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Small businesses now have an ability to get a chapter 11 plan confirmed without any creditor voting in favor of its plan and with no ability for creditors to file competing plans under a new law effective February 19, 2020. The Small Business Reorganization Act of 2019 (“SBRA”) enables small businesses to essentially discharge their [...]

Borrowers sometimes say, “I get an audit [efn_note] Audit – Google search: “A systematic examination of books, accounts, documents, and vouchers of an organization to ascertain how far the financial statements present a true and fair view of the concern.” Note: many small businesses do not get an Audit of their books by a CPA, [...]