Pro Bono Heroes: MoFo Team Crafts New Aid For Businesses Shuttered By COVID – Law Department Performance – United States – Mondaq News Alerts

United States:

Pro Bono Heroes: MoFo Team Crafts New Aid For Businesses Shuttered By COVID

…….

npressfetimg-998.png

United States:

Pro Bono Heroes: MoFo Team Crafts New Aid For Businesses Shuttered By COVID

09 November 2021

Morrison & Foerster LLP

To print this article, all you need is to be registered or login on Mondaq.com.

Suz Mac Cormac was featured in Reuters for
her work with the California Small Enterprise Task Force and the
California Rebuilding Fund, a $1 billion private-public loan
program to support the state’s smallest entrepreneurs.

As one of the founders of the programs, Suz led a core team of
17 Morrison & Foerster lawyers in developing an innovative
blended finance structure for the fund. The team donated 5,300
combined hours of work for their effort to become Legal
Action’s Pro Bono Heroes for October.

“We all independently recognized that [federal aid] was not
reaching small businesses in the poorest communities,” Suz
said. The California Rebuilding Fund, which by mid-October had
funded 778 loans totaling $50 million, was designed to fill the
gap.

The model for the fund’s structure, which leverages state
guaranty funds, philanthropic funds, senior bank capital, and
subordinated loans from foundations and program-related
investments. “It hadn’t been used before,” Suz said.
“We created it.”

Read the 
full article, which also features a video interview with
Suz.

Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.

© Morrison & Foerster LLP. All rights reserved

POPULAR ARTICLES ON: Law Department Performance from United States

Pioneers And Pathfinders: Kristen Cook (Podcast)

Seyfarth Shaw LLP

As buyers of legal services, in-house counsel are in a powerful position when it comes to legal industry innovation. Today’s guest, Kristen Cook, has used that position to do remarkable things…

Meet MoFo’s Diverse IP Litigators: Shaelyn Dawson

Morrison & Foerster LLP

Shaelyn Dawson is an associate in MoFo’s San Francisco office. Her practice focuses on representing clients in copyright and patent cases in the electronics, semiconductor, and pharmaceutical industries.

Source: https://www.mondaq.com/unitedstates/management/1129122/pro-bono-heroes-mofo-team-crafts-new-aid-for-businesses-shuttered-by-covid

Leave a Reply

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