Banking and Finance
As a result of working with and for the fastest growing central Illinois banks, we are very familiar with banking laws and procedure. We generally can give same-day answers to bank-related questions and have been involved in numerous cases relating to Illinois banking law, including extensive experience with foreclosures and collections.
Banking issues are more important to small businesses than many realize. Frequently, small business owners figure that because they are incorporated, they have no personal liability for their business debts. They often fail to understand the significance of personal guarantees and second mortgages on their homes that many banks require in exchange for credit extensions. We make sure our clients understand the contents of every document they sign in exchange for credit.
We also prepare commercial instruments and can assist clients with drafting the corporate documents typically required by banks upon the extension of credit. These items can include directors resolutions authorizing the borrowing, secretaries’ certificates, and shareholder documentation.