Monthly Archives: April 2020

The Federal Reserve recently announced that it is establishing the Main Street Lending Program (“MSLP”) to provide significant financing for businesses impacted by the COVID-19 pandemic.  The MSLP will provide 4-year loans to companies employing up to 10,000 workers (or with revenues of less than $2.5 billion on an annualized basis).  The minimum loan size will be one million dollars.  Principal and interest payments will be deferred for one year.  MSLP loans are not currently available, but they are expected to come online soon, as the Federal Reserve is currently working to create the necessary infrastructure and is considering feedback provided by the public.  

Read More

Gammage & Burnham is pleased to announce that Chambers USA 2020 has ranked six of the firm’s attorneys and two of our largest practice groups among the best in the U.S.

Chambers and Partners, which produces “Chambers USA,” is a client referral organization that researches and subjectively ranks attorneys and law firm practice groups nationwide. It ranks firms and lawyers who are considered leaders in their profession.

The firm earned rankings in two of its core areas:

Zoning/Land Use (Band 1) and Real Estate (Band 2).

Read More

Congressional leaders are reportedly close to an agreement on new legislation providing additional funding for the Paycheck Protection Program (“PPP”). Eligible businesses who have not yet obtained a Payroll Protection Program loan should be prepared for the program to re-open soon.  Initial PPP funding was rapidly depleted, and many eligible businesses were unable to participate in the unprecedented program.

Please compile your documents together so you can provide to your lender, as needed, to support your company’s loan request, including but not limited to payroll records.  For those companies that did receive the PPP funding, make sure your company is implementing best practices to utilize and document the money in compliance with the applicable rules.  

Read More

Click below to read Grady Gammage, Jr.’s recent insights published by ULI Arizona!

April 6th Insights

April 15th Insights

Read More

By Nicole Ricker

We have an important update regarding current commercial landlord/tenant issues and small business evictions.  On April 6, 2020, Gov Ducey issued Executive Order 2020-21, “Prohibiting Small Business Evictions”.  Click Here to read a copy of the Order.
 
The Order suspends, until May 31, certain commercial evictions or similar actions against tenants unable to pay rent due to financial hardship caused by the COVID-19 Pandemic unless a court determines suspension of eviction is not appropriate.  It also requires landlords, tenants and lenders to take or consider taking certain actions.

Tenants may see this Order as a rent holiday.  

Read More