Money – Midi Locator Thu, 27 May 2021 22:37:40 +0000 en-US hourly 1 Money – Midi Locator 32 32 Colorado lawmakers ask Biden to stop Space Command transfer to Alabama Wed, 07 Apr 2021 23:16:11 +0000

Colorado’s congressional delegation today called on President Biden to halt the relocation of US Space Command headquarters from their state to Alabama pending review of a core selection process he called of “neither fair nor impartial”.

“In addition, there is significant evidence … that President Trump’s political considerations influenced the final decision,” the letter from the Colorado delegation reads.

Earlier this month, the Air Force named Huntsville Redstone Dockyard its “preferred location” for the permanent command headquarters. He has since championed the process that ranked Alabama out of five other competing states, including Colorado, Florida, New Mexico, Texas and Nebraska.

Command was placed in Colorado Springs when it was created and activated, but it was still a decision pending review leading to a permanent selection of headquarters.

Letter from the Colorado delegation initially attacked the move to Alabama as a threat to national security. Colorado is already home to “the country’s primary military and space coordination entities,” the letter said, and it is “essential to our space superiority” that they stay together.

The letter also cited what it called a “risk” of losing key personnel who did not want to move to Alabama, political influence in the decision, lack of transparency and lack of sufficient data to justify the move.

The Air Force defended its site selection process story Friday again that, “the secretary of the air force carefully considered all the contributions, the comments, the staff analysis, the best military advice, the changes in the strategic environment and what criteria of evaluation are the most important.

“Given the complexity and importance of this decision,” said the Air Force press office, “it also received comments from the National Command Authority, from the oversight committees. defense, senior commanders and functional staff experts before making a decision on the preferred location.

After considering all of this, the Air Force said Secretary Barbara Barrett chose Huntsville.

The Colorado letter was signed by Senators Michael Bennet and John Hickenlooper and Congressmen Doug Lamborn, Joe Neguse, Diana DeGetter, Ed Perlmutter, Jason Crow and Ken Buck.

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Some schools in Genesee County welcomed all students to class this week Wed, 07 Apr 2021 23:15:54 +0000

GENESEE COUNTY, MI – Some schools in Genesee County have welcomed all students back to class this week.

Districts that resumed in-person learning on Monday, Jan. 4 include Davison Community Schools, Goodrich Area Schools and Clio Area Schools.

While some elementary and middle schools were open in December, most high schools remained closed following an order from the Michigan Department of Health and Human Services.

Governor Gretchen Whitmer announced on November 15 that in-person learning in middle and high schools must interrupt face-to-face classes for three weeks, starting Wednesday, November 18.

Whitmer later extended the partial shutdown until December 20, when many schools are closed for the holidays.

Schools in the Clio area have not had to close this year due to COVID-19 due to “his exceptional actions by staff and parents,” Superintendent Fletcher Spears wrote in a Jan. 2 letter.

The district decided to bring all the students back as soon as possible.

“We need to keep our schools open for the benefit of our students,” Spears wrote. “Please be sure to closely monitor your student’s health. Temperatures should be taken daily before leaving for school. We want to ensure the good health of all our students and staff and we want to keep all of our buildings open and in good working order. “

The Goodrich Area Schools School Board voted this month to send all students back to class. On January 4, the day school was due to resume after his vacation.

Genesee County superintendents continue to meet weekly with the local health department, Goodrich Area Schools Superintendent Wayne Wright wrote in a Dec. 28 letter.

“I want to thank you for the success of the first half of our school year,” Wright wrote. “In these difficult times, our staff are committed to providing our students, whether face-to-face, virtual or remote, with excellent training. I thank our students for their commitment to learning and I thank our parents for their commitment to supporting their students and our staff.

Read more:

Michigan Prepares To Resume In-Person High School Education

Most Genesee County school districts offering in-person classes will switch students to distance learning

Goodrich Schools Predict All Students Return, Calling On Families To Limit New Years Gatherings

Flush schools to bring back blended learning in person

Social media claims children could be vaccinated at school without parental consent denied by Genesee County officials

Swartz Creek Schools Extend Break to In-Person Instruction for All Levels

Most Davison students will return to in-person learning, but high school students will not after the partial state shutdown is extended

Davison schools are ‘ready and excited’ to bring students back to in-person learning next week

Bentley Schools Extend Distance Learning Through Semester End

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Popeyes to launch chocolate-filled donuts across the United States Wed, 07 Apr 2021 23:15:51 +0000

Popeyes, a chicken sandwich supplier and popular New Orleans fast food chain, has just rolled out chocolate donuts to its menu in select locations. A national release will follow soon.

Foodbeast reassures Readers hungry that they won’t have to head to the Big Easy for this delicious treat – the online food magazine was able to find the donuts on Popeyes menus located in Massachusetts, Boston included. A Popeyes rep contacted by Foodbeast confirmed that while chocolate-filled donuts are currently only found in a few places, they will eventually make their US debut on an undisclosed date.

The chocolate-filled donuts will be available in three different servings: three for $ 1.99, six for $ 3.99, and a dozen for just $ 7.49. Such a small price for so much happiness.

Donuts have been a staple of New Orleans cuisine for quite some time (and are, in fact, the state’s official donut). The square fried dough topped with powdered sugar first entered the city’s culinary scene in the 18th century all this thanks to the French immigrants who settled there and who have stayed there ever since.

High-end donuts were certainly popularized in part thanks to the famous Café Du Monde, a beer garden famous for its chewy donuts. An old article starring Café Du Monde claims that a lady from New England who swore she would never eat a donut ended up laughing at four donuts after agreeing to try just one.

If she was living in Massachusetts at the time, she would probably be heading to Popeyes right now.

While waiting for the chocolate-filled donuts to release at your local Popeyes, try to calm your appetite with an apple pie with cinnamon of the chain, just in time for fall.

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MetLife Investment Management to Provide USD 161 Million / GBP 117.5 Million in Funding for the English Football League Wed, 07 Apr 2021 23:15:47 +0000

WHIPPANY, NJ AND LONDON – () –MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it will provide funding of $ 161 million / GBP 117.5 million to English Football League (EFL) to strengthen the league’s financial support to its Championship Clubs.

The funding agreement will allow the EFL to provide championship clubs with immediate additional funding after a difficult 12 months when the finances of many clubs were affected by the COVID-19 pandemic. Championship clubs have now played the equivalent of a full season without spectators due to the pandemic prevention measures, which impacted Gates revenue and other revenue streams for the day.

Rick Parry, President of the English Football League, said: “Last week marked an unfortunate anniversary for football as supporters are now unable to attend matches for a period of 12 months, with multiple consequences. negative. It is therefore a timely and welcome support package for Championship clubs, whose operations have continued to incur significant costs without generating near-normal revenues. ”

“I would like to thank MetLife Investment Management for the positive and proactive approach they have taken throughout our negotiations and for meeting our demands under a unique set of circumstances. The support will be essential for clubs to reassess their financial situation and help them begin to chart their way out of the pandemic and plan with more certainty for 2021/22 as we look forward to the return of fans in large numbers. ”

“We know that a healthy and vibrant football environment with strong and resilient clubs is important to the UK,” said Steven J. Goulart, President of MetLife Investment Management and Chief Investment Officer of MetLife, Inc. “We We are delighted to be working with EFL so that they can support their league clubs with additional funds when needed, further building a strong and sustainable football landscape and ultimately supporting the communities of which they are a part.

MIM Private Capital Group has been an active participant in the global sports industry for the past 15 years, the company investing in a range of transactions including stadium construction and team funding in countries across Europe. The group comprises private placements, infrastructure and structured credit investment management, and is active in a wide range of industrial sectors, including general industry, healthcare, professional services, retail, utilities, power transmission, renewable energy and social housing, among others. As of December 31, 2020, MIM had $ 130.9 billion in private fixed assets under management1 and $ 659.6 billion in total assets under management.2

About MetLife Investment Management

MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global fixed income, private equity and public real estate manager providing tailored investment solutions for institutional investors of the whole world. MetLife Investment Management offers public and private pension plans, insurance companies, endowments, funds and other institutional clients a range of tailor-made investment and financing solutions seeking to meet a range of long-term investment goals and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2020, total assets under management of $ 659.6 billion.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its clients individuals and institutions to navigate their changing world. Founded in 1868, MetLife is present in more than 40 markets around the world and occupies leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information visit

Forward-looking statements

The forward-looking statements contained in this press release, such as “may”, “continued”, “may”, “plan”, “plot” and “will”, are based on assumptions and expectations that involve risks and risks. uncertainties, including “risk factors” described by MetLife, Inc. in its filings with the United States Securities and Exchange Commission. MetLife’s future results may differ and it has no obligation to correct or update any such statements.

End Notes

1 As of December 31, 2020. At estimated fair value. Private Capital AUM comprises private companies, private infrastructure, residential mortgages, alternatives, private middle market capital and private structured credit.

2 Total Assets Under Management includes all of MetLife’s general and segregated account assets and unaffiliated / third party assets, at estimated fair value, managed by MIM.

]]> 0 What makes Alphabet Inc. (GOOG) such a high-momentum stock: buy now? Wed, 07 Apr 2021 23:15:47 +0000

MOmentum investing involves following the recent trend of a stock, which can be both ways. In the “long” context, investors “will essentially buy at a high price, but hope to sell even more”. And for investors who follow this methodology, it is essential to take advantage of trends in a stock’s price; once a stock sets a course, it is more than likely to continue moving in that direction. The goal is that once a stock takes a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular feature of the stock, it can be difficult to define. The debate over which best and worst measures to focus on is a long one, but the Zacks Momentum Style Score, which is part of the Zacks style sheet music, helps us to solve this problem.

Below we take a look at Alphabet Inc. (GOOG), which currently has a Momentum Style Score of B. We also discuss some of the major drivers of the Momentum Style Score, like price variation and earnings estimate revisions.

It’s also important to note that Style Scores work in addition to the Zacks Ranking, our stock rating system which has an impressive track record of outperforming. Alphabet Inc. currently has a Zacks rank of # 2 (Buy). Our research shows that stocks ranked Zacks Rank # 1 (Strong Buy) and # 2 (Buy) and style scores of A or B outperform the market within the next month.

You can see the current list of Zacks # 1 Rank Stocks here >>>

Ready to beat the market?

In order to see if GOOG is a promising start-up pick, let’s take a look at some elements of the Momentum style to see if this company holds up.

A good benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and whether buyers or sellers currently have the upper hand. It is also useful to compare a stock to its industry, as this can help investors identify the best companies in a particular field.

For GOOG, shares rose 5.02% over the past week, while Zacks’ internet services sector rose 0.34% over the same period. Stocks look pretty good from a longer time frame, as the 9.95% monthly price change also compares favorably with the industry’s 4.38% performance.

Considering longer-term price metrics, such as performance over the past three months or the year, can also be beneficial. In the last quarter, shares of Alphabet Inc. rose 25.97% and 87.51% last year. In contrast, the S&P 500 moved only 9.79% and 66.07%, respectively.

Investors should also pay attention to GOOG’s 20-day average trading volume. Volume is useful in many ways, and the 20-day average sets a good price / volume benchmark; a rising stock with above average volume is usually a bullish sign, while a falling stock with above average volume is usually bearish. GOOG currently has an average of 1,433,777 shares over the past 20 days.

Revenue Outlook

The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends also remain at the heart of Zacks Rank. A good path here can help show some promise, and we’ve recently seen that with GOOG.

Over the past two months, 3 revenue estimates have increased from none lower for the full year. These revisions helped raise the GOOG consensus estimate from $ 68.86 to $ 69.28 in the past 60 days. For the next fiscal year, 3 estimates have increased while there have been no downward revisions during the same period.

At the end of the line

Considering these factors, it shouldn’t come as a surprise that GOOG is a # 2 (Buy) stock and has a Momentum Score of B. If you’re looking for a new pick that should skyrocket in the near term, be sure to check out keep Alphabet Inc. on your shortlist.

Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Five communities come together to offer loans to small businesses Wed, 07 Apr 2021 23:15:47 +0000

ACTON – Five communities have come together to provide forgivable loans to local small businesses, in partnership with The Resource Inc. Cities include Acton, Boxboro, Littleton, Maynard and Westford.

Acton, who will lead the program, received $ 1.6 million as part of a community development block grant for a microenterprise forgivable loan program. This program will provide eligible businesses with a one-time grant of up to $ 10,000 towards costs, including rent, staffing and utilities. The Coronavirus Help, Relief and Economic Security Act initially provided funds to the state to support businesses at the local level.

Eligible businesses will have five or fewer employees, including owners. The homeowner (s) must meet low to moderate household income criteria, as designated by the US Department of Housing and Urban Development in all five cities.

“We are grateful to be able to use this $ 1.6M in CARES CDBG-CV funding to help micro-businesses in our five communities that have been financially impacted by the COVID-19 pandemic, as well as two other programs targeting health providers. social services, which will be announced in early February, ”said John Mangiaratti, Director of the City of Acton. “These businesses have been significantly affected by the pandemic over the past year, and this funding, which can be used for expenses not covered by other funding programs, we hope will greatly help our local businesses through. this difficult period.

“The City of Westford is pleased to announce this grant program of up to $ 10,000 for eligible microenterprises and looks forward to helping these businesses continue to operate during these unprecedented times,” said the director of the City of Westford, Jodi Ross. “These businesses are part of our community and are essential to maintaining our uniqueness.”

“Littleton is delighted to join our neighboring communities to support local businesses that have been greatly affected by COVID-19,” said city administrator Anthony Ansaldi. “The pandemic has highlighted the importance of our local businesses, the role they play in our community and how they help define the character of our city.

According to a Harvard University study released last month, the number of small businesses in Massachusetts has declined 37% since last year, and the revenues of those still open have declined by 44%. The hospitality and retail sectors were among the hardest hit.

For more information and to see if your business is eligible, visit and choose the Acton Boxboro tab to complete the pre-application questionnaire. Once submitted, applicants will receive an email with further instructions. Pre-requests are reviewed on a first come, first served basis.

Contact TRI at for any questions.

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Comprehensive report on the digitization of the loan market 2021 Wed, 07 Apr 2021 23:15:47 +0000

Digitization in the loan market Research is an intelligence report with meticulous efforts undertaken to study accurate and valuable information. The data that was examined takes into account both existing top players and future competitors. The business strategies of major players and new industries entering the market are studied in detail. Well explained SWOT analysis, revenue sharing and contact information are shared in this report analysis.

“Digitization in the loan market is growing at a high CAGR during the forecast period 2021-2027. The growing interest of individuals in this industry is the main reason for the expansion of this market ”.

Get the sample PDF copy (including full table of contents, charts and tables) of this report @:

The main key players presented in this report are:

FirstCash, Speedy Cash, LendUp, Elevate, NetCredit, Avant, Opportunity Financial, Prosper Marketplace, The Business Backer, Headway Capital Partners, Blue Vine, Lendio, RapidAdvance, Amigo Loans, Lendico, Trigg.

This report provides a detailed and analytical overview of the various companies striving for high market share in the global loan digitization market. Data is provided for the most dynamic and dynamic segments. This report implements a balanced mix of primary and secondary research methodologies for analysis. Markets are ranked based on key criteria. To this end, the report includes a section dedicated to the company profile. This report will help you identify your needs, uncover problem areas, uncover better opportunities, and support all major leadership processes in your organization. You can ensure the performance of your public relations efforts and track client objections to stay ahead of the curve and limit losses.

The report provides information on the following pointers:

Market penetration: Comprehensive information on the product portfolios of the major players in the Loan Digitization market.

Product development / innovation: Detailed information on upcoming technologies, R&D activities and product launches in the market.

Competitive assessment: In-depth assessment of market strategies, geographic and business segments of key market players.

Market development: Comprehensive information on emerging markets. This report analyzes the market for various segments across geographies.

Market diversification: Comprehensive information about new products, untapped geographies, recent developments, and investments in the Loan Digitization market.

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The cost analysis of global loan digitization market has been carried out keeping in mind the manufacturing expenses, cost of labor and raw materials along with their market concentration rate, suppliers and price trends. Other factors such as supply chain, downstream buyers, and sourcing strategy were assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a market positioning study taking into account factors such as target customer, branding, and pricing strategy.

Reasons to buy this report:

  • It offers an analysis of the evolution of the competitive scenario.
  • To make informed decisions in companies, it offers analytical data with strategic planning methodologies.
  • It offers a seven-year assessment of digitization in the lending market.
  • It helps to understand the main key product segments.
  • Researchers shed light on market dynamics such as drivers, restraints, trends and opportunities.
  • It offers regional analysis of digitization in the loan market as well as business profiles of several stakeholders.
  • It offers massive data on the trending factors that will influence the progress of the digitization of the loan market.


Global Loan Digitization Market Research Report 2021

Chapter 1 Market Overview of Digitization in Lending Industry

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Analysis of Manufacturing Costs

Chapter 9 Industry Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors / Traders

Chapter 11 Analysis of Market Effect Factors

Chapter 12 The Global Digitization Of Loan Market Forecast

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the A2Z Market Research The library provides market research syndication reports from around the world. Syndication ready to buy Market research will help you find the most relevant business intelligence.

Our research analyst provides business information and market research reports for large and small businesses.

The company helps its clients to formulate trade policies and develop in this market area. A2Z Market Research is not only interested in industry reports dealing with telecommunications, healthcare, pharmaceuticals, financial services, energy, technology, real estate, logistics, F&B, media, etc., but also your company data, country profiles, trends, news. and analysis on the sector that interests you.

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+1 775 237 4147 ]]> 0 Loan Services Market Segmentation, Analysis by Recent Trends, Development by Region to 2025 Wed, 07 Apr 2021 23:15:47 +0000 features the latest report on the Global Loan Services Market, which assesses industry growth trends through historical study and estimates future prospects based on in-depth research. The report provides in detail the market share, growth, trends and forecast for the period 2019-2024.

The Loan Services Market report presents information on the major growth drivers, potential challenges, and key opportunities shaping the expansion of the industry during the period of analysis.

Request a sample loan services market report at:

According to the study, the industry is expected to experience a CAGR of XX% during the forecast period (2020-2025) and is expected to achieve significant returns by the end of the study period.

The COVID-19 outbreak has caused ups and downs in industries, introducing uncertainty to the business sector. In addition to the immediate short-term impact of the pandemic, some industries are believed to face long-term challenges.

Most companies in various industries are taking steps to deal with the uncertainty and have revised their budgets to write a roadmap for realizing profits in the years to come. The report helps companies operating in this particular business vertical to prepare a solid contingency plan taking into consideration all the notable aspects.

Key Inclusions of the Loan Services Market report:

  • Effects of COVID-19 on Growth Figures.
  • Statistical analysis regarding the market size, sales volume, and overall revenue of the industry.
  • Organized mentions of the main market trends.
  • Growth opportunities.
  • Figures showing the growth rate of the market.
  • Advantages and disadvantages of direct and indirect sales channels.
  • Information on traders, distributors and resellers in the industry.

Request Discount on Loan Services Market Report at:

Loan Services Market Segments Covered In The Report:

Regional segmentation: North America, Europe, Asia-Pacific, South America, Middle East and Africa

  • Market research based on the main regions and countries.
  • Sales generated, returns accrued and share of industry represented by each region.
  • Regional revenue estimates and growth rate forecasts over the forecast period.

Types of products: Conventional Loans, Compliant Loans, FHA Loans, Private Money Loans, and Hard Money Loans

  • Predictions regarding market share based on sales figures and revenue generated by each product segment.
  • The price models for each type of product are mentioned.

Application spectrum: Owner, local bank and company

  • Revenue generated and sales volume generated by each application segment throughout the forecast period.
  • Pricing based on the scope of application of each type of product.

Competitive outlook: The main players covered by the loan service are:, FICS, Nortridge Software, Fiserv, Mortgage Builder and Shaw Systems Associates

  • The basic information, manufacturing facilities and competitors of each company are discussed.
  • The fundamental knowledge, manufacturing units and competitors of each organization are mentioned in the report.
  • Products and services offered by market players.
  • The figures showing the revenue, price, gross margins, sales and market share of each participant are mentioned.
  • SWOT analysis of each candidate.
  • Information relating to rate to market, marketing strategies, rate of market concentration and other business-related factors.

For more details on this report:

Some of the main strengths of the table of contents covers:

Chapter 1: Methodology and Scope

Definition and forecast parameters

Forecast methodology and parameters

Information source

Chapter 2: Executive Summary

Trade trends

Regional trends

Product trends

End-use trends

Chapter 3: Loan Services Industry Overview

Industry segmentation

Industry landscape

Supplier matrix

Technological and innovation landscape

Chapter 4: Loan Services Market, By Region

Chapter 5: Company Profile

Company overview

Financial datas

Product landscape

Strategic perspectives

SWOT analysis

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Overview of Corporate Bankruptcy: How Subchapter V, the CARES Act, and the Consolidated Appropriations Act Expanded the Remedies for Businesses and Business Owners in Bankruptcy | Bradley Arant Boult Cummings LLP Wed, 07 Apr 2021 23:15:47 +0000

In February 2020, just before the COVID-19 outbreak, the Small Business Reorganization Act 2019 (Subchapter V) came into force.[1] Subchapter V amends Chapter 11 of the Bankruptcy Code to allow certain individuals and businesses with debts of less than $ 2,725,625 to file a simplified chapter 11 case in order to make small business bankruptcies more fast and cheaper.[2]

Subchapter V includes some unique provisions of Chapter 11, such as: (i) the appointment of a permanent trustee; (ii) only allow a debtor to propose a reorganization plan, which must be filed within 90 days of the date of the request; (iii) except by order of the court, no committee of unsecured creditors; (iv) the elimination of the rule requiring that a new value be given in order for the debtor’s shareholders to retain their stake without paying the creditors in full; and (v) authorize the modification of certain residential mortgage loans if the underlying loan was not used to purchase the residence and was primarily used in connection with the business.[3]

Very soon after, in response to the COVID-19 epidemic, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was promulgated on March 27, 2020, which notably changed the definition of “debtor” for the Subchapter V aims to increase the debt limit from $ 2,725,625 to $ 7.5 million.[4]

In the wake of these new laws, creative individual debtors have filed a Subchapter V application to restructure personal guarantees for expired commercial debts. In addition to the debt limit of $ 7.5 million, to qualify as a debtor under Subchapter V, at least 50% of the debt must arise from the business or commercial activities of the debtor.[5] Within these parameters, bankruptcy courts recently found that people whose debts account for at least 50% of commercial debts, such as individual guarantees, qualify to be small business debtors under subchapter V. .[6]

For example, the Louisiana Eastern District Bankruptcy Court ruled that individual debtors’ guarantees on business loans constituted commercial debt so that the debtors could be small business debtors under subchapter V. .[7] The court found that, since the majority of debtors ‘debts arose from the operation of the debtors’ currently operating businesses, as well as their now defunct businesses, and were for an amount below statutory debt limits. of subchapter V, debtors qualified under subchapter V.[8]

As a result of the CARES Act, businesses received additional relief from COVID-19 with the enactment of the Consolidated Appropriations Act, 2021 (CAA) on December 27, 2020, which includes multiple Bankruptcy Code amendments designed to help businesses.[9]

Before the enactment of the CAA, the Small Business Administration (SBA), which administers the Paycheck Protection Program (PPP), opposed PPP loans for debtors and enacted rules prohibiting small businesses from failing. to access PPP loans.[10] In response, CAA now expressly allows Chapter 11 Subchapter V debtors (as well as Chapter 12 and 13 debtors) to apply for a PPP loan.[11]. However, frustrating for large companies, debtors in traditional Chapter 11 cases were not included and, therefore, would likely continue to be denied PPP loans in bankruptcy.[12]

Another benefit for subchapter V debtors is the CAA’s amendment to Section 365 (d) of the Bankruptcy Code, which allows the court to extend the debtor’s execution period under a unexpired lease of a non-residential property up to 120 days from the date of the petition if: the debtor is living or has experienced difficulties due to COVID-19.[13]

The CAA also amends section 365 (d) (4) (A) of the Bankruptcy Code – to all debtors and not just subchapter V – to extend a debtor-tenant’s time to take over or reject a non-residential real estate lease for an additional 90 days up to a total of 210 days after the date of the petition .[14] Section 365 (d) (4) (B) (i) of the Bankruptcy Code already allows the court to extend the time limit for assuming or rejecting a lease, for cause, by an additional 90 days. Therefore, a debtor could have up to 300 days to decide whether to assume or reject an unexpired commercial lease without the consent of the landlord.

In addition, the CAA aims to encourage owners and sellers to offer flexible payment terms to debtors by amending the preference provisions of Section 547 to provide that any “payment covered by rental arrears” or “supplier arrears” cutlery ”cannot be avoided as preferences.[15] To benefit from the exemption, the debtor and the counterparty must have entered into a lease or a contract before the date of the request, the lease or the contract must have been modified on March 13, 2020 or after this date, and this modification must have deferred or postponed. payments due under the lease or contract.[16]

Subchapter V, the CARES Act and the CAA provide multiple new possibilities for certain businesses and individuals to restructure their debts in a Chapter 11 matter. The CARES Act will currently expire on March 26, 2021, but new bipartite legislation has been introduced. was recently introduced to extend the CARES Act Subchapter V debt limitation increase until March 27, 2022.[17] The CAA provisions discussed in this article are all expected to expire on December 27, 2022.[18]


[1] See Pub. L. n ° 116-54 (2019).

[2] See 11 USC § 101 (51D).

[3] See 11 USC §§ 1181–1195.

[4] See Pub. L. No. 116-136 (2020).

[5] See 11 USC § 1182 (1) (A).

[6] See for example In re Wright, 2020 WL 2193240, at * 3 (Bankr. DSC April 27, 2020) (individual debtor with 56% of the debt from defunct companies classified as small business debtor in subchapter V).

[7] See In re Blanchard, 2020 WL 4032411, at * 3 (Bankr. ED La. July 16, 2020).

[8] Username. at 2 hours.

[9] See Pub. L. No. 116-260 (2020).

[10] See 85 Fed. Reg. 23,450, 23,451 (April 28, 2020).

[11] See Pub. L. No. 116-260 (2020).

[12] Username.

[13] Username.

[14] Username.

[15] Identifier.

[16] See Pub. L. No. 116-136 (2020).

[17] See Grassley and Durbin Introduce Biparty Legislation to Extend the Relief Provisions of the CARES Act (

[18] See Pub. L. No. 116-260 (2020).

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Bankruptcy Small Business PPP Loans and Debtors – Finance and Banking Wed, 07 Apr 2021 23:15:47 +0000

United States: PPP loans and debtors of bankrupt small businesses

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After the implementation of the Paycheck Protection Program (the “PPP”) in the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), enacted on March 27, 2020, bankrupt debtors requested PPP loans. The Small Business Administration (the “SBA”) has opposed PPP loans for debtors, and courts have been divided over whether the SBA can prevent debtors from benefiting and receiving PPP loans. Next, Congress passed the Consolidated Appropriations Act, 2021 (Act) (Pub. L. No. 116-260), which was enacted on December 27, 2020 (the “CAA”). CAA amends the United States Bankruptcy Code to allow PPP loans to certain debtors, namely Small Business Debtors of Subchapter V, Chapter 12: Family Farmers, Debtors and Self-Employed, Chapter 13, Debtors. However, there was a problem. The CAA further anticipates that PPP loans will only be available if the SBA administrator, at its discretion, sends a letter to the director of the executive office for United States Trustee acquiescing to PPP loans in bankruptcy. To date, the SBA has not acquiesced.

On March 3, 2021, the SBA published guidance in its FAQ regarding borrowers who have received PPP loans under the Cares Act and who subsequently become debtors in a bankruptcy case.

If a borrower who was eligible for a first-draw PPP loan requests bankruptcy protection after the disbursement of the first-draw PPP loan, that borrower is eligible for the loan forgiveness, provided they meet all the conditions for the forgiveness. loan set out in the Interim Final PPP Rules, including, but not limited to, loan proceeds are used only for eligible expenses and at least 60% of loan proceeds are used for eligible labor costs. “

FAQ # 59. This is in line with what debtors in applicable bankruptcy cases have done – request cancellation of their loan. The SBA further discussed whether a borrower who was eligible for a first-draw PPP loan and who applied for bankruptcy protection after the disbursement of the first-draw PPP loan was eligible to apply for a second-draw PPP loan. draw. According to FAQ n ° 60:

No. Each applicant for a second-draw PPP loan must certify on the second-draw borrower application form (SBA form 2483-SD) that the applicant and any owner of 20% or more of the applicant are not currently involved in a bankruptcy proceedings. Thus, a borrower who has received a first-draw PPP loan and requests bankruptcy protection after the disbursement of the first-draw PPP loan is not eligible to apply for a second-draw PPP loan.

This does not resolve the situation where the Second Drawing Borrower has since exited bankruptcy and “is therefore not currently involved in bankruptcy proceedings”. Small businesses that have confirmed their bankruptcy plan and are looking to receive a second draw should be able to apply as long as the first draw PPP loan can be forgiven and the SBA does not suffer a loss. The application for a second draw loan asks, in part, whether the SBA has suffered a loss rather than whether a default has occurred. Failure to pay the loan by filing for bankruptcy does not necessarily mean that there has been a loss suffered by the SBA.

Meanwhile, Chapter 11 debtors still have no way of receiving PPP loans during bankruptcy proceedings.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought on your particular situation.

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