How an Investment Management Business Hired a Lawyer to Draft a Commercial Loan in New York
See real project results from ContractsCounsel's legal marketplace — this project was posted by an Investment Management business in New York seeking help to draft a Commercial Loan. The client received 1 lawyer proposal with a price of $950 flat fee.
Draft
Commercial Loan
New York
Business
Investment Management
Over a week
$950 (Flat fee)
1 bid
How much does it cost to Draft a Commercial Loan in New York?
For this project, the client received 1 proposal from lawyers to draft a Commercial Loan in New York, with flat fee bids ranging from price of $950 on a flat fee. Pricing may vary based on the complexity of the legal terms, the type of service requested, and the required turnaround time.Trading Funds needed
"Very satisfied, went smooth, the lawyer (Donya) was very professional and engaged."
ContractsCounsel User
Project Description
Need help with a Commercial Loan?
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Commercial Loan
Texas
Can a commercial lender require personal guarantees from the owners of a business when granting a commercial loan?
I am a small business owner looking to secure a commercial loan to expand my operations. I have been approached by a lender who is willing to provide the loan, but they are requiring personal guarantees from all owners of the business as a condition for approval. I am hesitant to provide personal guarantees as it puts my personal assets at risk. I would like to know if it is common and legally permissible for commercial lenders to require personal guarantees in such situations, and if there are any alternatives or negotiation strategies to minimize personal liability.
Darryl S.
Personal guarantees are common for many small business loans and are often required to secure the loan. Requiring a personal guarantee is legally permissable.