This organization had to close its doors instantly due to the shutdown, and their management team was furloughed. Although they were completely shut down overnight, the company remains optimistic to reopen its doors in May. The focus will be to open the most profitable locations first with allowing up to 50% capacity. Cafeteria-style will be used to help prevent any possible contraction of the virus. The company received a 3-month full deferment from April to June and a 6-month reduction to the monthly payment. The organization hopes to completely open all of its locations by July pending government approval.
*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 Deferral
180-Day Payment Reduction