Commercial Lending Attorneys
Shakespeare notwithstanding (“neither a lender nor a borrower be”), the economy runs on credit. An essential resource for commercial lenders is counsel that understands the legal principles controlling loan structure and enforcement and also the business principles driving the industry. That same understanding is just as valuable a resource for businesses facing the challenges and demands of borrowing for their own enterprise needs.
For over 40 years, Bean, Kinney & Korman has been deeply involved in providing bank and lender services to a diverse client base, including regional and national banks, non-bank lenders and credit unions, as well as commercial borrowers.
Focused on Clients’ Interests
Our attorneys provide knowledgeable and experienced counsel in structuring loan credits, assisting with preparation of indicative terms sheets and commitment letters, and managing and evaluating due diligence information. We are also skilled at preparing and negotiating loan documentation, all with a close, but practical, eye on our clients’ interests.
Experience in a Range of Lending Types
Our familiarity with a broad range of types of lending makes it easy for us to quickly understand our clients’ needs and usefully guide the discussions and decisions that shape each credit facility. We are experienced with credits underwritten on the cash flow from service provider or government contract receivables, secured by equipment or real estate, extended to religious organizations or other nonprofits, and made pursuant to various SBA programs.
Knowledge of Rules Governing Security Interests
We know the kaleidoscope of rules governing the creation and perfection of security interests in all manner of collateral, from real estate to aircraft engines. We can explain the significance of asset type, location, possession and title, as well as the importance of understanding borrower organizational structure in understandable terms. It can be an unpleasant surprise to a lender to find its security interest set aside in bankruptcy because an essential step was missed when the loan was made.
Understanding of Loan Syndications
Our lawyers understand the considerations involved in loan syndications, whether for the lead or participating lenders. We are adept in structuring and drafting inter-creditor agreements for deals that don’t fit neatly into a template.
Alternative Approaches for Lenders and Borrowers
Our deep understanding of commercial finance from the lender side makes us a valuable resource for borrowers. We provide practical advice and guidance on loan terms and structuring credits that work for the borrower’s business. We can often suggest alternative approaches that better suit the borrower’s situation and are not detrimental to the lender – making both sides happier in the longer run.
We would be pleased to make our capabilities available to you in your credit transaction in whichever role you play.
- Originally posted March 30, 2020. Updated April 4, 2020April 4, 2020
- BKK Business Law Newsletter, July 2015
- BKK Business Law Newsletter, January 2015
- Commercial Investment Real Estate magazine, July/August 2010
- Virginia Builder, May 2009
- Business Insights, May 4, 2020
- Business Insights, March 30, 2020
- Real Estate, Land Use & Construction Law , June 19, 2019
- Real Estate, Land Use & Construction Law , June 11, 2019