21A Calls for 60-Day Moratorium on Bank Principal/Interest Payments

Dear Client: Today, San Francisco-based 21st Amendment co-founder, Nico Freccia, called on commercial lenders to delay principal and interest payments for two months in the wake of COVID-19, so companies like his could make payroll. The brewer operates a brewery and restaurant in San Francisco and a taproom/production brewery in nearby San Leandro. They employ 110 workers in total, but after the Bay Area's mid-March shelter-in-place directive, they either let go or furloughed about 60 employees, all in hospitality. Despite