Need and speed can be a dangerous combination. Just ask Peter “Maverick” Mitchell. That’s a lesson that lenders and borrowers are discovering with CARES Act Payroll Protection Program (PPP) loans. The CARES Act’s PPP provisions promise accessible liquidity support for franchises and small businesses. Indeed, Treasury Secretary Mnuchin said PPP or Emergency Income

On April 3, 2020, banks commenced taking applications for the Small Business Administration’s (“SBA”),  Paycheck Protection Program (the “PPP”) loans, as provided in the Coronavirus Aid, Relief, and Economic Security Act aka the CARES Act.  At the highest level, the PPP allows eligible businesses to borrow up to 2.5x average monthly payroll costs

Many franchisors have experience with the U.S. Small Business Association (“SBA”) as numerous franchisees utilize the SBA’s loan programs for small businesses. Previously, franchisors could send an application to the SBA to get on the Franchise Registry. During this process, the SBA reviewed the franchise agreement and drafted an addendum to revise the franchise agreement

40206151_s (1)Each time franchisors update their franchise disclosure documents (“FDD”), they have a choice:  whether or not to include financial performance representations (“FPR”).  A new bill introduced by Representative Keith Ellison (D-MN) makes the choice much easier…by taking it away…at least for some franchisors. The SBA Franchise Loan Transparency Act of 2015 (the “Act”) would make

The US Small Business Administration (SBA) has announced that their loan programs have posted the second largest dollar volume ever in fiscal year 2012, such programs supporting $30.25 billion in loans to small businesses comprised of 53,848 loans.

The amount supported under the SBA’s 7(a) General Business Loan Program and the 504 Certified Development Company

I recently attended a Meet the Lender’s Networking Reception hosted by the recently launched Philadelphia Chapter of the International Franchise Association’s Women’s Franchise Network 

The reception was designed to help franchisors and franchisees build connections with regional lenders and stay updated on the industry. The first event of the Philadelphia Chapter WFN was a relaxed way