Commercial Finance
Limited Safe Harbor May 14 Deadline Looms: Did I Misunderstand or Misapply the PPP Borrower Certification?

Coronavirus Aid, Relief, and Economic Security Act (CARES): Title IV – Assistance to Severely Distressed Sectors of the United States Economy

By: Ryan M. Spott, Danielle S. Fadel and Kathy L. Nusslock On March 25, 2020, the United States Senate approved the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), a $2 trillion stimulus deal that aims to provide emergency assistance and health care response for individuals, families and businesses affected by the 2020...

read more
SEC Emphasizes Anti-Fraud Protections During COVID-19 Pandemic

SEC Emphasizes Anti-Fraud Protections During COVID-19 Pandemic

By: Timothy J. Feldhausen On March 23, 2020, the co-directors of the Division of Enforcement of the U.S. Securities and Exchange Commission (SEC) issued a statement regarding market integrity during the COVID-19 pandemic[1].  Specifically, the statement serves to remind public companies of their obligations to maintain disclosure controls and...

read more

Borrowers Under SBA 504 and SBA 7(a) Loan Programs Eligible for Deferral of Principal, Interest and Fees for up to Six Months

By: Lawrence J. Glusman and Michael Van Someren To address temporary business interruptions, U.S. Small Business Administration (SBA) lenders nationwide have authority to defer payments of principal, interest and servicing fees for up to six months.  Borrowers with existing loans under the SBA 504 Loan (Certified Development Company) program and...

read more

DFI Licensed Lenders and Payday Lenders Should Be Cautious During COVID-19 Crisis

By: Sherry D. Coley and Tiffany E. Woelfel On March 18, 2020, the Wisconsin Department of Financial Institutions (“DFI”) issued emergency guidance to licensed lenders and payday lenders cautioning them from increasing customary interest rates, fees, or any costs of borrowing in response to the COVID-19 crisis. DFI explicitly warned that increases...

read more
In Commercial Contracts, We Do Not Want to Be Our Brother’s Keeper

In Commercial Contracts, We Do Not Want to Be Our Brother’s Keeper

By: Thomas V. Rohan Most terms and conditions of commercial contracts are important, but, if you pay attention to no other provisions, carefully review the indemnification clause. An indemnification clause is a provision by which one party agrees to protect the interests of another party, including paying all damages and usually expenses, e.g.,...

read more
Swap New Year’s Resolutions for Real Property with a 1031 Tax-Deferred Exchange

Swap New Year’s Resolutions for Real Property with a 1031 Tax-Deferred Exchange

By: Michael Van Someren & Danielle Snyder Fadel A 1031 Tax-Deferred Exchange (“§ 1031 Exchange”) is an extremely useful tax strategy for taxpayers that maintain real property for productive use in trade, business or for investment. It allows a taxpayer to defer payment of capital gains tax on investment properties that are sold. A taxpayer...

read more