Second Wind Consultants Saves 2000 Small Businesses with UCC Article 9 Law That Prevents Bankruptcy, Removes Debt, Preserves Jobs.
NORTHAMPTON, Mass.–(BUSINESS WIRE)–Second Wind Consultants, as reported in Bloomberg Businessweek 8/19/2020, invokes the Uniform Commercial Code (UCC) Article 9 law to offer a solution that saves US small businesses and jobs, without further government assistance (PPP, EIDL) and without bankruptcy or courts.
This is a game changer that can save small businesses that are quickly running out of PPP and other options to survive.
Lending experts anticipate a tidal wave of bankruptcy filings heading into Q4 2020. Millions of small businesses are expected to close forever. With UCC Article 9, the majority of this could be avoided, preserving businesses and jobs while helping the economy recover. UCC Article 9 applies in all 50 states and across every industry.
When a business is insolvent, UCC9 allows the owner and bank to cooperate in a reorganization that fully removes debt from the business so it can return to profitability while