Obviously, keeping your small businesses afloat while financially suffering during this pandemic crisis is challenging. On March 27, 2020, the businesses have been promised relief under the CARES Act to secure PPP loans and perhaps other relief efforts. However, many small businesses are being denied the PPP loans, and little publicity has been forthcoming on…
The Small Business Reorganization Act (SBRA) streamlines the Bankruptcy Chapter 11 process for small businesses. This new tool helps small businesses reorganize their debts that is effective as of February 19, 2020. The Act creates a new Subchapter V under Chapter 11 of the Bankruptcy Code . The act is modeled after the expedited procedures used…