Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • Articles & Insights
    • Resolving MCA Distress
    • Resolving Business Distress
  • Recruiting
    • Molloy Associates Senior Asset Based Lending Originator Location: Remote
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • Articles & Insights
    • Resolving MCA Distress
    • Resolving Business Distress
  • Recruiting
    • Molloy Associates Senior Asset Based Lending Originator Location: Remote
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home News

Senate’s COVID-19 Relief Package Ups Chapter 11 Eligibility Threshold to $7.5MM

byPhil Neuffer
March 26, 2020
in News

The Coronavirus Aid, Relief and Economic Security Act, which was passed by the U.S. Senate yesterday, includes several bankruptcy provisions, according to a press release from the American Bankruptcy Institute.

“Consumers and small businesses in dire need of financial relief due to the COVID-19 coronavirus pandemic will have greater access to the financial fresh start of bankruptcy thanks to this important legislation,” Amy Quackenboss, executive director of the ABI, said. “ABI commends the Senate’s expedited work, and we look forward to swift enactment of this important bipartisan legislation.”

The institute outlined the following specific provisions of the legislation:

  • Amending the Small Business Reorganization Act of 2019 (SBRA) to increase the eligibility threshold for businesses filing under new subchapter V of chapter 11 of the U.S. Bankruptcy Code from $2,725,625 of debt to $7.5 million. The eligibility threshold will return to $2,725,625 after one year.
  • _x000D_

  • Amending the definition of “income” in the Bankruptcy Code for chapters 7 and 13 to exclude coronavirus-related payments from the federal government from being treated as “income” for purposes of filing bankruptcy.
  • _x000D_

  • Clarifying that the calculation of disposable income for purposes of confirming a chapter 13 plan shall not include coronavirus-related payments.
  • _x000D_

  • Explicitly permitting individuals and families currently in chapter 13 to seek payment plan modifications if they are experiencing a material financial hardship due to the coronavirus pandemic, including extending their payments for up to seven years after their initial plan payment was due.
  • _x000D_

  • Additionally, Sect. 3513 of the legislative package provides temporary relief for federal student loan borrowers by requiring the Secretary of Education to defer student loan payments, principal and interest for six months, through September 30, 2020, without penalty to the borrower for all federally owned loans. This provides relief for more than 95% of student loan borrowers, according to the ABI.
  • _x000D_

“ABI members are ready to utilize these tools to help consumers and small businesses struggling with overwhelming debts due to the economic fallout of the pandemic,” Quackenboss said.

Previous Post

Wells Fargo Upsizes Facility for BWX Technologies by $250MM

Next Post

Capital Southwest Withdraws Voluntary $35MM Partial Redemption on 2022 Notes

Related Posts

News

TriState Capital Bank Launches National Treasury Management Offering for Private Credit & Asset-Based Lenders

October 30, 2026
Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

Assembled Brands Closes Multi-Million-Dollar Credit Facility for Skincare Brand GoPure

October 30, 2026
FGI Strengthens and Expands Leadership Team with Key Promotions
Deal Announcements

Cricut Replaces Credit Agreement with $300MM BMO Revolver

October 30, 2026
Deal Announcements

eCapital Provides $12MM Healthcare Receivables Facility to Support Acute-Care Hospital Operations

October 30, 2026
Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

Verisma Closes Golub Capital Financing for Growth, M&A

October 30, 2026
GA Group Promotes Mulcunry to National Sales Manager
News

GA Group Promotes Mulcunry to National Sales Manager

October 30, 2026
Next Post

Capital Southwest Withdraws Voluntary $35MM Partial Redemption on 2022 Notes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ballots and Balance Sheets: What the Midterms Mean for Deal Flow and Asset-Based Lenders

Ballots and Balance Sheets: What the Midterms Mean for Deal Flow and Asset-Based Lenders

October 30, 2026

Collateral First, Hype Second: Mike Semanco on Lending Through the AI Boom

October 16, 2026

Sorry, It Was Nothing Personal

October 11, 2026

Litigation Finance’s Institutional Inflection Point

October 7, 2026

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
    • Articles & Insights
    • Resolving MCA Distress
    • Resolving Business Distress
  • Magazine
    • Magazine Issues
    • Nominations
  • Molloy Associates
    • Molloy Associates Senior Asset Based Lending Originator Location: Remote
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years