In The News

MoFo Helps Spearhead Calif. ‘Rebuilding Fund’ For Small Biz

Law360

06 Dec 2020

Suz Mac Cormac was featured in a Law360 article covering her work leading the California Rebuilding Fund, a multimillion-dollar public-private partnership that a pro bono team of 17 Morrison & Foerster attorneys helped design on behalf of the state’s smallest businesses.

“When COVID-19 hit, I immediately looked at small businesses and thought, ‘It’s going to be the same thing here,’” Suz said, realizing early on that small businesses in need of assistance and that there needed to be a structure to effectively offer it.

The fund, which received an anchor commitment of $25 million from the state and is drawing additional capital from philanthropists and lending institutions, is designed to offer low-interest loans to businesses with no more than 50 employees and that earned up to $2.5 million in gross revenue in 2019. More than 3,000 businesses have already applied for relief so far.

Read the full article.

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