Seven months into the COVID-19 pandemic, concerns remain that the economy is not achieving a “V”-shaped recovery, and many businesses and industry sectors continue to struggle. Companies are understandably focused on their outstanding debt, and many business chiefs are taking a close look at their loan terms to spot any that have become problematic – or could do so in the near future. These CEOs and CFOs are starting to think about the need to talk to their lenders about possible solutions.
We have put together a video series for commercial borrowers that we hope will educate and enlighten them about that process. In it, we bring together our Financial Services attorneys who have an active lender practice with our Corporate attorneys who represent the businesses that have commercial loans. Our goal in this four-part series is to help borrowers with troubled loans better navigate the current crisis and have more effective dealings with their lenders. We believe both sides are better served by dispelling some of the myths and showing that positive outcomes truly are possible.
The series begins with a discussion of the psychology that borrowers often experience and what they can do to communicate more productively with their lenders. Next up is the mechanics of loan defaults and how banks respond to them. The series culminates with an overview of forbearance agreements, which provide a new roadmap for the borrower/lender relationship.
Thank you for joining us on this video journey!
Click on the links below to view the video series.
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