skip to main content

Secured Lender

Commercial Collection Issues in a COVID-19 Economy

The daily news reminds us of the growing grim economic toll wrought by the COVID-19 pandemic. As discussed in some of our prior Alerts, federal, state and local governments have adopted various measures to moderate some of these effects, including offering stimulus payments and loans, and…

Read More

Preparing for the (Likely) Coming Wave of Bankruptcies

As the economic fallout from the COVID-19 pandemic continues to rise – for example, J. Crew recently filed bankruptcy, and the financial press is predicting that Neiman Marcus may also file for relief this week – it seems prudent for secured lenders to consider what steps they can take to prepare…

Read More

Illinois Eviction Moratorium: Relief Extended to Non-Residential Tenants

On April 23, 2020, Illinois Governor J.B. Pritzker signed Executive Order 2020-30 (“Order”), which, among other things, extended relief previously provided by Executive Order 2020-10 prohibiting law enforcement from enforcing eviction orders for residential properties, and broadened this relief to…

Read More

Federal Reserve Announces the Main Street Lending Program

On April 9, 2020, the Board of Governors of the Federal Reserve Bank (the “Fed”) announced preliminary details of two new loan programs that have aggregate funding of $600 billion, offered as part of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). They are called the Main…

Read More

Important Updates On PPP Loans - Recent SBA Guidance

This week the Small Business Administration (SBA) released guidance on two important topics of the Paycheck Protection Program: acceptable form of promissory note and required funding periods.

The SBA and Treasury Department provided guidance through their Frequently Asked Questions (FAQs) regarding…

Read More

Indiana Expedites Implementation of Remote Notary Statute - Part I

In response to social distancing mandates, the Indiana Secretary of State has expedited the implementation of Indiana’s previously adopted remote notarial act statute. The statute would not have become effective until July 1, 2020 but is now effective March 31, 2020.  Active Indiana notaries may…

Read More