We are consistently seeing from banks the need for good management information, forecasts, minimum cash forecasts showing the baseline pre-virus and the reduced forecast effect of the virus, as well as information showing what you have put in place to mitigate this cash shortage.
We suggest looking further ahead to forecast what your cash shortage will be when these schemes are reversed. This will enable you to look at the payment terms of the loan and can help you decide whether to take the 12 month payment holiday.
As the situation progresses and when we know more we will provide further updates and clarification. Please contact us if you need more help.