Dinn, Hochman & Potter, LLC

November 2014 Archives

The SBA 7(a) loan program

Business owners in Ohio may benefit from understanding more about how proceeds from the 7(a) loan program of the U.S Small Business Administration may be obtained and used. Entrepreneurs and owners who are interested in receiving such a loan need to be aware of any restrictions on use that may be applicable. There are several restrictions in place for these types of loans.

Hormel Foods sued in court over dishonest business practices

Some Ohio business owners may be interested in a lawsuit that was filed on Oct. 29 in a U.S. Bankruptcy Court; the suit alleges that Hormel Foods Corp. engaged in dishonest business practices, leading AgFeed Industries Inc. to file bankruptcy. The suit, filed by shareholders of the now defunct AgFeed Industries, also claims that Hormel Foods withheld information related to livestock raising company M2P2's business practices. The lawsuit is seeking an unspecified amount of damages.

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