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Tag Archives: Ben Williams

Commercial Finance 701 – Business entity selection: Choose wisely or pay later

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By Clark C. Luke The choice of entity form is perhaps one of the most confusing and difficult decisions an entrepreneur will face.  The decision will have significant implications for future taxation, personal liability, management\voting rights, ease of financing, and subsequent transfers of assets or ownership. My law partners Molly Jeffcoat Moody and Ben Williams, the regular authors of this ...

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COMMERCIAL FINANCE 701 — Participations: One loan and multiple banks

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H igh dollar projects and banks’ house limits are major drivers of commercial loan participations.  This article addresses why and how banks join together to make a single commercial loan. What is a loan participation? A loan participation is an arrangement among banks in which one bank shares part of its loan with one or more banks.  The arrangement is ...

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COMMERCIAL FINANCE 701 — Land surveys: More than just a sketch

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We suspect that most licensed surveyors never seriously considered careers in law.  Surveying is a precise business that deals in excruciating exactness.  Lawyers are masters of gray areas and debate, repeatedly uttering the tiresome phrase “on the other hand.”  Surveyors utilize relative positional precision and standard deviations in their efforts to pin down the facts.  Facts are something lawyers prefer ...

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COMMERCIAL FINANCE 701 — Loan guaranties: Skin in the game

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M any a furl-browed borrower has questioned a bank’s need for guaranties.  The borrower – excited about his can’t-miss venture – may be slightly offended that the bank even thinks a guaranty is necessary and, contradictorily, hesitant to put his net worth on the line.  Today’s bank – making loans at historically low rates but all too cognizant of several ...

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COMMERCIAL FINANCE 701 — Tax credits: key programs and select acronyms

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T ax credit programs cannot be credited with the conception of the term “acronymophobia” – an irrational fear of acronyms – but the phobic population grows with each new program.  Three popular tax credit acronyms for developers are LIHTC, NMTC and HTC. These letters represent incentive programs, which account for about $8.5 billion of annual U.S. credited federal taxes. All ...

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COMMERCIAL FINANCE 701: Basel III, HVCRE & real estate loans

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  Sitting atop the Alps, Switzerland managed to eschew both World Wars, flout the fluctuating Euro, and fleece wide-eyed tourists with opened arms.  Of late, however, the multilingual country has exported more than chocolate: from Lausanne, the controversial Iranian nuclear treaty negotiations, and, more on point for us, from Basel, Switzerland, a series of confounding financial regulations innocuously referred to ...

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COMMERCIAL FINANCE 701: Permanent loans & other oxymora

  A n oxymoron – a clever figure of speech that seemingly contradicts itself – can be pretty amusing.  Jumbo shrimp.  Postal Service. Justice Ginsburg.  Devout atheist.  Unbiased opinion. One of our favorite finance-related oxymora is PERMANENT LOANS.  Our partner Roger Williams leads an active practice group specializing in permanent loans for multifamily properties.  But don’t be duped.  Permanent loans ...

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COMMERCIAL FINANCE 701: Loans disguised as government bonds (BOANs)

EDITOR’S NOTE: Commercial Finance 701 is a continuing series on commercial loans written exclusively for the Mississippi Business Journal.  This series is geared to lenders, developers, investors and transactional attorneys. Sir Thomas More, the obstinate attorney who — literally — lost his head over religion, is often misquoted as suggesting the profession of lawyers is “to disguise matters.” Though hardly descriptive ...

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COMMERCIAL FINANCE 701: Negotiating commercial loans — Is there an app for that?

» EDITOR’S NOTE: Commercial Finance 701 is a continuing series on commercial loans written exclusively for the Mississippi Business Journal.  This series is geared to lenders, developers, investors and transactional attorneys.   This new digital world has re-wired us for instant gratification. We have no patience.  We want an “app” for everything.  Unfortunately, negotiating a commercial loan doesn’t lend itself ...

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COMMERCIAL FINANCE 701: Interest rate swaps: Don’t play with matches

EDITOR’S NOTE: Commercial Finance 701 is a continuing series on commercial loans written exclusively for the Mississippi Business Journal.  This series is geared to lenders, developers, investors and transactional attorneys. Our moms, from opposite ends of Mississippi and two decades apart, admonished us not to play with matches.  It was, and remains, good advice.  As one matures, he or she realizes ...

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