Spencer Fane attorneys Brian Memory and Jacob Sparks recently published an article featured in Law360 discussing proactive measures financial institutions can take in response to adverse economic effects of the COVID-19 pandemic on such institutions and their customers.
Titled “Commercial Loan Workout Considerations For Lenders,” the article outlines options financial institutions should consider to help borrowers obtain stability while protecting the financial institution’s interests.
“When dealing with distressed borrowers, financial institutions must pursue proactive measures to assist their borrowers in finding stability and financial success, to protect the interests of the institution, and to preserve the value of the institution’s loan portfolio.”
To read the full article, please click here. Originally published on Law360.