Beware loans that require you to allow lender excessive control and thereby jeopardize your business control. Most loans require pledging assets greater in value than the loan amount. Be sure to use substitution of collateral and commitments for permanent financing flexibility. Avoid performance or discretion based determinations of secured loans, perhaps any debt, being “called.”
Be aware that secured assets can be used to help you if you are a lender to your business. You can and should want to stand in the same shoes as an outside lender would, and that usually means heavily secured assets.
Our experienced Philadelphia business lawyer is prepared to handle your case with the attention it deserves. Contact our office today to discuss your case.