News + Insights

Alternatives to Registering a Security Offering

Written By B.T. Atkinson and Kristin D. Mitcham

May 20, 2022

There are many ways for a company to raise capital. Two common ways are for the principals to inject their own cash or arrange for the company to borrow it. But most banks are unwilling to lend to a company that doe…

A Summary of Bank-Related Provisions of President Biden's July 9th Executive Order Promoting Competition

Written By B.T. Atkinson and William R. Lathan, Jr.

July 12, 2021

On July 9, 2021, President Joseph R. Biden, Jr. signed an executive order "on promoting competition in the American economy" (the "Order"). The White House characterized the Order as an effort to reduce the trend of …

Faith-Based Organizations: Guidance for Eligible Paycheck Protection Program Loans

Written By Joanne H. Badr

April 13, 2020

Faith-based organizations, including houses of worship, and entities that provide services that are religious in nature, are eligible Paycheck Protection Program loan applicants as long as they meet all other requirements …

Updated Business Affiliation Rules: Key Information for Paycheck Protection Program Borrowers

Written By Joanne H. Badr

April 9, 2020

In the last few days, the Small Business Administration ("SBA") has published further guidance on the Paycheck Protection Program ("PPP") Business Affiliation Rules, which we attempt to summarize below. You can find …

Best Practices When Liquidating Real Estate-Secured SBA Loans

Written By Lance P. Martin

September 25, 2019

For several years, the United States Small Business Administration (SBA) has experienced continuous growth with its flagship 7(a) and 504 business loan programs. For fiscal year 2018, the SBA made over $24 billion i…

Money in a box with a hammer right beside a hole in a wooden floor

You Can't Play Hide-And-Go-Seek in Chapter 11

Written By Lance P. Martin

December 19, 2018

In a Chapter 11 bankruptcy, the debtor attempts to reorganize its affairs in a Chapter 11 Plan. When the debtor files its proposed Plan, it must also file a Disclosure Statement providing creditors and claimants wit…

two people pointing at a document on a desk during a negotiation

Lenders: Take a Hint! Forbearance or Modification Agreements Should Contain Specific Waiver Language To Protect Against “Regulation B” Claims

Written By Michael J. Parrish

November 9, 2018

Lenders must comply with a constantly changing series of State and Federal laws and regulations. When loan relationships sour, and lenders seek to collect, borrowers and guarantors may allege the lender has violated some …

Illustration of digital cryptocurrency with dollar bill and question marks on a black background

Should You Bank a Virtual Currency Business?

Written By Lance P. Martin

September 28, 2018

Virtual currencies like Bitcoin and Ethereum have spawned many types of businesses that need banking services. Many banks "de-risk" -- do not provide banking services -- to these businesses. Many virtual curre…

My Note and Deed of Trust Have Different Dates. Do I Have a Problem?

Written By Lance P. Martin

September 26, 2018

Consider this scenario: You loan money to a borrower. You intend to secure the loan with a deed of trust encumbering real property. Your borrower signs a promissory note dated November 7, 2006. But your …

Can I Secure a Loan with Bitcoin? Part III

Written By Lance P. Martin

May 18, 2018

In my previous articles, I discussed the challenges of using Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in virtual currency like Bitcoin, Ethereum, or Litecoin. I also discus…

Can I Secure A Loan with Bitcoin? Part II

Written By Lance P. Martin

April 6, 2018

In my previous article, I discussed the challenges of using Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in virtual currency like Bitcoin, Ethereum, or Litecoin. (I use &ldquo…

Coins with the logos of Bitcoin and Ethereum stamped on the faces

Can I Secure a Loan with Bitcoin? Part I

Written By Lance P. Martin

March 16, 2018

Each day seems to bring another story about Bitcoin, Ethereum, Litecoin, or another virtual currency. If virtual currencies continue to grow in popularity, it's only a matter of time before borrowers offer to pledge virtu…

Bankruptcy bills covering a desktop along with a smartphone and a hand typing on a calculator

New Bankruptcy Rules that Creditors Need to Know and Follow

Written By Lance P. Martin

December 11, 2017

On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and affect creditors with secured claims, unsecured claims, and judgment li…

View from above looking down on a crowd of people walking around on a white floor

Your Foreclosure Hearing Just Got More Crowded

Written By Lance P. Martin

October 9, 2017

On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section…