April 2020

Business interruption insurance compensates the policyholder for lost business income if the policyholder’s company had to vacate the premises or close its doors. The cause is due to disaster-related damage that is covered under the policy. In other words, this insurance covers the revenue you would have earned, based on your financial records, had the […]

Do you qualify for a PPP Loan if you are an Independent Contractor or Sole Proprietor? For an individual with Self-Employment Income who files a Form 1040, Schedule C to be eligible for a Payroll Protection Program (PPP Loan), it must meet the following requirements: In operation on February 15, 2020; An individual who is

As the “Paycheck Protection Program” (“PPP”) was put into action, it brought with it, anxiety for multiple businesses. This anxiety is the result of the PPP’s confusing language, and lack of any clarifying guidance able to untangle it. Worse off, businesses were left to apply for shelter in an unprepared banking system only to find

Effective April 9, 20201 Program: The Main Street New Loan Facility (“Facility”), which has been authorized under section 13(3) of the Federal Reserve Act, is intended to facilitate lending to small and medium-sized businesses by Eligible Lenders. Under the Facility and the Main Street Expanded Loan Facility (“MSELF”), a Federal Reserve Bank (“Reserve Bank”) will

One of the most important considerations for potential franchisees to address when negotiating and signing the relevant contracts is his or her franchise’s territory. When you are operating as one location that is part of a much larger corporation, you must perform a great amount of due diligence to ensure that your assigned territory is

Business interruption insurance compensates the policyholder for lost business income if the policyholder’s company had to vacate the premises or close its doors. The cause is due to disaster-related damage that is covered under the policy. In other words, this insurance covers the revenue you would have earned, based on your financial records, had the

In our last blog, we discussed contracts during the coronavirus pandemic. Today’s blog will get a little more specific to discuss commercial leases. These are quickly becoming a point of contention among many business owners. This is because of recent pressures with the pandemic as well as long-standing concerns that have long predated it. Keep

Boilerplate clauses are, by definition, routine provisions that appear in nearly all business contracts and are often overlooked. This does not mean they lack significant weight or have any impact on your business agreement. The purpose of boilerplate clauses is to protect the interests of all parties that sign the contract. In practice, some may

There are many actions that have to be undertaken prior to a corporation coming to life. One of the most important aspects of incorporation is the role of promoters. Promoters are individuals who take the initiative in founding and organizing the business or enterprise. They are needed to raise capital, enter contracts, and ensure an