Practices

  • Debt Finance Transactional
  • Asset Finance & Securitization
  • Capital Markets Corporate Governance Mergers & Acquisitions Private Equity Restructuring

Admissions & Qualifications

  • 2008, Maryland Bar
  • 2009, District of Columbia Bar

Languages

  • English
  • Chinese (Mandarin)

Education

  • University of Maryland School of Law, JD, 2008
  • Georgetown University School of Foreign Service, BS, 2004

Eric Maurice Fung, Esq.

Partner | Attorney

efung@bandicoot.us

Minneapolis, MN | Taipei, Taiwan

Eric Fung is a founding partner of Bandicoot, and serves as the managing partner for our Taipei office. Eric started his career in law, practicing corporate finance, mergers/acquisitions, and energy law at Constellation Energy Group, DLA Piper US LLP, and Dickstein Shapiro LLP. In 2011, he became an entrepreneur completing a leveraged buyout of a 37,000 square foot supermarket and in-store restaurant in Minneapolis called United Noodles Marketplace.

During his tenure, he successfully accelerated his businesses to sustained growth. His financial acumen and skill in developing high-performing teams resulted in a 350% growth in sales from 2011 to 2020. He also opened other successful business units and locations, including a Woodbury location and a wholesale division. In 2015, he was named one of Minnesota’s “40 Under 40” for his leadership at United Noodles.

In order to solidify the financial health of his companies, Mr. Fung also developed sophisticated bookkeeping, accounts payable, and other workflow systems that eventually led to his becoming a partner of the Minnesota accounting firm AccountPro LLC. In 2019, it merged with and was rebranded as bandicoot LLC, and has over 80 clients.

Eric has a passion for talent development, and driving diversity in both teams and thought. He is an innovative, entrepreneurially-minded leader, who leads with a long-term view on vision and strategy.

In his spare time, Eric loves cooking, working out, and playing Smash Bros. with his nine year-old son. His most firmly held belief is that every dog is The Best Dog.

A CONVENTIONAL SUPERMARKET

EMPLOYEE RETENTION CREDIT

TAX REFUND

the challenge

Amidst the upheaval brought on by the COVID-19 pandemic, United Noodles, the largest Asian grocery store in Minnesota and its neighboring states, found itself grappling with challenges. The store, heavily reliant on products supplied outside of the US, was hit hard by pandemic-related restrictions, shutdowns, and supply chain disruptions, resulting in significant revenue losses. These unprecedented circumstances exacerbated the strain on their financial operations

At first, the client did not know about the IRS government program "Employee Retention Credit" where the government is offering businesses up to $26,000 per employee. Our team reached out knowing that they are potentially missing out on a significant amount of money.
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At first look, the Bandicoot team knew that we could streamline our client’s AP process and give crucial time back to their business.

With simple automations and an organized method,we set out with ha goal of reducing the workload for this weekly project by more than 70%.

the workflow

Talking to our client with the goal of understanding all the challenges they faced during the pandemic, we realized that they had huge issues with the supply chain that made the client unable to supply their store with goods.

Once we established their eligibility for the ERC, we gathered all the documents they had to provide us to do the necessary calculations.

We next did the calculations, and wrote a 400 page legal document with all the proof that they actually did face challenges during COVID-19.

Finally, we filed the application and had to wait for 2 months to receive a positive answer from the IRS!

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in conclusion

As a result of our work and calculations, the client was eligible to receive a seven figure number considering they had a lot of employees.

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