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SBM Business Law Section eNewsletter

November 2008

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News

Chair's Letter from Diane L. Akers
You can still register for a great program being sponsored by the Section's Small Business Forum called "It's Your Government and We're Here to Help—Really!" This timely seminar will focus on assistance available to small and mid-sized businesses from Michigan governmental and quasi-governmental agencies, including financial assistance, tax incentives, business connections (financing sources, trade missions) and expertise (developing business plans and counseling/troubleshooting). It will take place November 6, Columbia Center, Troy.

Debtor/Creditor Rights Committee Host Panel Discussion
Do you want to know more about Section 509(b)(9) and reclamation claims? If so, please attend the November 18, meeting of the Debtor/Creditor Rights Committee, which will include a panel discussion on Section 509(b)(9) and reclamation claims led by John Gregg, Judy Miller, and Ronald Rose.

Small Businesses Suffer from Credit Crisis
Many members have been asked, often by their smaller business clients, about the impact of the credit crisis on small businesses. On October 29, the Coleman Report prepared for SBA lenders reported that the secondary market for SBA loans is in "lockdown status." The Report states that as a consequence, smaller lenders will be able to consider loans for only the very strongest of loan applicants. Larger lenders that may be less likely to sell their SBA loans may not impose as stringent restrictions. At the same time, the Report discloses the continuing decline in loans made through the 7(a) and 504 loan programs. This data will help you realistically respond to those clients wondering about the reasons for a rejection of a loan application: it's more than just the specifics of the loan application.

 

Section Events

  • November 6—Small Business Forum Event—It's Your Government, and We're Here to Help—Really! (Columbia Center, Troy)

  • November 18—Debtor/Creditor Rights Committee Meeting (Jaffee, Raitt, Southfield)

  • December 6—Section Council Meeting (Southfield)

  • ICLE's 2009 LLC & Business Entity Update—February 5 in Grand Rapids and February 20 in Plymouth

  • May 8–9—21st Annual Business Law Institute (Grand Rapids)

Other Events

  • December 9—ICLE Advising the Small Employer on Discipline and Discharge of Employees (Ann Arbor)

  • February 7–14—Family Law Section Winter Seminar (Mexico)

  • March 10—ICLE Understanding Financial Statements (Ann Arbor)

  • May 20—ICLE Environmental Issues for Business Lawyers (Ann Arbor)