The Small Business Reorganization Act & Your Manufacturing Company: webinar by Aprio

An Unintended Lifeline For Small Businesses Considering Restructuring Due to COVID-19

Tue, Oct 6, 2020 1:00 PM – 2:00 PM EDT

The Small Business Reorganization Act & Your Manufacturing Company – An Unintended Lifeline For Small Businesses Considering Restructuring Due to COVID-19 Financial & Legal Considerations for Manufacturers. During the webinar, we will discuss:

  • Why and how the Small Business Reorganization Act came to be and how it has been expanded in the wake of the COVID-19 pandemic.
  • How Subchapter V may be a lifeline for small businesses who would usually not be suited for traditional restructuring and an overview of the restructuring process.
  • Key differences between restructuring under Subchapter V and more-traditional options that make Subchapter V restructuring both cheaper and more efficient.
  • How forgiveness of debt may trigger taxable cancellation of debt income (CODI)
  • How tax attributes may become limited after a bankruptcy or reorganization

Expert Panelists:

Atlanta MBDA Business Center Launches CARES Act Assistance Program

ATLANTA– Since the onset of the COVID-19 pandemic, the Atlanta Minority Business Development Agency (MBDA) Centers have responded to hundreds of requests for assistance with funding, opportunities, and disaster recovery and resilience.

The staff fielded more than 500 calls on a variety of questions and concerns related to COVID-19, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the economy, and the future of the business community. Our finance specialists have helped dozens of companies secure CARES Act funding.

The Atlanta MBDA Business Center has been awarded funding from the CARES Act to provide unique assistance and programming while leveraging the expertise of the business programs in the Georgia Tech Enterprise Innovation Institute.  The MBDA Business Center CARES Act Assistance Program will provide training and technical assistance in health and safety and cybersecurity, compliance to the Paycheck Protection Program, funding identification, and pivoting strategies. 

“We are pleased to receive this additional funding from the MBDA through the CARES Act,” says Project Director Donna Ennis, C.P.F.  “It gives us the opportunity to focus on the specific needs of our small and minority business community during these challenging times.”

The Atlanta MBDA Centers will partner with various Georgia Tech programs and organizations including the Georgia Tech Safety, Health, and Environmental Services (SHES) group. These partnerships will grant MBEs easy access to free and discounted resources while ensuring the MBE community continues to survive and thrive. In addition, the MBDA Business Center CARES Act Assistance Program will conduct listening sessions and roundtables with small and minority-owned businesses to determine needs, challenges and solutions that will ensure our companies succeed post-COVID-19.

The CARES Act is a law intended to address the economic fallout of the COVID-19 pandemic in the United States. As a two trillion dollar relief package, the CARES Act provides various economic relief to communities, taxpayers, and businesses including direct payments to eligible taxpayers, expanded lending for businesses and local governments, expanded unemployment insurance and new loans and grants for small businesses.