Certa Dose seeks court approval to use cash collateral of SBA

By Sarah Lizee

Olympia, Wash., June 15 – Certa Dose, Inc. is seeking court approval to use the cash collateral of the U.S. Small Business Administration, according to an emergency motion filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The company is currently indebted to the SBA for an economic disaster recovery loan it obtained in June 2020 in the amount of $150,000.

The amounts outstanding under the loan are secured by, among other things, all of the debtor’s tangible and intangible property.

Proceeds from the cash collateral would be used to continue the company’s business operations and preserve the value of the bankruptcy estate, Certa Dose said.

The New York-based company develops, licenses and sells pharmaceutical products and technology. The company filed bankruptcy on May 30 under Chapter 11 case number 21-11045.

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