Practice/Industry Group Overview
From a $1 million unsecured loan to a complex cross-border, agented, multilender transaction in Europe to a synthetic collateralized debt obligation vehicle comprised of $1 billion notional amount of credit default swaps, Duane Morris' Commercial Finance Practice provides regional, national and international experience and representation to a broad spectrum of financial institutions, including commercial banks, insurance and finance companies, investment banks and asset managers.
The commercial financial services area is highly competitive. Whether the client is an individual or a significant corporation, our hallmark is responsive service and an insightful, creative and flexible approach to documentation.
With offices in most major U.S. markets and in London, we can provide the level of coverage and experience needed in matters for all of our clients, such as syndicated loan transactions, agented multilender transactions, multibank club transactions, mezzanine financing, individual secured and unsecured commercial loans of all sizes, real estate acquisition and construction loans and securitizations of virtually every type.
We often work closely with other Duane Morris practice groups such as corporate, municipal finance, affordable housing, real estate, reorganization and tax to assist our clients in solving problems. In addition, our lawyers frequently coordinate their work with that of our clients' government relations consultants, including Duane Morris' affiliate Duane Morris Government Strategies.
Service Scope and Capabilities
Our Commercial Finance Practice lawyers are experienced in assisting clients in a broad range of needs, including:
- Acquisitions and sales of residential and commercial mortgage pools and/or servicing rights
- Asset-based lending
- Construction and permanent loans for developers and owners of hotels, shopping centers and other commercial real estate projects
- Due diligence review and sampling of pooled assets to evaluate quality control, compliance with applicable agency or investor standards and federal and state regulatory review
- Financing of condominium projects and residential tract developments
- Healthcare finance
- HUD and other federal and state loan programs
- Letters of credit supporting bond issues for nonprofit and for-profit companies
- Loans to nonprofit and educational institutions
- Loans to venture companies, including perfecting liens against intellectual property
- Loans secured by investment property of all types
- Loans to the communications industry, including cable television, paging and telephone companies that involve FCC licensing issues and franchising issues
- Loans secured by aircraft and ship mortgages, floor plan financing and purchase money security interest financing
- Mezzanine financing by insurance companies and their related entities
- Loans to borrowers in multistate or multinational businesses
- Loans to retail franchisees
- Mortgage warehouse financing
- Public and private financing of affordable housing
- Residential mortgage licensure and compliance review
- Structured finance and securitizations of various types of assets, including synthetic collateralized debt obligations.
The Commercial Finance Practice Group is involved in financings of stock and commercial real estate acquisitions as well as securitizations of same. Our lawyers also document the restructuring of troubled loans and companies both in and out of bankruptcy.
The Difference is in Our Approach
Given the nature of the commercial finance area and the time pressures typically involved, our Group approaches each client matter with appreciation for the many goals of our clients, and can provide:
- Transaction Structuring Advice - advising the client on structures, including those that may reduce its customers' or its own costs or that may increase the likelihood of obtaining the desired rating from a rating agency
- Document Production - producing clear, concise and complete documents within the time requirements and incorporating recent developments in relevant law and practice
- Due Diligence Assistance - assisting the client in this process, including creating a checklist to help evaluate the potential transaction risks
- Transaction Facilitation - assisting in the transaction and the various relationships through responsiveness and cooperation with the relevant parties and their respective counsel during documentation and the closing process
- Project Management - providing cost-effective service by closely monitoring time and costs and adhering to the client's guidelines and deadlines
- Post-Closing Services - rendering necessary services, including handling all security interest filings
Duane Morris lawyers in the Group typically work in teams in order to complete work quickly, as is often required in larger transactions. With an extensive library of compliant transaction documents drafted by Duane Morris lawyers, we have been able to meet tight schedules. In some cases, we have produced initial drafts on a same-day basis.
ABN AMRO, American National Bank and Trust Company of Chicago, Bryn Mawr Trust Company, Cole Taylor Bank, Corus Bank, Fifth Third National Bank, First Bank and Trust Company of Illinois, LaSalle Bank National Association, M&T Bank, Mellon Bank, N.A., National Bancorp, Inc., National Penn Bank, New Century Bank, Northern Trust Company, People's Bank, PNC Bank, National Association, Progress Bank, Sovereign Bank, Universal American Mortgage Company, Wachovia Bank, National Association, Washington Mutual Bank S.A., Wilmington Trust Company, Foothill Capital Corporation, GE Capital, McCaughan Mortgage Company, Inc., TJ&W Residential Inc., Transolver Financial Services, Vauxhall Finance