Commercial Lending & Finance
Banks and other financial institutions, privately held and public companies, and nonprofit organizations rely on our commercial lending and finance team to handle a variety of complex financings and other capital structures.
Our broad experience and depth in handling loans, bonds, leases and private investments gives us the background to advise you on your options regarding financing and the structure of commercial transactions.
How we can help
- Asset-based and mortgage financing
- Bond financing and credit enhancement
- Lines of credit
- Equipment leases
- Agented and syndicated loans
- Loans for renewable energy projects
- Project and construction financing
- Investment tax credit financings
Attention to detail in negotiating a complex solar energy loan
We helped a central Massachusetts bank address a myriad of complicated real estate and organizational issues in making a multi-million dollar solar development loan involving multiple properties in several states. The transaction involved the sale and escrow of Solar Renewable Energy Certificates and the structuring of an intercreditor agreement between the lender and the tax investors. There were a number of moving parts and multiple, unforgiving deadlines.
Getting a high-stakes real estate deal done
When the developer of a significant, vacant downtown property needed a quarterback for his professional advisory team, he turned to us. We put together a complex financing structure, which included New Market Tax Credits and Historic Tax Credits for the $42 million renovation and adaptive reuse of a registered historic building. Weekly conference calls with 20 or more parties were common and we participated in drafting, negotiating and reviewing approximately 500 documents – all under the pressure of tight deadlines. The deal closed in the spring of 2015, and the former newspaper office building now serves as the campus of a community college serving Western Massachusetts.
Experience and prior relationships help a solar lending project close for a banking client
A regional bank wanted to make a loan to a real estate developer for the installation of solar panels on a low-income housing facility in Washington, D.C. There were five buildings being constructed in a project involving federal and local seed financing. Our bank client was interested in green energy lending and saw this project with this customer as a great opportunity. While the deal had unusual collateral and other complexities, we used our experience with the bank and the borrower to streamline the process and the deal closed without complication.
Refinancing a regional shipping center
We represented a local lender in a large transaction involving the refinancing of a New Hampshire shopping center. The transaction required an understanding of real estate and leasing issues as well as the usual financing complexities. We guided the transaction to a smooth closing, working cooperatively with Maine counsel on the intricate details of the transaction.
Sale of an interest in an expanding bank
As part of a recent, $63 million transaction involving a Boston-based community bank, two pension-fund shareholders in a bank holding company were required to divest their interest due to the Volcker Rule. We advised the sellers, reviewed the stock purchase agreement, helped assemble the other transaction documents, and handled the regulatory review and compliance aspects of the deal. The sale/acquisition and investment of new capital closed in the summer of 2016.
Mark Powers Writes “10 Things I know about … Silicon Valley Bank’s failure” for the Worcester Business Journal
George Tetler Writes “Advice: Silicon Valley Bank closure impact on lease security” for the Worcester Business Journal
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Events + Recordings
Press Release: Neal Pandozzi Joins Bowditch’s Business & Finance Group as Partner
22 Bowditch Attorneys Recognized in the 2023 Edition of The Best Lawyers in America® and 5 Bowditch Attorneys Recognized in Best Lawyers: Ones to Watch in America™
Bob Cox, Jane Hawkes, and David Mawhinney Named to Chambers USA 2021
Press Release: Attorney Timothy C. Monahan Elected Partner, Bowditch & Dewey