Washington State Updated Homestead Exemptions and Bankruptcy
The Washington State legislature has passed significant changes to the Washington homestead statute. The new law provides for an increase in homestead exemptions based on “the county median sale price of a single-family home in the preceding year.” The Engrossed Substitute Senate Bill 5408 became effective on May 12, 2021, when it was signed by Governor…
Master The Customer Life Cycle And Survive
To acquire, manage, and grow their customer base, every successful business must have a clear understanding of the customer life cycle. The customer life cycle is a collection of stages through which a customer “travels” in the life of their relationship with your business. The four stages of the customer life cycle are: Reach Acquisition…
You Can Leverage Business Debt To WIN
When the average person thinks of debt, they imagine mounds of unpaid credit card bills, high-interest car loans, and a 30-year mortgage that keeps them tethered to an unfulfilling job just to keep a roof other their head. For them, debt is a prison – something to be feared, and if possible, avoided. This is…
New SBA Guidance On PPP Eligibility for Individuals in Bankruptcy
The Small Business Administration has issued new guidance on PPP loan eligibility for individuals or entities in bankruptcy. Any debtor in a bankruptcy case, or part-owner of a debtor, who is considering applying for a PPP loan needs to time the application to meet these eligibility considerations. To be eligible for a PPP loan, an…
Leveraging Strategic Partnerships For Success
Even as the U.S. economy regains steam in 2021 and GNP grows by 10%, some companies still struggle to survive. This is especially true for businesses that rely on foot traffic or office workers since the demand for office space is down 38% nationally. The good news is that strategic partnerships can improve any business’…
Seattle Bankruptcy Attorneys Named 2021 Super Lawyers
Bankruptcy and business law attorneys Alan Wenokur and Nate Riordan were named 2021 Seattle Super Lawyers, an honor bestowed on only 5% of the lawyers in Washington each year. This is the 10th year in a row Alan has been named a Seattle Super Lawyer for his outstanding work in bankruptcy law, 2012 – 2021; …
New COVID Safety Rules: Is Your Business Compliant?
As Washington State businesses slowly reopen even as the pandemic enters into its second year, there is a lot of confusion about the new safety rules and reopening compliance. Hopefully, we can offer some clarity. As of this writing, most of Washington State is in Phase 2 of Governor Inslee’s reopening strategy. The only exception…
Best Practices For Crafting A Leave of Absence Policy In The Age of COVID-19
As we get closer to the second year of the pandemic, employers are faced with more sick workers who need to take a leave of absence for weeks (and in some cases months). How can businesses ensure that their leave policies are appropriate for our current challenges and equitable to all employees? Let’s take a…
Tips and Strategies For Getting PPP Loan Forgiveness
Did you receive a Paycheck Protection Program (PPP) loan in 2020? If so, it may be time to apply for forgiveness. Qualifying borrowers may get up to100% of their loan forgiven if they meet the requirements set by the Small Business Administration (SBA). Here’s a closer look at what strategies you should implement if you…
5 Tips for Businesses Who Want to Apply for the New Round of Working Washington Business Grants
The following information is provided by the December 3 Business and Workers Update and the state Economic Resiliency Team (ERT), part of the Washington State Joint Information Center: The application for the new round of Working Washington business grants is now open. Businesses can apply for up to $20,000 to offset costs or expenses due…