This long-time customer of ours sells aircraft parts to the airline industry. With the cancellation of more than 50-percent of all flights globally, this company’s customers not only halted purchases and repairs for their aircraft but were implementing employee furloughs. That’s when company leaders approached us for help. They had already made the tough decision to aggressively reduce personnel costs by cutting staff and wages.
As part of one of the hardest-hit industries by the shutdown, this company is now working to preserve liquidity to ensure the long-term future of the company as well as the people and partners it serves. We became a critical partner in this quest with the ability to offer a drastic payment reduction for three months.
*These case studies are provided for informational purposes. The names of the customers and the specific details of their business and situation have been withheld. Qualification for Onset’s COVID-19 Relief Program is subject to review and approval by Onset and its underwriters.
90-Day Payment Reduction