A letter of credit can be an effective tool for a business when it is required to provide additional payment security to a third party. The letter of credit is essentially a guarantee by a bank or other financial institution (called an “issuer”) to a third party (called a “beneficiary”) that it will be paid…

As we have written about extensively over the past couple years, under the federal Opportunity Zones tax incentive program (the “OZ Program”), taxpayers can defer, reduce, and eliminate capital gains taxes by timely investing capital gains proceeds into a Qualified Opportunity Fund (a “QOF”) and meeting a variety of other requirements. Several of the OZ…

In previous posts, we have summarized the SBA’s Paycheck Protection Program (“PPP”) and certain related matters, including determination of borrower eligibility and steps borrowers can take to maximize loan forgiveness Click Here To View Previous Post. Following the overwhelming demand of the first round of PPP lending and the continuing need to assist businesses that…

Key Points: Unless your company is exempt, the Corporate Transparency Act will require you to disclose the beneficial owners of your company to the government This reporting requirement will take effect upon the issuance of enabling regulations, which are to be issued no later than January 1, 2022 Newly formed entities must report beneficial ownership…

Martin LLP is pleased to announce that Ruth Karfiol Glazer has joined the firm’s corporate practice group. Ruth represents clients on matters relating to middle-market companies and their owners and investors. She counsels companies on formation, venture capital and other equity and debt financing transactions, as well as mergers and acquisitions and licensing arrangements. Ruth…

Martin LLP advises a national banking institution as agent and lender in the funding of a ~$20M senior secured term loan credit facility under the Main Street Lending Program, proceeds to refinance existing debt and fund working capital at a global provider of emotional intelligence tests, training, and products. A separate $2M revolver was closed alongside the Main Street…

Announcement  Martin LLP is pleased to announce that we have advised a national banking institution as agent and lender in the closing of a $3.5M senior secured credit facility under the Main Street Lending Program, proceeds to refinance existing debt and fund working capital at a Texas-based event center business. About the Main Street Lending…

Preparing for Potential Defaults under a Corporate Loan Agreement As the coronavirus pandemic continues to depress large swaths of the economy, many businesses continue to experience significant revenue shortfall, and in some instances cash flow has ceased entirely. Unfortunately, for corporate borrowers, this raises the specter of a default on their loan obligations as they…

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