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Forgivable loan / Retain K&K now for loan forgiveness program
March 30, 2020
Forgivable loan /  Retain K&K now for loan forgiveness
             You have been affected by this crisis.  Everyone has.  Maybe your employees the most.  The stimulus package is designed as a give back to small businesses.  You don't have to read between the lines of the law to see that it's the employees, especially those making less than $100K annually, and the landlords who are to be cared for.  Most of the loan money goes for payroll and rent.  Of course that's a great benefit to any business owner, especially when business may be so slow that normal payroll is unnecessary.  
​             You owe it to yourself and your employees to get the PPP loan.  Even if you're sitting with sufficient funds in your business to survive the crisis, you are eligible for the PPP funding.  You need to move on this because we know that funding is limited and we don't know if additional funds will be made available.
If you're on the fence, get off.  If you've had bad experience with SBA before, that's not surprising.  But this is different.  If managed properly you will be able to get this loan without too much hassle.  You most likely qualify.  
             If you are careful how you spend the loan proceeds we will be able to get the debt forgiven.  That means you get the money, use it for payroll, rent and other approved expenses for 8 weeks, and then we process the loan forgiveness.  If you want to retain the loan and use the money for other purposes the loan will be for 10 years at 4% per annum.  But our goal is to get the loan forgiven.   Contact Stacy Spector,Esq today at 516 747 6700 x 304or email her at  We will immediately get the process started.  

            The loan can be sizable; 2 1/2 times your average monthly payroll for past 12 months. Use the money to pay your employees, rent and other permitted expenses.
            Getting the loan may be the easy part, though I believe you need to act quickly because I think the funding for the PPP is going to dry up fast and loans won't be available.
            The hard part may be getting the loan forgiven.  
K&K has established a dedicated department to advise and assist our clients with the PPP application and process
Contact Stacy Spector,Esq today at 516 747 6700 x 304 or email her at
Sign up with K&K today so we can assist you in getting the PPP process started.  We will assist you to get the loan, counsel and monitor you so that the loan proceeds are used and disbursed properly, and assist getting the loan forgiven.

         Details of our services and fees are as follows:
Paycheck Protection Program (PPP) Loans provides cash flow assistance through 100% federally guaranteed loans to employers who maintain their payroll during this national emergency.  If payroll is maintained, the loans will be forgiven. There are caveats of course. 

The Coronavirus Aie, Relief and Economic Security (CARES) Act

Kirschenbaum & Kirschenbaum Coronavirus Aid, Relief and Economic Security (CARES ACT) Application Assistance Program for the Paycheck Protection Program (PPP) Loans: 

Phase One: Flat fee of $2,500 includes:

  •      Initial consult with one of our qualified attorneys

  •      Determine eligibility

  •      Expected amount of loan

  •      How loan funds should be  utilized

  •      Whether you will qualify for  forgiveness

  •      Provide SBA Compliance Package questionnaire

  •      Review client’s compliance package in anticipation of submission to SBA

  •      Review all relevant financial documentation including monthly operating         expenses and tax returns

  •      Confirm loan qualifications, amount and forgiveness eligibility

  •      Expert review of your loan submission to avoid delay

  •      Assist in follow up requests for information and documentation by SBA

Phase Two for $2500 [after loan proceeds have been received] 
Ongoing services include:

  • Monitoring during the loan period [2 months] to assist you in staying compliant for loan forgiveness purposes

  • work closely with your accountant to monitor your finances, particularly those related to the loan proceeds to keep you advised of your continued compliance

  • our goal is to ensure that your loan will be forgiven in part or in ful

  • Ongoing consultations with you, your accountant and CFO to set up appropriate financial monitoring program

  • Provide monthly operating report form

  • Review monthly operating report

  • Provide notice of current loan compliance or departure issues

  • Assisting with the application for loan forgiveness

Reaching K&K during the lockdown

     During this crisis the most efficient way to reach our attorneys is via email.  You can also call and if not picked up, leave a message and your call will be returned promptly.
    Here are a few departments to contact directly:
alarm / security / pers / fire department:  Ken - or call and leave a message with return number at 516 747 6700 x 301
health care professionals:  Jennifer Kirschenbaum,Esq 516 747 6700 x 302;
alarm licensing:  Alison Gallub,Esq 516 747 6700 x 317; or Eileen Wagda, Licensing Administrator, 516 747 6700 x 312
Employment issues:  Kieran Bastible 516 747 6700 x 315  kbastible; or Jennifer Kirschenbaum,Esq
Concierge Alarm Clients have full access through our Concierge Program Coordinator, Stacy Spector, Esq  516 747 6700 x 304 or 

Collections:  [courts are shut down at this time, so don't expect much progress.  We will however continue to prepare papers on our end so that we will be ready when the courts normalize]  Kathleen Lampert  516 747 6700 x 319
Pending litigation:  Caroline Wallet,Esq  516 747 6700 x 305 and Maureen Biel,Esq 516 747 6700 x 303  MBeil@Kirschenbaumesq,com
Bankruptcy and debt collection issues:  Steve Sheinwald,Esq  516 747 6700 x 309 or Scott Dillon,Esq  516 747 6700 x 318

Webinars Series 2020 - Register now
When: April 7, 2020 at 12 PM  ET
Topic:  discussion on the current state of the Financial/Capital Market Stability in the Security Industry and necessary agreements needed for security companies
Presented by:  Troy Iverson, VP of Sales, Brian Davis, CFO of AvantGuard Monitoring Centers
Hosted by:  Ken Kirschenbaum, Esq
Who should attend: owners, CFO, managers, 
Register here:  

To order up to date Standard Form Alarm /  Security / Fire and related Agreements, click here:
You can check out the program and sign up here: or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304.
NOTICE:  You can always read our Articles on our website at
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301