Apr 16, 2020
In the latest episode of GWP’s Constructing Brands podcast, we discuss how to approach the CARES Act with Stephen Katz. Stephen is a Partner and Chair of the Corporate Law practice at Peckar & Abramson, P.C. with over 25 years of experience in Corporate Law. In this episode, Stephen is sharing his expertise and support for businesses trying to navigate through the CARES act with very timely advice and information. Stephen will discuss the importance of understanding the CARES Act, teaming up your accountant, submitting your application, loan forgiveness, and staying up to date with the constantly changing policies.
What Do I Need To Know?
As a business leader responsible for making smart decisions, you have many questions: Do I qualify for loan forgiveness? What do I need to be cautious of with The CARES Act? Stephen guides us through the questions to ask to feel confident that your business is getting the assistance it needs. The CARES Act is a loan administered through the SBA, designed to help you keep your employees working. There are certain aspects of the Act that you must be aware of in order to avoid pitfalls. Stephen walks us through the ins and outs of the policy and what a business owner needs to be aware of to protect themselves, their employees, and their business.
What Resources Do I Have?
As a business leader, this may be the first time you are going through a scenario like this, and we hope it is the last. It is difficult to know where to turn for answers and who can help you navigate the application process and policies. Stephen shares his team approach to success and how important it is for both legal and financial experts to join together.
It Is Important To Apply Now
Determining the right time to apply for assistance through The CARES Act is critical. You may need to consider layoffs, reducing staff, and other measures to keep your business running. Should you wait until then to apply? Stephen answers this question that many manufacturers are asking. It is crucial that you apply for your loan as soon as possible. Stephen sheds more light on the importance of applying, when to apply, and why it is in your best interest to do so now.
About Stephen Katz
Stephen Katz graduated from Fordham University School of Law in 1992 and began his career as an Associate with Kramer Levin Naftalis & Frankel. Stephen then transitioned to his current role as Partner and Chair of the Corporate Law practice at Peckar & Abramson. Stephen has over 25 collective years of experience practicing as a corporate transactional attorney with extensive experience in all areas of corporate law, including mergers and acquisitions, securities, corporate formation, and transaction matters.
What You Will Learn:
- Defining The CARES Act and how it can help your company.
- What resources do you have for help and council?
- What do you need to be cautious of with the Act?
- What you need to know about loan forgiveness eligibility.
- The importance of applying as soon as possible.
Resources:
- SBA Guide to the CARES Act: SBA Guide to the CARES: https://www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act/
- U.S. Department of Treasury https://home.treasury.gov/policy-issues/cares/
- LinkedIn: https://www.linkedin.com/in/stephen-katz-88212013/