As a result of the Coronavirus (“COVID-19”) pandemic, the federal government has passed several pieces of legislation in an attempt to provide relief to struggling businesses. One of these Acts is the Coronavirus Aid, Relief, and Economic Security Act (also known as the “CARES Act”). However, since this legislation was…
Hi, I’m Rob Chewning. I work with the firm of McLaughlin & Nardi, LLC. At the firm we practice several different types of law, including bankruptcy law. I am here today to talk to you about The Small Business Reorganization Act and Subchapter 5 bankruptcies. As a result of COVID-19,…
As a result of the Novel Coronavirus (“COVID-19”), the federal government has passed significant legislation in an attempt to provide relief to businesses struggling with economic hardships as a result of widespread closures and stay-at-home orders. One major part of these governmental actions includes the passage of the Coronavirus Aid,…
As a result of the Coronavirus (COV-19), millions of small businesses have been forced to close their business operations entirely with seemingly no end in sight. Naturally, this has led to a spike in bankruptcy filings. However, many small businesses have held out hope for federal stimulus aid before deciding…
Since the COV-19 outbreak began, more than 22 million Americans have filed for unemployment. The increase in unemployment filings have been the result of businesses of all sizes being forced to shut down entirely or significantly limit their operations. As a result, many people, both employers and employees, are seeing…
The Coronavirus (COV-19) has had a negative impact on everyone physically, mentally, and financially. Businesses are no different. Small and medium sized businesses are especially vulnerable in these troubled times. They are faced with difficult decisions such as whether to temporarily lay off their employees or which bills to pay…
As a result of the Coronavirus (COV-19), the unemployment rate has increased rapidly and reports suggest that the unemployment rate may reach 30% in the country. This immediate loss of income for many individuals and families have left them unable to meet their continuing financial obligations such as paying for…
The need to file bankruptcy can come quickly and abruptly due to a serious life event such as a serious medical diagnosis that results in large medical bills or being terminated or laid off from a job that results in a loss of income. Many individuals have experienced this as…
The Federal and State Government has set up avenues of relief to assist businesses in these hard times in the form of loans and grants. Below is rundown of the New Jersey Economic Development Authority (NJEDA) Small Business Emergency Assistance Grant Program, through which New Jersey is offering Coronavirus relief…
In this time of economic uncertainty due to the coronavirus and the social distancing required to slow it, our attorneys and staff are helping New Jersey businesses seek financing under the new Federal Small Business Paycheck Protection Program. The basic elements of the program are below. Call us to obtain…