We regard the potential for the types of tribal consortiums and tribe-to-tribe lending already discussed and seen even before the pandemic to be one part of the solution but not the solution in total. In order to satisfy capital markets, not to mention tribal leadership, intensive rounds of strategic planning, workout negotiations, creative financing proposals, forecasts of future operating results with varying assumptions and alternatives, and careful analysis of actual experience before and during the crisis to support conclusions of future potential will all be required, probably on a frequent and repeatedly updated basis. Within this context, key recommendations and areas of focus include: Internal working groups as quickly as possible given crisis conditions to begin a pre-planning process looking at likely issues and areas of focus unique to each tribe and tribal business As time, capital and staffing permits, initiation of business-level and tribal-level strategic planning for recovery and future long-term operating models On-going communication with existing and past lenders to establish dialogue about needs, limitations, expectations and opportunities Project, loan or venture-specific evaluation of pre-pandemic, pandemic and likely post-pandemic operating results given available information and current plans, including range and alternative estimates Active discussions at the association level and tribe-to-tribe of alternative capital sources, workout strategies and best practices Continued lobbying of government support for reparative, restorative and generative initiatives INSURANCE & LEGAL The pandemic has created a whole new set of legal and insurance concerns regarding liability, business interruption, worker safety, product safety, return policies, regulatory compliance, reporting, privacy and other issues. There is already talk at the federal level of legislation to protect businesses from liability issues. How all of the issues will be resolved is yet to be determined and will likely continue to play out even after the virus itself has passed. The uncertainty created by a lack of final and reliable determination on such issues will be an operating constraint in its own right, affecting staffing and reopening decisions, insurance costs and other matter. Within this context, key recommendations and areas of focus include: Immediate discussions with internal and external counsel, as well as
relevant industry associations and government representatives to determine the extent and character of liability for Indian tribes and AIAN-owned businesses across all sectors
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