Category Archives: Corporate
Are you looking to buy a business? Has the Seller told you the company has no liabilities? Then when you ask about the SBA loans, does the Seller tell you the PPP loan was forgiven? If the answer is yes, then ask one more question. Did the Seller take out an Economic Income Disaster Relief Loan? These loans varied ...read more
By Brian R. Miller, Esq. Lots of people dream of starting their own business, but few know where to start. The Miller Law Firm, P.A. has advised small businesses and even single-person entities for years. Here are the basics. 1. ...read more
According to the SBA, any business that took out an Economic Injury Disaster Relief loan (“EIDL Loan”) in excess of $25,000.00 and wishes to sell or transfer ownership of the business through a merger, stock sale, or asset sale will require SBA approval. During the initial phase of funding for EIDL loans over $25,000.00 the SBA required a security interest in the assets of the business, but no personal guarantee....read more
Many of us who own and run small businesses over the past year, whether professional services businesses, restaurants, shops, theaters, or any business relying on interactions with the general-public, have spent hours awake at night terrified about what comes next with COVID. While larger companies have easily transitioned to online platforms, part of the charm of small businesses is the ability and willingness t...read more
On March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (also known as the “CARES Act”). The purpose of the Act, as stated, is to “[p]rovid[e] emergency assistance and health care response for individuals, families and businesses affected by the 2020 coronavirus pandemic.” This monumental, $2-billion-dollar stimulus package, is the largest disaster relief package in U.S. history and ...read more
2021 was the year some small business owners simply gave up. When the government changes the rules seemingly every week it can be difficult to keep up. Owners who were thinking about selling before the pandemic may have decided to hasten their departure and ride off into the sunset leaving COVID regulations worries far behind. But what do business owners selling during COVID have to consider in relation...read more
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