Asset-Based Lending

Practice Contacts

Michael D. Gordon
Minneapolis

Asset-Based Lending

Taft’s asset-based lending attorneys possess a keen understanding of the business objectives and unique legal issues present in asset-based lending transactions and are highly skilled and experienced in representing asset-based lenders. Our clients include national banks, regional banks, leasing companies and non-bank commercial finance companies, and we regularly represent them in direct loans, club deals and larger syndicated facilities.

As more commercial banks and commercial finance companies compete to extend credit, asset-based transactions have increased in both size and complexity. With a distinguished local practice and national presence, Taft’s Asset-Based Lending Group has a wealth of experience protecting our clients in connection with all aspects of asset-based lending, including structuring transactions, conducting due diligence, creating and perfecting security interests in all types of collateral, working out and restructuring problem credits, and enforcing creditors’ rights. Our team is highly knowledgeable about Revised Article 9 of the Uniform Commercial Code (UCC) and regularly guides clients through all aspects of its procedures and rules.

With exceptional bench strength, our business-minded team of attorneys values cost-effective solutions, striving to appropriately staff each matter. Our team seamlessly collaborates with other Taft practice groups when needed, including tax, real estate, securities, intellectual property, energy, labor and employment, ERISA, environmental and business.

Taft clients rest assured knowing that we understand the nature of asset-based lending and how to deal with both ordinary and challenging collateral types. We have done deals across a variety of industries, including electronics, finance, tobacco, petroleum (refining and distribution), heavy equipment, retail (bricks and mortar, and online), alcohol, consulting and professional services, manufacturing, automotive, software, agricultural and food products, telecommunications and transportation.

Related Practices

Notable Matters

Agent’s counsel for a national bank in connection with a $250 million working capital line of credit to large, national distributor of beer, wine and spirits.
Agent’s counsel for a national bank in connection with a $175 million working capital line of credit to large, national auto-parts wholesaler.
Agent’s counsel for a national bank in connection with a $140 million working capital line of credit to food aging, food warehousing and trade finance company.
Agent’s counsel for a national bank in connection with a $135 million working capital line of credit to telecommunications equipment wholesaler.
Agent’s counsel for a national bank in connection with a $95 million secured, syndicated revolving credit facility to a large dairy cooperative.
Agent’s counsel for a national bank in connection with a $80 million working capital line of credit to wholesaler of specialty food ingredients.
Lender’s counsel for a national bank in connection with a $75 million working capital line of credit to manufacturer and wholesale distributor of automotive aftermarket products.
Lender’s counsel for a national bank in connection with a $75 million working capital line of credit and equipment term loans to meat wholesaler.
Agent’s counsel for a national bank in connection with a $60 million capital line of credit to online retailer and financer of consumer merchandise.
Lender’s counsel for a national bank in connection with a $50 million working capital line of credit to business-to-business process-improvement provider.
Lender’s counsel for a national bank in connection with a $45 million secured revolving credit facility to a group of companies that owns and operates dozens of drug stores and pharmacies across the upper Midwest.
Lender’s counsel for a national bank in connection with a $38 million working capital line of credit to heavy road construction company.
Lender’s counsel for a national bank in connection with a $35 million working capital line of credit to distributor, blender and packager of lubricants, fuels and related fluids.
Lender’s counsel for a national bank in connection with a $30 million working capital line of credit and ESOP buy-out to precision machine and manufacturing company.
Lender’s counsel for a national bank in connection with a $30 million working capital line of credit to metals trading company.
Lender’s counsel for a national bank in connection with a $27 million working capital line of credit to wholesale fuel distributor.
Lender’s counsel for a national bank in connection with a $23 million working capital line of credit to apparel wholesaler and custom embroidery company.
Lender’s counsel for a national bank in connection with a $20 million working capital line of credit to publicly-traded online retailer of consumer goods.
Lender’s counsel for a national bank in connection with a $16 million working capital line of credit to supplier to U.S. Department of Defense and other governmental agencies.
Lender’s counsel for a national bank in connection with a $15 million working capital line of credit to automotive wiring and performance parts supplier.