Oh boy, Janet. I know how you feel being a new VA business, too. If there was value to YOU for what he was offering in barter it might be worth thinking about. Since there isn't a benefit to you, I would say "Take a hike, Mike," but in a nice way.
Or better yet, tell him to then give you a call, or drop you an email when his cash flow problem straightens out. I would make sure to get paid upfront, too.
That's just my 2-cents.

Others might have a completely different take on it.
This stinks for you.