Monthly Archives: October 2016

Update on Community Development and Affordable Housing: Is an Answer Found in Social Enterprise?

Today the Community Development Financial Institutions Fund released its five year Strategic Plan If you are not familiar with the CDFI, the CDFI “works to spur economic growth and opportunity in many of our nation’s most distressed communities.“ “The CDFI Fund’s mission is to expand economic opportunity for underserved people and communities by supporting theContinue reading “Update on Community Development and Affordable Housing: Is an Answer Found in Social Enterprise?”

Real Estate Investors Bidding at Foreclosure Sale: If You Pay Less than owed on the Mortgage, there is no Surplus.

Real estate investors and lenders are under pressure to “get it right” when bidding at sheriff sales, especially in a market where good deals are getting harder to come by. Some lenders/investors have tried some creative methods of recovery and made some interesting legal arguments in order to  maximize their profit at  or after foreclosureContinue reading “Real Estate Investors Bidding at Foreclosure Sale: If You Pay Less than owed on the Mortgage, there is no Surplus.”

Trending Towards Social Entrepreneurship: Update on Michigan’s Benefit Corporation Legislation.

  House Bills 5710, 5711 & 5712 were introduced on May 31, that would allow BCorps to be formed under Michigan Law. Although the State House has taken no formal action since June 1, in late September the House Fiscal Agency issued a Fiscal Analysis on the BCorp bills, check it out here. The AnalysisContinue reading “Trending Towards Social Entrepreneurship: Update on Michigan’s Benefit Corporation Legislation.”

Business Law Update: Why Your Operating Agreement Matters.

Business Owners and Entrepreneurs: Let me paint you a picture: You decide to go into business. You’ve identified a business partner. You and your business partner decide the details of who is going to contribute what (capital, finances, “sweat equity”, etc..). Your startup is now off and running! Your business does not go as expected. You haveContinue reading “Business Law Update: Why Your Operating Agreement Matters.”