COVID-19 Legal Issues for Business

I have been fielding questions and assisting clients with several issues regarding COVID-19 business shut downs. You may have already considered much of what follows, but a few things:

1. If you have not done so already, and it is necessary, be sure to contact your commercial and residential mortgage lenders to request a forbearance. For example: https://www.npr.org/2020/03/19/818343720/homeowners-hurt-financially-by-the-coronavirus-may-get-a-mortgage-break

2. Contact your credit card companies and auto finance companies and request payment extensions. I am finding that many of clients commercial and personal accounts are offering up to 120 days.

3. Commercial leases should be reviewed for force majeure provisions which may be enforced.

4. Review business insurance policies which may protect you from loss of sales.

5. If necessary, file for disaster loan assistance from the SBA.

The above list is not exhaustive, but it's a start! Let me know if you have any questions, or need assistance in any of the above.