Foremost amongst its competitors, the Firm has a unique Transactional Finance (Finance Documentation) department. Experienced in many industries from a broad based commercial practice, the Firm is widely consulted by regional and national lenders for documentation structure in C&I loans (Commercial and Industrial) and due diligence. Committed to structuring the legal transaction in accordance with bank credit approval documents, the Firm examines the credit approval documents and determines whether the proposed structure is complimentary. If so, the Firm begins the documentation process. But frequently, the due diligence reveals a flaw in the structure, collateral or covenants and the Firm must make a legal recommendation restructuring the terms, perfecting the lender’s liens or modifying affirmative or negative covenants.
The Firm's SBA documentation practice group has an unparalleled depth of experience handling a broad variety of industries and businesses including, business and real estate acquisition or expansion, restructuring existing debt and equipment purchases. Our documentation skills in secured lending, real estate and equipment leasing are combined in most SBA loans, reflecting the variety of assets pledged. The group has extensive experience representing lenders and negotiating with business owners, institutional landlords, commercial tenants, franchisors and real estate developers in connection with negotiating and documenting loans specifically structured for real estate secured financing, working capital and business formation, single and multi-property acquisitions and dispositions, retail and commercial leasing and asset-based financing.
Our SBA practice provides legal advice and document preparation for bank clients in a multitude of SBA guaranteed loans, under both the 7(a) and 504 programs. We routinely document a fair volume of SBA 7(a) loans for several banks where often a mix of the mandated SBA documentation along with customized additional loan documents are necessary, including mortgages and other documents unique to the assets in question.
Among the more sophisticated 504 loans we have handled included several loans where bridge financing was documented and subordinate to the SBA guaranteed permanent facility. This often necessitates issues involving us in due diligence. In circumstances like these, we request from the Borrower, and thoroughly review, all appropriate due diligence documents to insure that the requirements of SBA Authorization and the Bank’s Credit Memorandum are met. Although we hope that it will never be necessary to draw upon the SBA guaranty due to a Borrower default, we make certain that should the need arise, the SBA will not be in a position to deny payment under the guaranty due to lack of proper documentation.
Frequently, we are called upon to collect due diligence documents requested and still close the typical uncomplicated SBA 7(a) loan in 72 hours from receipt of the SBA Authorization. (This assumes that Borrower has cooperated in providing the due diligence documents identified and can comply with all collateral conditions of the Authorization).
BUSINESS BANKING LOAN DOCUMENTATION
The Firm's Business Transactions and Commercial Finance group represents bank real estate, commercial and industrial and business banking departments in analyzing and drafting commercial loan documentation for the bank’s business transactions and lending. The Firm's transactional attorneys are distinguished by their focus and attentiveness to the enforceability of the provisions in a loan document or business agreement. Our professionals are pragmatic and strategic in assessing what remedies are essential to protect a client’s interests and what legal terms and conditions should not be waived. Our transactional attorneys maintain a “Creditors’ Rights” perspective in structuring deals for our clients and bring a wealth of experience gained in the practice of business, corporate and commercial law.
Our attorneys are attuned to the business transaction itself and are deal makers, not deal breakers. When the Borrower is not represented by commercial counsel, the Firm's attorneys are excellent at assisting the culmination of the transaction and aid the borrower’s counsel in understanding the nuances and interpretation of terms and conditions in loan documents. The same is true if the borrower elects to be unrepresented. First and foremost, the Firm is a business firm and its transactional attorneys are well versed in communicating the “deal”. Whether the issue is corporate formation and structure, Article 9 and a security interest, the impact of a potential bankruptcy, real estate or construction and land use issues or trust and estate implications, the Firm's transactional attorneys are well experienced in all aspects of these areas which helps close a deal.
Our business banking loan documentation attorneys are well experienced in drafting and negotiating custom loan agreements such as the following:
All of the above documents are custom drafted and prepared for the individual deal. However, we understand that in this fee sensitive world, some clients prefer using LaserPro documents. In these instances, we do a review only function or review and closing. This way, if the documents need customization, it can be done by amendment or modification. We cater to lenders who do business with entrepreneurs and being cost-conscious for us is of paramount importance. In this vein, our rates are substantially less than large firms and we establish a “flat rate-not to exceed” figure for our documentation deals.
Lenders hire us for our experience in Commercial law which serves to make the best transactional attorneys. We have represented many investors, contractors, business owners and managers and funds. Our labor and employment practice has exposed us to a great many types of businesses and we are experienced with the pension funds and taxation inherent in them. There is probably not a form of business we have not represented which translates to a plus in understanding the collateral and security interests to perfect.
Ultimately, however, it is the skill of the lawyers that sets us apart and our philosophy. We are solution oriented and innovative.
Our unique understanding of Article 2A and Equipment Lease contract provisions has led to our clients favoring our documentation of their specialty Lease Origination programs including, Vendor Program Agreements, One-off Lease purchase assignments (stream of payments and/or residual), Custom Master Lease Agreements and Schedules and Remarketing Agreements, Titling Trusts and Syndications of Pools of Assets. the Firm is recognized nationally for documenting Equipment Finance Warehouse Lines on behalf of Lessors and Bank Lenders and Bundled Lease Finance Loans for long-term equipment finance secured by lease and residual.