COVID-19 Business Counseling

In response to COVID-19 and its impact on the U.S. economy, there are many important business decisions that businesses need to make. In addition to the financial assistance available through government programs, there are other ways that companies can protect their business relationships, assets, and contractual options.  This requires having an action plan for how to handle COVID-related issues with customers, vendors, contractors, employees, landlords, or tenants.  As businesses of all sizes navigate these uncertain and straining times, it is crucial for your company to proactively consider strategies to weather the COVID-19 storm and emerge on solid ground.

IF YOU NEED ASSISTANCE WITH STRATEGIC BUSINESS PLANNING AND EVALUATING YOUR BUSINESS’S CONTRACTUAL RIGHTS AND OBLIGATIONS, WE CAN HELP WITH THE FOLLOWING:

Contract Review, Analysis, and Negotiation

  • Review of lease obligations and negotiation of terms relating to rent payment, operating hours covenants, lease extensions, lease deadlines, or force majeure clauses.
  • Review and negotiation of vendor and supply agreements for both client business operations and client obligations to its customers, clients, tenants, and others.

Transactional Planning

  • Drafting and negotiation of transactional documents such as asset and stock purchase agreements, property purchase and sale agreements, amendments, assignments, and closing documents.

Strategic Management Consulting

  • Consulting and advising small business owners, non-profit boards, management teams, and executives regarding 30–60-90 day plans to keep remote workforce engaged, develop creative short-term strategic plans, and maintain company culture and positivity during these challenging times.

Employment-Related Services

  • Consulting and advising regarding employee issues, paid leave issues under new legislation.

Business Workout & Restructuring Planning

  • Preliminary assessment of options for workout and restructuring of client business when disaster relief programs are not adequate. Goal of this plan is to avoid bankruptcy and survive the long-term impact of COVID-19.

Wind Down & Dissolution Plan

  • An initial assessment and review of a business’s debts by bankruptcy counsel to develop a plan for bankruptcy if the COVID-19 pandemic and its impact on the economy push a company into these planning steps.

IF YOU NEED ASSISTANCE SEEKING FINANCIAL RELIEF, WE CAN HELP WITH THE FOLLOWING TYPES OF FEDERAL, STATE, AND MUNICIPAL APPLICATIONS:

  • Paycheck Protection Program provides financial incentives to employers to keep their employees on the payroll.
  • The COVID-19 Economic Injury Disaster Loan Program provides additional financial assistance to small businesses through the U.S. Small Business Administration.
  • Economic Injury Disaster Loan Advance of up to $10,000 is available within days of completing an application with the SBA and may not need to be repaid.
  • Minnesota Small Business Emergency Loan is an interest free, partially forgivable loan available to Minnesota small businesses.
  • Minnesota Small Business Loan Guarantee Program provides support to small business loans that are expected to be made to Minnesota businesses by a Qualified Economic Development Lender.
  • Minneapolis Forgivable No-Interest Loans for Small Business will come in fixed amounts of $5,000 or $10,000, depending on need resulting from the COVID-19 emergency.
  • Minneapolis Revamped 2% Loan Program to 0% a modification of the Minneapolis’ existing 2% Participation Loan program for small businesses.
  • St. Paul Bridge Fund for Small Businesses provides $7,500 grants to St. Paul small businesses for immediate business expenses.

As a small business our self, we understand the financial stress and uncertainty caused by the COVID-19 pandemic. To help our clients budget with certainty and value, we have always offered alternative fee arrangements for our services and we continue to stand by such alternatives to best serve our clients.

In the blink of an eye, we are all suddenly living in unprecedented times. We are all in this together.  Please let us know if we can help you in any of the above ways by contacting any of Sapientia’s following COVID-19 Business Counseling attorneys for more information:

Nick Leonard

Towle Neu

Demetria Dyer