You’ve probably heard that arbitration is a good option for businesses dealing with disputes, but you may not know much about it. It is a process much like courtroom litigation, except that it is somewhat less formal in terms of both procedure and rules of evidence....
Mezzanine lenders are coming for commercial landlords
Unlike traditional mortgages that are secured by the property in question, mezzanine loans are backed up by your business. A foreclosure doesn’t just mean losing the property. It could mean losing a percentage of your business. Unfortunately, mezzanine lenders tend to...
Should you stop withholding payroll taxes?
It’s a fair question. When the White House announced a payroll tax holiday, the hope was that it would result in larger paychecks and boost the economy. However, the president doesn’t have the authority to cut payroll taxes on his own, so the tax holiday only suspends...
How do you shut down your startup?
According to Harvard Business School, 30% to 40% of business startups fail. That means the company liquidates all of its assets and the investors lost much or all of their investment. If you measure failure by whether the company reached its projected return on...
Many companies have sued over denied business interruption claims
When the coronavirus lockdowns occurred, some businesses thought they had insurance that would cover their losses: a business interruption policy. Unfortunately, the insurers have insisted that pandemics are excluded from most of these policies. Or worse, they refuse...
I’m being sued for breach of contract. What do I do?
If you have been served with a breach of contract lawsuit, don’t panic. It may not be fun, but it’s not the end of the world. You may fear that you will be forced to pay money, but there are a lot of steps that take place before you reach that point. Your first step...
I need to collect a business debt. What are the steps?
These days, every business needs to collect on every debt it can. When it comes to collecting business-to-business debts, you may need all the help you can get. The basic steps in business debt collection include 1) demanding payment, 2) getting a lien and 3)...
8 tips for resolving business disputes through mediation
In today’s challenging environment, no one wants a costly business dispute taking their time and attention away from keeping their business operating. Worse would be litigation, which can be expensive, time-consuming and uncertain. One way to resolve business disputes...
Is it time to consider a new entity for your business?
As your business works to get through these hard times, you may wonder if you have structured your company in the most advantageous way. The question requires attention to the same issues you originally considered: your management style, your taxation preferences, and...
Fed: Main Street Lending Program will lend to small nonprofits
For the first time since the Great Depression, the federal reserve will be lending directly to some companies through its Main Street Lending program. The idea is to target businesses that were successful before the pandemic but which are now struggling. And, the...