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Best Practices for Effective Loan Closing

Get insider tips on the best practices for closing loans effectively.

Many borrowers who are obtaining financing often do not understand the terms and conditions of their loan approvals, the loan process, and how to satisfy the pre-conditions of their lender in order to obtain funding and meet their project deadlines. This topic helps borrower's counsel understand the best practices for an effective loan closing. This content also discusses how to review the terms and conditions of a borrower's financing arrangement and how to satisfy the expectations of the borrower and their lender for an effective closing. Failing to understand the terms and conditions of a borrower's financing arrangement often leads to delays in closing and many times added costs to the borrower. This topic is critical for borrower's counsel so they can ensure that the borrower is counseled on the terms and conditions of their financing arrangements and meets any and all pre-conditions to closing timely.

Runtime: 86 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Loan Commitment/Term Sheet/Loan Approval

  • Understanding Financial Terms of Transaction
  • Understanding Financial Reporting Covenants
  • Understanding Covenants
  • Understanding Restrictions
  • Understanding Collateral Requirements
  • Cross-Collateralization/Guarantee/Default

The Checklist/Pre-Conditions to Closing

  • Entity Documents
  • Title Searches/Survey
  • Licensing Requirements
  • Construction Related Documentation
  • Insurance
  • Leases
  • Miscellaneous

Loan Documentation

  • Negotiations of Loan Documents
  • Verify Consistency of Terms With Loan Commitment/Approval
  • Default Rate
  • Events of Default
  • Reporting Requirements
  • Covenants
  • Collateral Package

The Closing Table

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Heidi K. Hoffman-Shalloo

Heidi K. Hoffman-Shalloo

Schenck, Price, Smith & King LLP

  • Joined Schenck, Price, Smith & King, LLP in July 2016 as a partner in the Banking and Finance Practice Group
  • Practices as a transactional attorney and focuses on representing corporate entities and individuals in all aspects of commercial real estate, leasing, entity financing, sales and acquisition of business assets and general corporate guidance
  • Prior to joining Schenck, Price, Smith & King, LLP she was a partner and chair of the Commercial Real Estate and Commercial Lending Department at a mid-size Monmouth County law firm where she practiced for more than 17 years
  • Represented numerous lenders and borrowers in the closing of both government guaranteed and general commercial loans
  • J.D. degree, Pace University; B.S. degree, George Washington University
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400139
Published 2017
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