How the Small Business Reorganization Act can help business that find themselves in a hole

Now that the economy is starting to re-open, many businesses that were closed or working under restrictions will find themselves in a financial hole. They may be behind on the rent, behind on loan payments, behind on taxes, or behind with their suppliers. However, the Small Business Reorganization Act can help. We spoke with David Giddens over at Giddens & Gatton Law, P.C. to find out how.

If businesses are not able to re-open at full capacity, reduced revenue may make the financial hole bigger before full operations are restored. In the CARES Act, Congress increased the availability of the Small Business Reorganization Act to all businesses with total debt of less than $7,500,000.

Giddens & Gatton Law, P.C. began in 1997 as a solo practice with an emphasis on bankruptcy. Their firm offers comprehensive legal services to clients throughout New Mexico and the Southwest in bankruptcy, bank collections, business law, litigation, construction law, foreclosures, and commercial real estate transactions. To protect your safety in response to the threats of COVD-19, Giddens & Gatton Law is offering their clients phone interviews or video conferencing. You can call their office at (505) 273-3720 to discuss your options.

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