Burnsville, MN Banking Law Lawyer
Finance counsel at Eric T. Olson Law have over two decades of experience in delivering high quality legal services that respond to the varied needs of lending and banking clients. Eric T. Olson Law has a broad ranging experience from institutional “non-recourse” lending, to construction and development lending, permanent and revolving mortgage financing, including Small Business Administration Loans programs (SBA Loans) and other commercial business loan programs. The firm’s banking counsel handle the documentation details and loan diligence review to perfect the agreement and secure the repayment of your loan. Assistance is also provided to our lending clients in working out of troubled loans situations, focusing on advancing your collection processes to reduce future delays and expense, and to maximize possible recovery, where possible.
Lending Law Representation
Construction and Development Financing
With years of experience representing lenders, contractors and developers, Eric T. Olson Law has guided lenders through the details of the construction lending process, delivering high quality legal services that are scalable and responsive to the various needs of the lending organization. Creating an effective construction loan document framework is essential to the Lender’s effective management of the risks and performance of development loans.
Commercial Loan Documentation
For decades finance counsel at Eric T. Olson Law has assisted banking and lending clients through the efficient and effective loan documentation and loan diligence processes from complex multi-million dollar and multi-property transactions to the more routine. The Firm’s counsel handle the legal details in perfecting the security and collateral documentation and financial obligations and covenants, so that lenders can confidently focus on growing their customer relationship.
Loan Workouts and Restructures
Eric T. Olson Law assists lending clients in working through, and out of, troubled loan situations. Effective workouts start with early collaboration with lending counsel to create a clear strategy for achievement of the lender’s repayment objectives. Eric T. Olson Law focuses on minimizing further delays and maximization of efficient recoveries in the workout negotiation with defaulted borrowers to drive forward quick resolution of the repayment and collection issues. Through well drafted loan forbearance, loan modification, and deed-in-lieu of foreclosure agreements, banking and lending clients have been assisted in getting their loan files back on track to repayment.
Foreclosure and Collection Actions
Eric T. Olson Law is experienced in pursuing recovery and collection through statutory foreclosure processes in order to efficiently recoup the collateral security of a loan. Eric T. Olson Law attorneys evaluate the situation and efficiently guide one through the collection and recovery, judicial or non-judicial foreclosure processes that makes meets the lender’s needs and objectives. This may include an expedited assembly and UCC sale, voluntary foreclosure, a non-judicial foreclosure by advertisement process or a judicial foreclosure action to preserve separate deficiency recovery actions on the indebtedness
Deed in Lieu of Foreclosure
Experienced counsel’s careful review of the specific situation and risks connected with the property securing the loan is necessary to determine if a Deed in lieu of Foreclosure is advisable and effective for a Lender. A deed in lieu transaction conveys all the risks, existing burdens, liens, encumbrances and claims that exist or can be asserted against the Mortgaged Property to the acquiring lender. Eric T.Olson Law has evaluated and handled a multitude of deed in lieu of foreclosure transactions, where it is appropriate for the lending client’s situation.
Eric T. Olson Law has guided lead banks and participant lenders through the interpretation and operation of numerous multiparty participated loan transactions. With no standardization of loan participant agreements, experienced counsel is absolutely essential to protecting the interests of a lead or participant lender in these complex contractual working relationships.