Security Agreements for Private Lenders
When making a loan to a small business, you might want to ask a small business owner or start-up founder to put up collateral. A security agreement is a formal contract that secures the promissory note with the collateral. Legal Counsel, P.A. is a law firm representing private lenders in Orlando, Florida. Legal Counsel, P.A. who can help you draft a security agreement that can protect your rights should the borrower default. Being clear about the collateral being used for the loan, describing the collateral, and ensuring that the contracts are all notarized properly is essential to protecting your rights. Contact Legal Counsel, P.A., a law firm representing private lenders in Orlando, Florida. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Personal Guaranty for Private Lenders
Some businesses may not have grown to the point where they have sufficient assets to collateralize a loan. In order to secure funding for a start-up, small business, or other venture, some business owners pledge their personal assets to collateralize their loan. If you are thinking of lending money to a start-up or other small business, a personal guaranty may be the best option to protect your investment. Legal Counsel, P.A. is a law firm representing private lenders in Orlando, Florida. Legal Counsel, P.A. may be able to help you draft an enforceable, sound, and binding personal guaranty agreement. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Loan Agreements for Private Lenders
Your loan is only as strong as your loan agreement. It is important to protect yourself from issues that might arise, including non-payment. One way to do this is through collateral, through seeking a personal guaranty, and by filing a UCC-1 with the Florida UCC registry. If you are making a loan to a small business, real estate investor, or are considering lending money to a friend or to family, consider speaking to Legal Counsel, P.A. in Orlando, Florida, a law firm representing private lenders. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Subordination Agreements for Private Lenders
If you are thinking of helping a business restructure its debts, refinance its mortgages, or if you are considering helping a family member or friend with a mortgage refinance, it is important to protect your rights as a lender. Subordination agreements can ensure that your debt has priority over any other of the borrower’s debts. This might be most important to note if you are considering loaning money to someone with multiple mortgages on their property. If the borrower desires to refinance their first mortgage, but not their second mortgage, then a subordination agreement will be needed to ensure your new loan will take priority over the second mortgage post closing. Subordination agreements can protect your rights as a private lender in a variety of situations. Contact Legal Counsel, P.A., a law firm representing private lenders in Orlando, Florida, to learn more about your options and rights. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Assignment of Leases, Rents, and Profits
One way to secure a loan is through collateral. Another way private lenders might secure a loan is through assignment of leases, rents, and profits. When lending money to a small business or when lending money to a real estate investor, one way you can protect yourself against non-payment is by assigning leases, rents and profits in the event of non-payment. This contract allows you to claim rent directly from tenants if a business owner or real estate investor defaults on their loan. If you want to learn more about how you can protect your rights as a private lender, contact Legal Counsel, PA today in Orlando, Florida. Assignment of leases, rents, and profits is just one way you can protect your rights. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
UCC-1 Filings in Orlando, Florida
If a business loan is being secured with collateral, you may want to make a UCC-1 filing to formalize the loan and secure the loan with collateral. Legal Counsel, PA is a law firm representing private lenders in Orlando, Florida who can help you understand your rights and responsibilities when making private loans. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Private Lender Legal Representation in Orlando, Florida
If you are lending money to a real estate investor, small business, start up, family member, friend, or business associate, it is important to protect your rights. You want your money paid back. Legal Counsel, P.A. is a law firm representing private lenders in Orlando, Florida who can assist you with your legal contracts to protect your rights. Our firm takes the time to understand your situation, your unique needs, and will work with you to draft the contracts that can give you the most options should a borrower default. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
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