Category Archives: Business
Reasons Your Business Should Consider Chapter 11 Bankruptcy
Chapter 11 bankruptcy is among the most common types of bankruptcy for businesses in South Florida. It is a type of reorganization bankruptcy, which means that your business will go through a process of filing the bankruptcy petition, proposing a debt reorganization plan, having that plan approved by the court, making regular payments on… Read More »
Selling a Business with an EIDL Loan
Did your business borrow money through the COVID-19 Economic Injury Disaster Loan (EIDL) program? If so, your business certainly is not alone. According to data from the US Small Business Administration (SBA), by the time the COVID-19 EIDL loan program closed in 2022, more than $378 billion in loan dollars had been approved, and… Read More »
Can You Modify a Chapter 13 Bankruptcy Plan to Treat a Claim Initially Handled Outside the Bankruptcy?
At Kelley Kaplan & Eller, we have guided countless clients through the Chapter 13 bankruptcy process and the details of your plan matter. A recent ruling from the United States Bankruptcy Court for the Middle District of Florida underscores just how critical it is to get your Chapter 13 plan right the first time… Read More »
What a Personal Guarantee Means for Your Business’s EIDL Loan
Businesses throughout Florida that received funding through the Economic Injury Disaster Loan (EIDL) program are now in the process of repaying those loans. With loan periods of 30 years, most businesses can expect to be repaying their EIDL loans for decades to come. Yet for businesses that are struggling financially, the prospect of repaying… Read More »
Managing Your EIDL Loan
At the start of the COVID-19 pandemic in spring 2020 and until 2022, businesses throughout South Florida were struggling immensely with business costs as a result of “lockdowns,” stay-home orders, and clients and customers in general being hesitant about being out in public and exposing themselves to virus risks. Recognizing that smaller businesses were… Read More »
Financial Hardship and EIDL Loans
Many businesses throughout South Florida are currently paying back business loans that were provided through the Economic Injury Disaster Loan (EIDL) program. A majority of EIDL loans were issued through the COVID-19 EIDL program for small businesses struggling with pandemic-related difficulties, but EIDL loans are not solely related to the COVID-19 pandemic. Beyond COVID-19… Read More »
When Can a Florida Business Obtain an EIDL Loan?
If your South Florida business is struggling financially due to an unexpected event or occurrence, you may be exploring potential loan options to help keep your company afloat. Given that they were the subject of significant news coverage for many years, you may know about the Economic Injury Disaster Loan (EIDL) program that helped… Read More »
New FTC Rule on Non-Compete Agreements
Business owners in South Florida and throughout the country should be aware of a final rule issued by the Federal Trade Commission (FTC) concerning noncompete agreements. In short, an FTC press release indicated that the final rule is designed “to promote competition by banning noncompetes nationwide, protecting the fundamental freedom of workers to change… Read More »
Lawsuits Challenge New FTC Non-Compete Rule: What Should Businesses Know?
As many business owners in South Florida now know, the Federal Trade Commission (FTC) recently announced a final rule to ban non-compete agreements. According to the FTC’s press release about the issuance of the final rule, the new rule is intended “to promote competition by banning non-competes nationwide, protecting the fundamental freedom of workers… Read More »
What You Can Do as Government Seeks to Collect Unpaid EIDL Loans
Did your business receive a loan from the US Small Business Administration (SBA) through a pandemic stimulus program such as the Paycheck Protection Program (PPP) or the Economic Injury Disaster Loan (EIDL) program? If so, and particularly if you owe money on an EIDL loan, your loan could be past-due or your Hardship Accommodation… Read More »
