Did you know that interest rates move in lockstep with the Fed’s rates? The Fed’s key borrowing rate acts as a benchmark for other loans. So when their rates increase, so do yours. In the past year, existing rates have led to tighter lending restrictions for nearly everyone seeking a loan. For instance, the Fed […]

Has your business fallen on hard times? Have you taken out a variable-rate loan to help you through? While a variable-rate loan may seem like a viable solution, it’s important to understand that you’re at the mercy of changing interest rates. And as any Michigan bankruptcy attorney will tell you, an increase in interest rates […]

If you own a business, you’re likely bombarded with offers for merchant cash advances (MCAs). They’re largely easy to ignore, unless you’re having business cash flow issues. Then they might seem very appealing. After all, you get fast approval and funding, there’s minimal credit requirement, and no collateral is needed to secure short-term business funding. […]

If you’re a small business owner in Detroit or elsewhere in Michigan, then you know you have more obstacles to clear than larger companies in remaining solvent. And with the economy being especially unpredictable right now, there’s an increase in small business owners facing bankruptcy. This is when small business owners in Detroit and throughout […]

Finding success as a small business owner in today’s big-box store and corporate climate is more difficult than ever. Many small business owners are facing the potential of crushing loan debt and credit card debt, attempting to survive the current volatile market conditions, supply chains, and other challenges. If this seems achingly familiar to you, […]

Corporate bankruptcy filings in the United States reached a 14-year high last year. In 2024 alone, 694 public and private companies filed for bankruptcy protection. This rise in corporate bankruptcies is alarming. The previous high was 638 in 2020 as the U.S. and global economies were hobbled by the COVID pandemic. In 2010, 828 companies failed […]