The definition of Hard Money Lending is fairly simple: a Hard Money Loan is a loan of “last resort” or a short-term “bridge loan.” Bridge Loans are loans of short-term duration that are typically a temporary solution to longer term financing from more...
What is due diligence? (1) The care that a reasonable person exercises to avoid harm to their person, finances or that of another person. [1] (2) The process of obtaining and evaluating details about the subject, entity, or investment opportunity before making a...
This article continues the series on PPP loans but relates to the forgiveness of the SBA PPP Loan. Starting in October 2020, a recipient of a PPP Loan has ten months to report to its lender the disposition of the loan proceeds. The reporting can be done on Form 3508,...
In April 2009, the Securities and Exchange Commission issued a notice to investors entitled, Broken Promises: Promissory Note Fraud (U.S. Securities & Exchange Commission 2009).The notice defines a promissory note as a form of debt—similar to a loan or an IOU—that...
In Austin, TX, an individual convicted of conspiracy recently had his conviction overturned by the 5th Circuit Court of Appeals in New Orleans. During oral arguments for the appeal, the Austin American–Statesman newspaper stated, “The federal judges weighing his...
When reviewing transactions in an accounting system it is important to pay particular attention to journal entries. Journal entries are used to adjust accounting records for activities that are not cash in nature. When dealing with an accrual accounting system,...
