BW INSIGHTS

Business Considerations for Those Impacted by COVID-19

By William Brown | 05.05.2020

While businesses have patiently awaited the lifting of closure orders associated with the pandemic, the uncertainty of business recovery looms as state and local governments begin easing closure restrictions. What will business look like in the post-closure world? How long will it take for business to recover? These are amongst the most pressing... Read More

PPP Portal Opens to Small Lenders Only for 8 Hours

By BrownWinick | 04.29.2020

On Wednesday, April 29, the U.S. Treasury and Small Business Administration (“SBA”) announced that for eight hours, big banks will be prevented from accessing the Paycheck Protection Program (“PPP”) portal. During this time, small lenders will have exclusive access to submitting applications for PPP loans. A lender with under $1 billion in assets... Read More

Paycheck Protection Program Resumes Monday, April 27th

By Amy Johnson | 04.24.2020

If you have not already taken advantage of it, the SBA will be accepting PPP applications starting Monday morning. We recommend reaching out to your banker right away to get the ball rolling as the new appropriation will be given on a first-come first-served basis. Let us know what we can do to be of assistance – we have already helped numerous... Read More

Making a big change to your business? We can help.

By BrownWinick | 04.21.2020

COVID-19 has drastically altered market demands and in response, some companies are temporarily changing their business models to manufacture products that are desperately needed. We have ethanol plants manufacturing hand sanitizer, clothing companies making surgical gowns, and plastic molding companies making face shields. One hurdle to making... Read More

Negotiating M&A Deal Terms During the COVID-19 Outbreak

By BrownWinick | 04.13.2020

If you are in the process of negotiating the purchase or sale of a company’s assets, a large ownership stake in a company or some other merger or acquisition (“M&A”) transaction for a business, consider if and how COVID-19 could impact the terms of your deal, including those listed below. 1 - Purchase Price: Before signing up a deal, the parties... Read More

Federal Bank Regulators Issue New Guidance on Paycheck Protection Program Facility

By Ellen Hames | 04.10.2020

Type of Action: Interim Final Rule Issued By: Department of Treasury Office of Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Board”), and the Federal Deposit Insurance Corporation (“FDIC”). Date issued: April 9, 2020 To provide a bit of background – on April 7, 2020 the Board authorized Federal Reserve... Read More

Is Your Business at Risk for Coronavirus Lawsuits, and What Can You Do NOW To Avoid It?

By Michael Dee | 04.06.2020

Whether you are a small business, large business or even a government entity, are you ready (or preparing your business) for the onslaught of lawsuits resulting from the pandemic? Google “coronavirus lawsuits” — over 300 billion hits. Unfortunately, a number of those hits are plaintiffs’ class action law firms asking people to submit information... Read More

Interim Final Rule Issued for Paycheck Protection Program April 3, 2020

By Ellen Hames | 04.03.2020

On April 3, 2020, the U.S. Small Business Administration issued an Interim Final Rule regarding the Paycheck Protection Program, accessible here: https://content.sba.gov/sites/default/files/2020-04/PPP--IFRN%20FINAL.pdf (the “Rules”). These Rules implement the Paycheck Protection Program sections (sections 1102 and 1106) of the Coronavirus Aid,... Read More

Leading Through Chaos

By Brian McCormac | 04.02.2020

I recently had the pleasure of participating in a panel discussion on “Leading through Chaos” with Dawn Buzynski of Strategic America and Vince Newendorp of Vermeer. Little did any of us know that about two weeks later the stock market would crater, a global pandemic would cause most of the nation to be placed on lock-down, and vast business... Read More

Do You Have Insurance for Lost Business Due to COVID-19?

By Ellen Hames | 03.31.2020

Unless you are extraordinarily fortunate, your business will surely see a drop in revenue due to the economic slowdown caused by the virus. Do you have insurance coverage for this? Past world events such as the Ebola outbreak, 9/11 and hurricanes can provide some guidance. Rest assured, however, that insurance companies will be inundated with... Read More