Business

Differences Between Express vs. Implied Warranties

It’s possible that when you were in school, history was not necessarily your favorite subject. But to understand express versus implied warranties, a brief history lesson is in order. Before delving in, however, you’ll be happy to know that Hammerle Finley has practiced business law since 1984. We have an extensive online library for your reference purposes, as well as a staff of highly qualified and experienced business law attorneys. The Uniform Law Commission and the Uniform Commercial Code In 1892, as the American economy grew...

How To Get Your PPP Loan Forgiven In Texas

Many businesses took advantage of the Paycheck Protection Program Flexibility Act created by Congress to combat the economic damage wrought by the COVID-19 pandemic. The PPP loans issued under this act were designed to help businesses continue to pay their employees and pay certain utility expenses. Now that you have the funds, do you have to pay them back?  Surprisingly, you may not have to pay portions of the funds...

Amateur Hour – Loans to Family Members Can Be Complicated

During the Years of Plenty, when you could simply throw money into the air and have it return three-fold, intra-family loans were a rarity.   Ah, but that was before the dawning of the year of Coronavirus.  Nowadays family loans are depressingly common, often being the only buffer between economic survival and pandemic- inspired bankruptcy.    If you find yourself lending money to a family member, there are some points to keep in...

Top Ways Your Business Can Prepare for the New SBA Loan

As the extent of the COVID-19 pandemic and its threat to the American economy became increasingly apparent, Congress passed the Coronavirus, Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. The original law created a relief package of over $2 trillion with the purpose to provide fast and direct economic assistance to American workers, families and small businesses while preserving jobs for American businesses and industries. For small...

Update on Covid-19 Actions In Texas

Thanks to Texas State Senator Jane Nelson for the following important information: Governor Abbott issued a new series of COVID-19 executive orders this week, closing schools through May 3rd and continuing social distancing policies through April 30. Essential businesses such as grocery stores and health care providers will remain open, and the public is asked to help slow the spread of coronavirus by staying home except for essential activities and services. Medical...

Top 7 Coronavirus Small Business Loan Programs

Today governmental shelter-in-place directives and individual self-quarantine actions are stifling business activity throughout Texas. While temporary, the impact of these measures is especially devastating to businesses dependent on a stable monthly revenue.  Many are unable to meet payroll or make this month’s rent.  Businesses are resorting to laying off employees and not paying their bills. These are not your only options.  There are a number of options to consider...

What is Asset Based Lending in Real Estate?

A Definition of Asset Based Lending Asset based lending in real estate finance, also referred to as equity based lending, involves extending a loan that is secured by real estate assets. These assets can include commercial, residential and industrial properties, as well as land. For asset based mortgage lenders, the main criteria for loan approval is the value of the real estate, as well as the amount of the down...

Asset Purchase vs Stock Purchase – What’s the better transaction?

How to distinguish the difference between an asset purchase and a stock purchase It’s exciting to buy or sell a business.  It’s a time full of many considerations and many questions.  The most fundamental question is whether to structure the transaction as an asset purchase or as a stock purchase.  The answer you pick will have many implications.  Consider the following. Why is an asset purchase good? Buyers tend to prefer asset...

2020 Asset Purchase vs Stock Purchase – Pros & Cons

Things that Distinguish an Asset Purchase from a Stock Purchase Transaction It’s exciting to buy or sell a business. It’s a time full of many considerations and many questions.  The most fundamental question is whether to structure the transaction as an asset purchase or as a stock purchase.  The answer you pick will have many implications.  Consider the following. What Are The Pros Of Asset Purchases? Buyers tend to prefer asset purchases...
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