making banks look good to borrowers

Lerch Early attorneys help lenders provide floor plan financing to automobile and equipment dealerships and are experienced in the real estate blue sky loans that often accompany dealership acquisition and remodeling.

Our attorneys have handled billions of dollars in floor plan financing transactions for our clients. We understand that in floor plan financing, the lender’s collateral and risk exposure is different in nature. We routinely advise our clients on their due diligence requirements to enable them to analyze risks and to balance their legal and business relationship needs. Our clients benefit from our lawyers’ proactive approach to preparing and negotiating of floor plan financing loan documents, as well as subordination and intercreditor agreements with the automobile manufacturer’s financing company.

Success Stories

SBA Interim Loan

Challenge

Our bank client needed to quickly close on an acquisition loan arising out of a bankruptcy sale, but SBA approval for the loan did not reach the bank before the deadline for the sale.

Strategy

Lerch Early assisted in structuring and documenting an interim loan in a couple of days to ensure the borrower did not lose its opportunity to purchase the property. Once the SBA approval was received and conditions for the SBA funding were met, we documented the SBA loan to take out the interim bank financing.

Result

The client was able to provide its borrower with the opportunities arising out of the bankruptcy sale while protecting its own interest.

Insights