Ferne Kornfeld’s Blog
Debt Restructuring in 2021
Taking on debt is a normal part of doing business. The trouble arises when unexpected events occur outside of a typical business lifecycle, such as a pandemic or a recession. The Federal Reserve survey estimates that approximately 70% of small businesses already had outstanding debt before COVID-19. Despite assistance being provided by the government, such as unemployment benefits, stimulus checks, and the ability to defer payments on mortgages and student loans, many businesses and individuals continue to struggle.
Tips for Preventing Debt from Getting Out of Control for Your Small Business
Debt is one of the scariest outcomes of opening up a small business. Small business owners take a substantial financial risk when opening their business, but they know achieving their dream is worth it. To avoid financial struggles and your business going into too...
Debt Restructuring Vs. Bankruptcy: What’s the Difference?
A once thriving business can easily take a turn for the worse when their finances aren’t in order. Even when a business is drowning in debt, there can still be a light at the end of the tunnel and there are steps they can take to stay afloat. Oftentimes, the word...
How the Pandemic Affects Debt Restructuring
The pandemic has had an unprecedented effect on everyone personally and especially financially. Businesses everywhere are struggling to keep their doors open. Many businesses that are struggling with debt aren’t able to make their payments and the threat of bankruptcy...
Tips for Bettering Your Business’s Financing
When times get tough for some businesses, they start to consider refinancing their debt. Most of the time, the reason is to cope with changes in the economy, alleviate a cash flow crunch, or even get additional working capital. Although it may seem like the best...
What is Debt Restructuring?
Debt can have a significant hindrance to your personal and professional life. Always wondering how you'll ever pay it off or if you can even afford the next payment is something no one ever wants to go through, especially with an entire company at risk. When a company...
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