Businesses, Rent, Mortgages, and COVID-19
If you are a business owner of any kind it is likely that you are facing overwhelming uncertainty given the global pandemic of COVID-19. If you are a business that is currently leasing a property, a property owner that has a mortgage to pay out of income from leased businesses, or any type of business that deals with real estate or property, your income is likely largely affected due to this COVID-19 virus. Restaurants and small businesses are unable to pay their leases, in turn, property owners are unable to pay their mortgages, and real estate issues become serious challenges as one of many problems business owners now face.
Negotiations
If you are facing financial challenges due to the COVID-19 virus, you are not alone. Many tenants are now facing possible evictions, businesses are shuttering their doors, landlords are facing defaulted mortgages, and no one knows when the economy will even begin to return to normal. During this time, we can offer our services to any business owner. We are uniquely qualified to help negotiate issues that involve leases, mortgages and trade creditors. No one wants to face eviction, and no one wants to face foreclosure on a property due to late mortgage payments. In this instance, business owners are all in this together. At some point, this global pandemic will slow down, and life will begin to return to normal. It is important to ensure that the solid and strong business relationships you have forged for years remain strong. Our law firm can help ensure that your legal rights are protected, and ensure that all parties come to realistic agreements about what is possible in the unprecedented landscape before all of us.
Budgets
In some cases, you may simply need assistance with determining how to restructure your budget during this difficult time. We can help you look at unique and novel ways to help get through this time of uncertainty until you reach your solid financial footing once more.
Loans
Your business may qualify for the new federal loan program under the CARES Act, or the Paycheck Protection Program (PPP). If you are a Florida business, you may also qualify for the Florida Small Business Emergency Bridge Loan Program (EBL). We can help ensure that you receive the financial aid available so that you can operate your business in the short term, creating a path for you to keep your business alive until this pandemic passes.
Reach Out to Us Today for Help
We can offer you unique solutions to your lease, mortgage, budget, and financial challenges as a business owner. We can help you place some debts on hold during this time of business and financial emergency. Do not hesitate to contact our experienced West Palm Beach bankruptcy attorneys at Kelley Kaplan & Eller today at 561-264-6850 for a consultation. We are available by phone or can also visit with you through a video conference. Let us help you during this time of uncertainty to ensure that your business survives this time of crisis.
Resource:
floridasbdc.org/disaster/ebl/
https://www.kelleylawoffice.com/restaurant-owners-and-covid-19/
