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Co-op Memo: PPP Eligibility

A number of our clients have asked us to analyze whether Housing co-ops are eligible for the Paycheck Protection Program (“PPP”).1 On April 2, the Small Business Administration (“SBA”) issued its Interim Final Rule (“IFR”), meant to give guidance as to the implementation of the PPP.  The IFR describes which businesses are ineligible for the PPP. The IFR states that ineligible businesses are identified in the Code Read More

Financial Assistance Options for Small Businesses in New York Being Affected by Covid-19

We know that this is a scary time and that a lot of you have businesses that are being affected by the Covid-19 shutdowns. While this is a rapidly developing situation, we want to provide you with the most up to date information on the resources that are currently available. We will keep you posted as we continue to gather more information. Small Business Administration Federal Disaster Loans The Federal Small Read More

Commercial Leasing and Covid-19

Over the last week, we have spoken with landlords, tenants, and brokers about the prevailing question in the industry: is rent due and payable for those “non-essential” businesses forced to close up shop by the "New York State on Pause" order? And what about for businesses deemed “essential,” but effectively run out of business by the virus’ far-reaching impact? These questions, and others like them, are bound to Read More

Brief Overview of the Paycheck Protection Program

Below is a brief overview of the Paycheck Protection Program to answer some of your most immediate concerns. Who is eligible? A small business with fewer than 500 employees (the 500-employee threshold includes full-time, part-time, and independent contractors); A 501(c)(3) with fewer than 500 employees; An individual who operates as a sole proprietor; An individual who operates as an independent Read More

Covid-19 and Your Contracts

We have been receiving numerous questions from service providers and business owners who are rightfully concerned about their contractual obligations during these difficult times. While every situation is different, and we encourage you to carefully review the language in your contracts, we want to share some information on two legal doctrines that are particularly relevant at this time. Force Majeure If you have a Read More

How to Start Your Business in New York

According to the U.S. Small Business Administration, the state of New York is home to 2.1 million small businesses, and this number is growing every day. Are you interested in getting in on the fun? Opening a small business is a great path to the independence, lifestyle, and financial gain you want. If you’ve been considering going this route, read on to learn more about the process of turning your small business Read More

Four Critical Clauses to Include in Your Home Improvement Contract

Whether you’re making improvements to the home you share with your family or to a fixer-upper you purchased to rent out for extra income, starting a new home improvement project is always exciting. Homeowners often hire contractors to carry out big renovations for them.  These renovations, particularly in New York City and the surrounding counties are extremely expensive. Despite this, most people don’t invest the Read More

A Resilient Reunion, the Next Gen, and Justice in the Criminal Justice System

September Partners' Picks Looking for something worthwhile to read the next time your subway is delayed? Here are some recommendations from the partners at BFK Law. Lee Bergstein It is Fall so let's turn to the small screen. As a big Eternal Sunshine of the Spotless Mind fan, it should come as no surprise that I thoroughly enjoyed the pilot episode of director Michael Gondry and Jim Carrey's reunion Read More

Meet a Client — Suited

Here at BFK one of our favorite parts of the job is having the opportunity to work with founders and small business owners. We also love being able to share the exciting work that they're doing with our friends. In this week's letter we want to introduce you to Suited Magazine, an incredibly impressive fashion and art publication, whose seventh issue will be coming in the next few weeks. Check them out here and Read More

Data, Tweets, and Thieves

Lee Bergstein  The Unlikely Advocates Who Took on Silicon Valley–and Won. (Nicholas Confessore, The New York Times): “It’s like selling you coffee and making it your job to decide if the coffee has lead in it.” This is the model by which Silicon Valley (most notably Facebook and Google) has been using to collect your data. This article tells the story of Alastair Mactaggart, a real estate developer, who is Read More