862 Brawley School Rd, Brawley Point, Ste. 203,
Mooresville, NC 28117
Drake Law Firm PLLC has extensive experience representing both lenders and borrowers in various types of financing and refinancing transactions. Rich Drake’s experience representing both large lenders (such as Citicorp Industrial Credit, Fifth Third Bank, Mellon Bank, and National City Bank) and smaller community lenders, as well as many individual and corporate borrowers, provides him with a deep knowledge of various types of senior, subordinated, secured, and unsecured financing transactions. The Firm is well versed in general commercial loans as well as special-purpose loans. Financing transactions that are collateralized on a senior or subordinated basis are routinely handled. The Firm has also handled a wide variety of asset-based loans and acquisition financings.
The Firm assists our clients in structuring, negotiating, documenting and closing their financing and refinancing transactions. In addition, we assist our clients with various pre-transaction efforts, such as due diligence or lender compliance inquiries, third-party waivers or contract amendments, as well as assisting them in negotiations with any other senior or subordinate lenders.
Sometimes loans don’t go as planned. Drake Law Firm, PLLC can help. Our Firm has provided assistance to many clients where individual or corporate clients and the lender have determined, sometimes with the Firm’s involvement, that the most cost-effective and productive avenue to pursue is some sort of forbearance, restructuring or workout arrangement. Such private transactions are often much more advantageous for all parties involved than the lender pursuing default remedies and collateral, or certainly the parties ending up in litigation. However, such arrangements can be complex and subject to a number of nuances and pitfalls for both parties. This is where our Firm can add great value. With our extensive experience in this area, we are well versed in providing the advice necessary to consider, negotiate, document and close an appropriate forbearance agreement if necessary to provide a period of time for the borrower to cure its default, or to put in place a more extensive restructuring or workout arrangement if appropriate.