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SBA's Guidance on Requests to Honor SBA's Guaranty of PPP Loan

USA - July 21 2021 The SBA recently issued its Procedural Notice on when a lender may request the SBA to honor its guaranty of a PPP loan. The PPP loan program has been…

Thomas G. Appleman

Commitment Fees Might Constitute Interest Under Michigan Law

USA - June 16 2021 Lenders often include fees in loan transactions in addition to an interest rate. Typically such fees are not considered interest, as they compensate…

Eric S. Bergeron

Michigan Court of Appeals Holds That Development Agreement Obligations are Extinguished in Tax Foreclosure

USA - May 5 2021 The Michigan Court of Appeals recently held that assessments on a property under a development agreement between a city and the property's former…

Scott R. Lesser, Gregory A. Nowak

The Impact of the Bankruptcy Relief Act and Other Recent Bankruptcy Code Changes

USA - April 2 2021 Bankruptcy law has seen many changes in 2020 and 2021. Some of these were enacted in response to COVID, but many other changes were included in the…

Ronald Spinner, Marc N. Swanson

Congress Permits SBA to Make PPP Loans to Debtors in Bankruptcy, SBA Says "No"

USA - January 15 2021 In June and December of 2020, Miller Canfield reported that the Fifth and Eleventh Circuits had held that the Small Business Administration ("SBA")…

Thomas G. Appleman, Ronald Spinner