Commercial Finance & LendingOverviewSuccessful relationships between lenders and commercial borrowers depend on clearly defined agreements. Our Commercial Finance and Lending team helps clients explore the full spectrum of finance options and develop the complex contractual terms that are key to mutually beneficial relationships. Clients benefit from our focus on strategic issues and in-depth knowledge of a wide variety of industries, which enable us to negotiate terms that protect them throughout the lending relationship. We also offer creative solutions to challenging situations, including:
- Providing practical, effective advice in distressed financial situations
- Structuring and closing complex financial transactions
- Resolving difficult and adversarial financial disputes (including through litigation)
- Facilitating strategic acquisitions from distressed sellers (in and outside of bankruptcy)
From structuring the transaction to performing due diligence, negotiating terms, drafting documentation, securing complex collateral, coordinating all aspects of the deal, and resolving post-closing issues, our team helps facilitate timely and cost-effective deal flow.
LIBOR Transition Services
Our attorneys counsel lenders, borrowers, and derivatives counterparties on the LIBOR phase-out and its impact on contract terms. Millions of loan agreements and other financial contracts that reference LIBOR need review and amendment.
To help banks process LIBOR amendments in large numbers, Michael Best developed an efficient process that combines decades of human experience with a proprietary software platform. Using the platform’s advanced AI tools, we can quickly identify and inventory relevant contracts and language. Our High-Volume Documentation team then reviews the identified contracts and drafts necessary amendments.
We provide high-volume documentation services to financial services clients throughout the United States. We’ve adapted our approach for a variety of loan documentation projects and are now applying it to the LIBOR transition. Michael Best’s technology-enhanced review process saves time and money—and we pass that along to our clients.
Click here to learn more. ExperienceWe represent companies of all sizes in many different industries, institutions that finance their operations and growth, and bond issuers and underwriters. Our clients include nationally and locally prominent commercial banks, finance companies, insurance companies, and other lenders, as well as borrowers seeking secured or unsecured financing arrangements. Our experience includes:
- Revolving and term loans
- Secured transactions (including asset-based lending, chattel paper financing, floor plan financing, and aircraft and vessel financing)
- Commercial mortgage and construction loans
- ESOP loans
- Intercreditor agreements, loan syndications, and participations
- New Market Tax Credit financings
- Mezzanine loans
- Seller-financed transactions
- Leveraged buyouts
- Venture capital financing
- Private equity
- Letters of credit and reimbursement agreements
- Foreign exchange transactions
- Commercial leasing, equipment financing, and leveraged leases
- Agricultural and other specialty finance
- Purchase and sale of individual loans and loan portfolios
- Interest rate swaps and other derivative transactions
- Public project finance
- Sales of accounts and other off-balance-sheet financing
Our attorneys counsel lenders, borrowers and derivatives counterparties on the LIBOR phase-out and its impact on contract terms. We carry out both large- and small-scale contract amendment projects, replacing LIBOR references with our customized fallback terms. We ensure that our clients are up to speed on the latest developments related to the Secured Overnight Financing Rate (or “SOFR,” the USD-LIBOR replacement), and other industry initiatives related to the transition away from LIBOR. Our attorneys are also available for trainings on benchmark reform and how to most efficiently and effectively prepare for the “end” of LIBOR in 2021. Related People Preview Attorney's BiographyJane brings a well-versed background of experience to her work as a banking & financial services paralegal. As the lead paralegal in the firm’s Derivatives group, she assists bank clients as a documentation specialist for interest rate swaps, foreign exchange, and other derivative products. Jane also has extensive experience in assisting with matters involving estate planning, probate, and registered investment company filings with both the SEC and FINRA. Jane C. Taugher* *Names that appear with an asterisk indicate a Michael Best professional not admitted to practice law.  Preview Attorney's BiographyClients across multiple industries turn to Michael to coordinate their more complex business transactions. They value his quick assessment of issues and their implications, as well as his creative yet effective solutions to the many issues that arise during the course of a transaction.Michael’s practice focuses on mergers and acquisitions, buyout transactions, securities regulation, and venture capital investment transactions.  Preview Attorney's BiographyDave is a skilled and entrepreneurial-minded attorney who focuses on helping start-up and early growth companies with all of their business needs.  Preview Attorney's BiographyAlec serves as primary outside counsel to national, regional, and community banks on interest rate swaps, foreign exchange, commodities, and other derivatives product lines, including documentation for customer transactions and Dodd-Frank Act compliance. In addition, he represents end-users on interest rate swaps, foreign exchange, commodities, and other derivatives transactions and compliance. Alec also practices in the areas of commercial lending, corporate finance, and mergers and acquisitions.  Preview Attorney's BiographyMike is a member of the firm’s Management Committee and serves as the Firm Hiring Partner. He is also the former chair of the firm’s Transactional Practice Group. He is an experienced transactional attorney who serves as outside general counsel to many real estate investment and corporate clients, and is seen as strategic counselor and advisor.  Preview Attorney's BiographyNancy is a partner in the Real Estate group. Her more than 30 years of experience covers a broad range of real estate law, including assisting clients in purchases, sales and leases of property, and development and zoning work; representing borrowers and lenders in real estate loans; assisting in foreclosures and workouts; advising on questions of condominium law; negotiating construction and architects' contracts; and assisting in real estate litigation.  Preview Attorney's BiographyDavid brings a wealth of experience to his corporate law practice, including prior roles as a M&A investment banker, commercial lender, educator, entrepreneur, and investor. He represents start-ups, nonprofits, and major corporations in a range of transactional matters including mergers and acquisitions, debt and equity financings, private equity and venture capital fund formations, commercial transactions, nonprofit entity formations, business succession planning, and general corporate matters.  Preview Attorney's BiographyVince represents clients involved in sophisticated transactions, including commercial lending; business planning and formation; and mergers, acquisitions, and divestitures.  Preview Attorney's BiographyClients call on Hamang for guidance on the federal, state and local tax and business law issues stemming from complex business transactions. His strategic counsel encompasses mergers and acquisitions, tax-free reorganizations, spin-offs, new market tax credit financings, historic tax credit financings, partnerships and joint ventures, REIT acquisitions, real estate transactions, and renewable energy tax incentives.
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