In 2009, my firm is spending more and more time helping small businesses in the Pikes Peak region with their financial problems and the ongoing recession.  While many hope to put together new business ventures, I’m currently spending a good deal time helping my clients negotiate revised payment arrangements with lenders, restructuring loans and filing reorganization cases with the Bankruptcy Court.  As the recession continues, working directly with their business lenders will continue to be critical to many companies, even though negotiation of loan arrangements in this economic climate is proving to be difficult

In response to the mortgage foreclosure and credit crisis, perhaps this year we will see more institutions become receptive to privately-negotiated workout arrangements that they refused to consider before.

Even if bankruptcy become inevitable, however, in the past I have found that it is often possible for some small business owners to retain their businesses even though they are forced to go through a “fresh start” Chapter 7 case.  We may see more of this throughout 2009.

Also, Chapter 13 can be utilized for the benefit of certain small business owners.

When lenders simply will not agree to revised payments arrangements or other types of workouts and they threaten or file lawsuits, a Chapter 11 bankruptcy case may be the only way to retain control of your business.  Chapter 11 has been amended recently to make it easier for small businesses to reorganize.  Individual Chapter 11 cases are being filed in Colorado in increasing numbers.

Whether your experiencing financial problems or beginning a new venture, my perspective could be of help because, unlike most lawyers, I have designed, operated and sold a start-up business and developed and syndicated commercial real estate projects – all in both good and bad markets.

I’m an experienced securities law attorney and franchise law attorney.  Over the years I have handled numerous commercial business loan transactions, business purchases and sales and mergers in more than thirty-five years of business and legal experience.

I give clients practical, straight-forward advice about financial matters which draw on my personal experiences as a business owner and attorney.  2009 and 2010 promise to be challenging years for all of us in Southern Colorado.