live Oak Bank lense, today we're still getting new loans approved and closing loans (Conventional and SBA). But as you can imagine a lot of our day/efforts now are helping our existing business borrowers navigate these uncertain times and figure out bank lending/servicing (and where applicable SBA) resources available to best help our clients survive this immediate shock and the potential longer term impacts. Day by day, client by client. I have provided the link below to the SBA Disaster Relief website for existing business owners. It's an SBA direct lending program. https://www.sba.gov/funding-programs/disaster-assistance. Pass along to any business owners that you know. The Searchfund ecosystem from the searchers to the CEOs to the investors to the niche professionals/service providers appear to me to be trying to balance 'being open for business' and being good citizens and leaders. I'm honored to be part of this amazing community. I've been lending for 33 years + and this is all new. Speaking for myself, I'm going to try my best to rise to the challenge with as much humility, humanity as possible. Let's put all our smarts and leadership to the test because I know we can do this,even if on most days it's going to be really tough out there. BE safe out there and look out for one another. --@----.com if we can be of help.

I've asked all employees not to come in if they're not feeling well or have symptoms. I've communicated to all employees the steps that we are taking to prepare for the virus. Those plans include maintaining high inventory levels of all essential supplies so that if/when local supply chains become disrupted due to everyone getting sick, we will still be able to operate for 2 or more weeks. Additionally, our business is highly stable, has a weekly need, does not require a lot of social interaction, and we deal with a lot of disinfecting chemicals, which kill Coronavirus, so it seems unlikely that we will get shut down. However, if we do, we are in a very strong financial position and I will not leave any of our team members hanging. I've asked them to do their part to help slow the spread of the virus and protect the most vulnerable members of society as well as our health care workers by avoiding large social gatherings. I have not communicated any plans to customers, yet, but if/when I do they would be along similar lines. Investors are all my friends and I communicate with them regularly about what's going on. They're all very hands off.