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Tag Archives: closings

COMMERCIAL FINANCE 701 — The powerless power of attorney

The long-awaited closing date on the $21.5million commercial construction loan is finally here.  Construction projects involve numerous moving parts. By the time a loan closing occurs, the out-of-pocket developer on the project awaits a hefty advance. The borrower, a Mississippi limited liability company, has two members – one of whom serves as the managing member.  The managing member is present ...

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Mississippi banks still confront headwinds others have left behind

Profits of Mississippi banks held more firmly at the outset of the nationwide banking crisis in December 2008, but today banks outside of Mississippi are out-performing those in the Magnolia State. The good news, according to banking consultant Brandon Roberts, is that earnings appear to have reached the bottom for the nation and Mississippi and are actually increasing. “However, earnings ...

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State's oldest art gallery going out of business

JACKSON — Bryant Galleries, Mississippi’s oldest commercial art gallery, will be closing its doors after 46 years in the art business and a final weekend “legacy sale.” “It’s just kind of time for me to quit,” said Doris Allen, whose late husband, Bryant Allen, opened the gallery in Jackson in 1965, and, the following year, one in New Orleans. Bryant ...

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