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Paycheck Protection Loans – Next Steps

Can I Still Get a Loan? If you have not yet applied for Paycheck Protection Plan loan there may still be time for you to do so.  As of May 1, 2020, the Small Business Administration has approved funding for over 2.2 million loan applications for loans that total a little under $176 billion of Read More

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Paycheck Protection Program Loans- How is the Average Monthly Payroll Calculated?

The rollout of the Paycheck Protection Loan program has been anything but smooth as the hastily written statute had provisions that did not make sense and the implementing regulations that were drafted just as quickly, sometimes led to more questions than answers.  The banks that have opened their online portals to accept applications have each Read More

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Paycheck Protection Plan Loan Updates

On April 2 the Small Business Administration issued interim rules to implement the Paycheck Protection Loan provisions of the CARES Act. The Rules: increased the interest rate on the loans to 1% (from 0.5%) – the repayment period for any portion of the loan that is not forgiven remains at 2 years); clarify that household Read More

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Update on Paycheck Protection Plan Loans

Update on Paycheck Protection Plan Loans A paycheck protection plan loan can provide small businesses adversely affected by the COVID-19 virus with a way to pay their employees, rent and utilities. These loans can be forgiven if the loan is used for the approved purposes. Businesses can get up to 2.5 times the amount of Read More

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COVID-19 LOAN AND GRANT ASSISTANCE FOR SMALL BUSINESSES

On Friday March 27, President Trump signed into law the CARES Act which makes new loans available to small businesses and non-profits. The programs described below are managed through the Small Business Administration, which will be issuing guidance in the coming days as to where and how you can apply for assistance. LOANS TO FUND Read More

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Those Are Corporate Assets – You Can’t Seize Those to Pay My Personal Debt – Or Can You? – Piercing the Corporate Veil in Reverse

By Susan J. King, Esq. Traditionally, corporations and limited liability companies are treated as legal entities that are separate from their officers and equity holders, and the debts of the company are not debts of the owner and vice versa. The courts have, however, held owners personally liable for debts of the entity where the Read More

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Equity Crowdfunding: It is Finally Available for Small Capital Raises

By Susan J. King, Esq. The long awaited rules from the U.S. Securities and Exchange Commission on equity crowdfunding for small businesses finally took effect on May 16, 2016. Most non-public U.S. companies can use the new rules to raise up to $1 million in a 12 month period. The amount that any single investor Read More

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Avoiding and Challenging a Default Judgment in Virginia

If you learn that a default judgment has been entered against you or your business as a defendant in a lawsuit, it is important to seek legal advice immediately. How quickly you act can have a tremendous impact on your ability to overcome a default judgment. How to Avoid a Default Judgment Although there are Read More

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Putting Some Basic Agreements in Place at the Beginning Can Be Key to a Successful Business

Entrepreneurs face many challenges when starting a new business. Taking the time to put to structure the relationships between the founders, and to document key relationships with partners, contractors and employees are items that always seem to be on the “to do” list. However devoting the time and resources to take care of these tasks Read More

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SEC Adopts Rules Disqualifying “Bad Actors” from Participating in All Rule 506 Offerings and Allowing Advertising of Private Placement Offerings

SEC ADOPTS RULES DISQUALIFYING “BAD ACTORS” FROM PARTICIPATING IN ALL RULE 506 OFFERINGS AND ALLOWING ADVERTISING OF PRIVATE PLACEMENT OFFERINGS. On July 11, 2013, the SEC released long awaited rules that permit advertising of some private placement transactions. The SEC also adopted rules that prohibit “bad actors” from participating in private placements exempt under Rule Read More

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  • "Defended and achieved favorable settlement of wrongful termination and discrimination claims brought in United States District Court for the Eastern District of Virginia."

  • "Served as outside counsel to several franchisors, prepared franchise agreements, franchise disclosure documents and state franchise registrations, and counseled franchisors regarding franchise compliance issues."

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