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…
As a result of the coronavirus (“COVID19”), the federal government has taken significant action to provide relief to individuals and business struggling with economic hardships as a result of lost business during widespread closures and stay-at-home orders. The first major legislation passed by the federal government was the Families First…
In the time of the Coronavirus (COVID19), many people are concerned about the likelihood of needing to file for unemployment benefits in New Jersey in the near future. Certainly, many people will be in need of New Jersey State assistance in 2020 and beyond as a result of the coronavirus…
The Order On Saturday, March 21, 2020, Governor Murphy signed Executive Order Number 107, which further tightened restrictions on people and businesses in response to the Coronavirus/COVID-19 pandemic. This Executive Order superseded all previous Executive Orders on Coronavirus responses. For businesses, one thing to realize is that the only…