SURVIVING FINANCIAL DISTRESS FROM COVID-19 IN THE RESTAURANT, BAR, AND SERVICE INDUSTRY
BN Lawyers
MARCH 23, 2020
These parties could foreclose or repossess the property securing the loans. These creditors are not of equal importance. A lender who provided a secured loan for your kitchen equipment would have a difficult time profitably foreclosing on those assets. Unsecured lenders should generally be willing to defer payments.
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