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Lending and Loan Documentation

Missouri Changes Garnishment Fee

Missouri recently amended Mo. Rev. Stat. §525.230 to allow for higher fees to be charged by financial institutions in processing garnishment orders. Previously, the statute allowed a financial institution to charge a fee equal to the greater of $8 or 2% of the amount to be garnished, for the trouble and expense of processing the garnishment and paying over any garnished funds to the court.

How Small is Small?

Lenders that participate in Small Business Administration (“SBA”) loan programs should be aware that the SBA recently issued an interim final rule to increase monetary based small business size standards.  These standards are based on criteria such as receipts, assets, net worth and income.

Real estate is back. So is construction lending. Be prepared.

A bank’s commercial construction lending portfolio often covers a wide variety of projects ranging from residential developments, apartments, condominiums and hotels, to office buildings and shopping centers.  Every type of commercial construction project requires a borrower with requisite expertise and skills to construct and market the project. Accordingly, a bank’s construction lending team not only needs to believe the project is a viable one, but they must also have the requisite expertise and skill to understand if a borrower’s budget is appropriate for the project. Understanding the budget process helps to make sure that the loan will accommodate both the initial project costs as well as reasonable cost overruns.

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