Overview Business owners are often required to sign personal guarantees on business loans. Lenders may need additional security on the loan or may just want the owner to have personal “skin in the game.” A personal guarantee, in this circumstance, is a legal contract made…
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Stay-at-home orders and the economic disruption caused by the COVID-19 pandemic have taken their toll on several industries, including construction. The impact of the pandemic has made it impossible, or at least more expensive, for projects to proceed on schedule. Contractors experiencing losses or delays…
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The recently passed Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) has important provisions for small businesses under what is called the “Paycheck Protection Program,” which addresses temporary changes to 7(a) loans [P.L. 116-136.] Under the program, the Small Business Administration (“SBA”) will…
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Business borrowers that find themselves in default on a promissory note or other credit facility may be asked by the lender sign a “forbearance agreement.” Often, these are presented by the lender as a generous concession on their part in order to give the borrower…
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Capes Sokol announced today the addition of four litigators to the St. Louis-based firm. R. Thomas Avery, Kelley F. Farrell, David H. Luce and Traci Dale Pupillo will join the firm as shareholders. “Thom, Kelley, Dave and Traci are all exceptional and highly skilled trial…
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