As the lockdown begins, companies’ cashflows are disappearing overnight. But they still have bills to pay. So they need cash.  Just like households, companies keep a certain amount of cash handy to pay for the day-to-day running of their business. This is called working capital. Working capital is continually replenished by sales and depleted by bills.  Should a company ever run low on cash, the bank is normally its backup. A company usually has a pre-agreed line of credit with its bank, which entitles it to a certain amount of cash with no questions asked.  Now a growing number of…

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