Category Archives: Small Business
Should You Apply for Loan Forgiveness for Your PPP Loan or EIDL Advance?
The Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) are emergency measures to help small businesses stay solvent during the COVID-19 pandemic. When both initiatives were created, we were optimistic that the worst of the COVID-19 pandemic would be over by the end of the summer. Now that schools in the Washington… Read More »
Certificates of Good Standing for Maryland Businesses: Don’t Let the Scam Fool You
Fraud and misinformation thrive in uncertain times, and the age of the COVID-19 pandemic certainly qualifies. Small business owners are fearing a dismal future and receiving conflicting information about what is next regarding being open for business, rent payments on commercial properties, tax deductions, and business loans. The unwritten rule of survival for small… Read More »
Does a Handshake Count as a Legally Enforceable Contract?
TV shows about legal disputes often leave viewers with the impression that the only difference between an empty promise and a legally enforceable contract is that the latter is written and signed, whereas the former is merely spoken. You would think that all business agreements are no better than tall tales exchanged over one… Read More »
Pre-Pandemic Tax Deduction May Offer Big Savings for Some Small Businesses
During the COVID-19 pandemic, many small business owners have turned to the Internet, as well as to their small business lawyers, to help them find creative solutions to the challenges the ongoing pandemic presents to economic recovery. Better days will eventually come, but what should small businesses do to stay solvent until those days… Read More »
Negotiation, Not Eviction, Is the Best Solution to Disputes Between Commercial Tenants and Their Landlords During the COVID-19 Pandemic
The Washington DC area is doing a lot better than most places in the United States at this stage in the COVID-19 pandemic, but even here, every small business owner’s plans are in disarray. Paying rent on a store or other commercial property that is only open at limited capacity, if at all, is… Read More »
When Your Business Model Adapts to the Changing Times, but Your Landlord Doesn’t
Customers and business owners are eager to participate in the economy in whatever ways they can. Washingtonians enthusiastically buy food from the curbside versions of their favorite restaurants during their breaks from working at home. Adapting to the economic climate of the COVID-19 pandemic is essential to the survival of small businesses, and entrepreneurs… Read More »
Should You Return Your Paycheck Protection Program Loan Money?
The Paycheck Protection Program, a provision of the CARES Act designed to grant relief to small businesses, has turned out to be anything but pennies from heaven. No one was surprised that the first round of funding disappeared so quickly, since the restrictions on commercial activities were so severe that virtually every small business… Read More »
The Paycheck Protection Program: Not Just for Payroll Anymore?
To say the least, the Paycheck Protection Program, a provision of the CARES Act designed specifically to help small business owners keep workers employed, did not grant small business owners’ every wish or solve all their problems. The fact that the loan money enables business owners to keep paying their employees has protected many… Read More »
Maryland Businesses Still Waiting for Grants and Loans from the State
In March, as schools and most businesses in Maryland closed to help slow the spread of the COVID-19 virus, Gov. Larry Hogan announced that the state had pledged $125 million toward relief for small businesses, which applicants could receive in the form of grants or loans. The money was meant to help businesses cover… Read More »
New Economic Injury Disaster Loan Advance Means That You Could Get $10,000 in Your Business Bank Account Just Three Days After You Apply
As a small business owner during the COVID-19 pandemic, you are a survivor. You have used your financial and intellectual resources to find ways to reduce expenses and modify your business plan into something that is practical in the current economy. You have a three-month plan, a one-year plan, and maybe even a five-year… Read More »
