Restaurant Revitalization Act: First Come, First Served.
The Paycheck Protection Program (PPP) has been a lifesaver for small businesses. The latest legislation has provided a second round and even allowed for the amendment of the first round under the appropriate circumstances. A supplemental program known as the Restaurant Revitalization Act that provides $28.6 billion directed specifically to restaurants has passed and the […]
New Small Business Bankruptcy Options for the Post-COVID World
The global pandemic wears on, along with the inevitable public policy responses and follow-on effects. Signs of the resulting economic carnage are everywhere, and bankruptcy will be unavoidable for companies large and small. Even at this relatively early stage, several high-profile corporations have already filed for Chapter 11 protection. Hertz Rent-A-Car is the latest example, […]
Florida Small Business Emergency Bridge Loan Program
April 5, 2020 Michael L. Salad, Esq. | Craig Panholzer, Esq. Many Floridians, including small business owners, were hoping that business as usual would return sooner rather than later. That hope all but diminished last Wednesday when Governor Ron DeSantis issued a statewide stay-at-home order in response to the COVID-19 pandemic. Governor DeSantis also announced that […]
Good News for Small Business Affected by COVID-19: State EDA Programs and SBA Programs
March 28, 2020 Nicholas F. Talvacchia, Esq. | Jennifer B. Barr, Esq. NJDEA PROGRAMS The New Jersey Economic Development Authority (“NJEDA”) was authorized by Governor Phil Murphy in recent signed legislation to provide relief to New Jersey small and mid-sized businesses. This package of initiatives will provide more than $75 million of both State and […]
DO NOT FEAR, RELIEF IS HERE
March 26, 2020 Eric A. Browndorf, Esq. | Rebecca C. Lafferty, Esq. FINALLY, some positive news for Small Business. Effective last month, a financially struggling small business does not have to choose between an expensive Chapter 11 bankruptcy or a complete liquidation under Chapter 7. Congress has tailored a quick, streamlined restructuring process for struggling […]