Loan agreements are legally binding documents and anytime you’re dealing with something legal, it helps to have the backing of a corporate law firm. By doing so you can ensure that you’re not compromising your rights or agreeing to something you missed because it was “in the fine print”. It’s essential for you to protect yourself through corporate law firm representation.
It’s in the best interest of the lender to be repaid and they can’t do that in the face of foreclosure. It’s in your best interest to stay afloat financially until your business rebounds and returns to the black. A loan workout may be the best option for all parties considered. The first step is learning if your lender is open to it at all. If so, then the next step is to hire the experts of a corporate law firm to help protect you from any predatory dealings or aspects of a restructure that would hurt your business further. No one knows the law better than lawyers and you want them on your side.
This article was written by Roger Brent Hatcher, a corporate finance lawyer at Smith, Gilliam, Williams & Miles, a leading Atlanta Law Firm since 1928.