New Bankruptcy Law Could Save Your Small Business: Here's What You Need to Know

Are you a small business owner who is in trouble due to the shifting tides of the pandemic? If so, we want to make sure you know all of your options, like bankruptcy.

This February, before the economic decline, Congress enacted the Small Business Reorganization Act (SBRA). The SBRA, commonly referred to as Subchapter V, was put in place to encourage small businesses to use Chapter 11 more frequently by making the process much more streamlined and favorable for business owners.

Listen in as we chat with expert James Sivco at Molten Layer, covering everything you need to know about the new bankruptcy law. He answers some important questions that you may have like why is this a more favorable option for business owners during the COVID-19 era, when would this start to affect an owner's personal credit or assets, and how can a business owner know that it's time to start these procedures.

As always, MGA is here to bring new insights that may help you in this new world and provide resources to assist in all aspects of your business.

We are here to make the complex simple.

Disclaimer: Neither MGA nor Molten Layer is a law firm. Please seek legal advice prior to implementing any strategies.

Recent Blogs

life insurance review 996 x 720

Protect Your Future: When Was Your Last Life Insurance Review?

Read More

 
 
 
business meal deductions 996 x 720

Support Your Local Restaurants — Business Meals Are Temporarily 100% Deductible!

Read More

 
form 1099-nec 996 x 720

Everything You Need to Know about the New IRS 1099-NEC Form

Read More