Two key things we would like to address in this newsletter:
There is quite of bit of information coming out at the state and Federal level about the fiscal stimulus. We encourage you to work with your boards and advisors to stay abreast of how these efforts and resources may benefit your company. We are also working to understand the implications for angel and venture backed companies. One thing we are consistently hearing is to stay in touch with your banking relationships and be sure to apply early so you are in the queue as soon as possible, as many folks are doing likewise.
a. If you are having trouble with your existing lender, please see the link below with information from Grasshopper, a Golden Seeds company, which is offering assistance.
If your payroll is with ADP: it has a simple tool to auto-generate the payroll numbers requested at the push of a button. We would expect other payroll providers to have the same.
2. We are hearing from many of you that you are opening new rounds or extending prior rounds to bolster your cash positions. Please keep us apprised and also open the deal rooms on Proseeder quickly so we can communicate with existing investors and our broader investor network, if you are open to new investors, about these rounds.
As always - we appreciate and are humbled by the work you are doing to adapt to this evolving situation. As investors, we want to continue to support you to the extent we are able.
Golden Seeds Investor Network