Factoring | Loren & Kean

NEW SMALL BUSINESS ASSOCIATION RULES RELEASED: FACTORING AND MCA DEBT CANNOT BE REFINANCED

By Allen J. Heffner | May 2, 2025

The U.S. Small Business Administration (SBA) has released a significant update that will directly affect small business financing strategies moving forward. As of June 1, 2025, the SBA no longer permits the refinancing of Merchant Cash Advance (MCA) or factoring debt through its loan programs, including 7(a) and 504 loans. In the past, SBA loans … NEW SMALL BUSINESS ASSOCIATION RULES RELEASED: FACTORING AND MCA DEBT CANNOT BE REFINANCED

FEDERAL APPELLATE COURT REINSTATES REQUIREMENT FOR COMPANIES TO FILE BENEFICIAL OWNERSHIP INFORMATION (BOI) WITH FINCEN AS REQUIRED BY THE CORPORATE TRANSPARENCY ACT (CTA)

By Frank Sardinha, III | Jan 7, 2025

As a follow-up to our previous week’s post, on December 23, 2024, a federal Court of Appeals reinstated the reporting requirement for companies to file BOI reports with FinCEN. The reporting deadlines are as follows: Companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to submit their initial … FEDERAL APPELLATE COURT REINSTATES REQUIREMENT FOR COMPANIES TO FILE BENEFICIAL OWNERSHIP INFORMATION (BOI) WITH FINCEN AS REQUIRED BY THE CORPORATE TRANSPARENCY ACT (CTA)

FEDERAL COURT BLOCKS REQUIREMENT FOR COMPANIES TO FILE BENEFICIAL OWNERSHIP INFORMATION (BOI) WITH FINCEN AS REQUIRED BY THE CORPORATE TRANSPARENCY ACT (CTA)

By Frank Sardinha, III | Dec 20, 2024

On Tuesday, December 3, 2024, a federal court in Texas issued an order that: (1) enjoins the CTA, including enforcement of that statute and regulations implementing its beneficial ownership information reporting requirements, and, specifically; and (2) stays all deadlines to comply with the CTA’s reporting requirements. Prior to the order, the CTA required companies to file a … FEDERAL COURT BLOCKS REQUIREMENT FOR COMPANIES TO FILE BENEFICIAL OWNERSHIP INFORMATION (BOI) WITH FINCEN AS REQUIRED BY THE CORPORATE TRANSPARENCY ACT (CTA)

ANTI-ASSIGNMENT PROVISIONS: ARE THEY ENFORCEABLE AND WHAT TO DO IF YOUR CLIENT’S CONTRACT CONTAINS ONE

By Allen J. Heffner | Apr 23, 2024

While many Account Debtors recognize the value of services provided by Factors and will gladly comply with Notices of Assignment in exchange for smooth transactions with the Client, some Account Debtors have negative views of Factors and have included language in their underlying contracts prohibiting the assignment of the Client’s receivables. Our clients have expressed … ANTI-ASSIGNMENT PROVISIONS: ARE THEY ENFORCEABLE AND WHAT TO DO IF YOUR CLIENT’S CONTRACT CONTAINS ONE

CONGRATULATIONS TO OUR NEW PARTNERS AND OF COUNSEL

By Michael I. Kean | Dec 8, 2023

Loren & Kean Law is proud and excited to announce that Allen Heffner and Kyle Ohlenschlaeger have become Partners and Frank Sardinha has become Of Counsel. Allen, Kyle and Frank are integral members of our firm who have been instrumental in the growth of the firm over the last 8½ years, and its continued and … CONGRATULATIONS TO OUR NEW PARTNERS AND OF COUNSEL

Understanding Force Majeure Clauses in Contracts

By Bruce E. Loren | Dec 4, 2023

Businesses deal with contracts on a daily basis—employment agreements, leases, construction agreements, purchase agreements, etc. However, even the most meticulously crafted agreements may encounter unforeseen circumstances that disrupt the normal course of business. In such instances, the force majeure clause becomes a vital component, providing a framework safety valve to address unexpected events that are … Understanding Force Majeure Clauses in Contracts

RECENT VICTORIES OF LOREN & KEAN LAW

By Bruce E. Loren | Nov 21, 2023

Loren & Kean Law secured resounding victories for their clients this past month. First, in an appellate case that centered around a tenant’s claim to possession of real property, Allen Heffner with Bruce Loren, successfully represented a landlord in an appeal by the tenant of the trial court’s order granting summary judgment of eviction. … RECENT VICTORIES OF LOREN & KEAN LAW

THE NOTICE OF ASSIGNMENT: A REFRESHER COURSE

By Allen J. Heffner | Nov 20, 2023

The Notice of Assignment is probably the single most important document for a Factor. Understanding what needs to be included in the Notice of Assignment, how to send it, and who to send it to can mean the difference between getting paid and not. Despite the fact that every Factor is (or should be) familiar … THE NOTICE OF ASSIGNMENT: A REFRESHER COURSE

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