Because of the economic consequence of the COVID-19 shut down, jobs have lost and as a result, mortgages will go unpaid and an increase in home foreclosures will occur. Now home prices currently remain high because of the fact inventory is low. So many in default will decide to sell their homes, take whatever equity […]
On June 16, 2020, the SBA rolled out a new and updated loan forgiveness application for the immensely popular PPP loan. As you may recall, under the initial framework for the PPP loan, there were concerns for many small businesses and the potential eligibility for loan forgiveness because many businesses were still closed or substantially closed after […]
Today, Pres. Trump signed into law much needed revisions related to the popular PPP relief program. It is no doubt that the COVID-19 shutdown has been far greater and longer lasting than expected. These revisions, while still sorting out the actual implementation, should provided added relief for small business borrowers who secured PPP loans. As […]
As more of the state is re-opening many are wondering what the restrictions and guidance looks like. Today we look at the re-opening guidance related to real estate transactions and offices. As we re-open, there needs to be sensible and careful balance between public health and economic factors. Businesses are incentivized to safely reignite the […]
New information is constantly coming forward related to the SBA’s Paycheck Protection Program. The guidance is constantly changing and borrowers are left wondering about compliance. This past week, the SBA updated its guidance on the necessity component that had been the center of debate once it was learned that public companies were unfairly taking advantage […]
In our previous installment on loan workouts, we discussed being proactive in approaching a lender when a commercial loan is in trouble. Today, Attorney, Matthew Kirkpatrick walks us through the process of how a commercial loan default (a trouble asset) is handled with the bank. There are a many different ways loans can be negotiated […]
Thomas Jefferson stated following a period political and economic uncertainty: “if we can but prevent the government from wasting the labors of the people, under the pretense of taking care of them, they must become happy.” In the wake of the COVID outbreak, much of the legislative action has been carried out by executive order. […]
Its been nearly seven weeks since the State of California has been put on a statewide shelter in place order. During this time many businesses have struggled to make ends meet and many landlords are facing questions related to their own commercial loans. Today, Attorney, Matthew Kirkpatrick begins to address issues related to commercial loan […]
Its been nearly seven weeks since the State of California has been put on a statewide shelter in place order. In the past couple of days, the Governor has indicated that the State will begin to move towards a phased re-opening. There is yet much to be learned as to what that will look like […]
As we near the end of April 2020, it has certainly been an interesting time. I think that is a good way to say that. Many shelter orders that were amended or extended in early April are set to expire. Some counties are extending further others are moving to a different path. Today we look […]
