Small Businesses and the End of the Eviction Moratoriums - Ronald D. Weiss, P.C.
Small Businesses and the End of the Eviction Moratoriums If your business was behind in its mortgage or lease due to the pandemic, the end of various eviction moratoriums could mean you should talk to a bankruptcy lawyer about Chapter 11. The End of the Eviction Moratoriums While the media tended to concentrate how the various eviction moratoriums affected the residential landscape, these moratoriums also affected commercial real estate. Any brick-and-mortar businesses that survived on foot traffic (small retailers, restaurants, etc…) suddenly found themselves in trouble. Income stopped, while expenses - including lease and mortgage payments - did not. While the PPP and other SBA loans helped, it was the state and federal eviction moratoriums that assisted businesses behind on their commercial lease or mortgage payments to stay in business and try to catch up. Those moratoriums are now over. Signs Your Business May Be In Trouble There are certain signs...