Our Commercial Finance & Lending attorneys work closely with clients to negotiate and structure loans, and, when necessary, to navigate the loan workout process. Our work with both lenders and borrowers enables us to focus on issues that truly matter to both sides of a loan transaction, resulting in efficient negotiation and cost-effective representation.

We work not only with commercial banks, finance companies, insurance companies, and other lenders, but also with business borrowers in connection with commercial lending and financing of all types, including real estate loans, asset-based lending, and equipment lease financing.

Our team has extensive experience representing parties to loan syndications; acting for parties to corporate and commercial bank lending transactions to obtain working capital and capex loans, acquisition lines, revolving credit facilities, secured and unsecured lines of credit, mezzanine loans, and more; and serving as local counsel to lenders in large international and multistate loan transactions. We represent lenders or borrowers in connection with complex real estate financings (including not only borrowings for acquisition and construction capital for retail, office, and industrial projects, but also permanent financing such as “conduit” lending for securitized real estate investments). The group has extensive experience with the Department of Housing and Urban Development (HUD), Financial Authority of Maine (FAME), the Small Business Association (SBA), Farm Credit, Rural Development, and other government-supported loan programs.

Our attorneys have served as bond counsel or borrower's counsel in connection with numerous tax-exempt bond financings in New England and across the country.

Commercial lenders for whom Verrill acts regularly as lender's counsel include Bank of America, N.A., KeyBank, N.A., People's United Bank, N.A., and Bangor Savings Bank, to name just a few.

Firm Highlights

Matter

Community Service

Portland Regional Chamber, Chair (2012-14) Trustee (2008-16; 2019- present) Portland Community Chamber of Commerce, President (2019- ) Trustee (2016-present) Maine State Chamber of Commerce, Trustee (2009 - present) Project Green Schools, Advisory Trustee (2017-present...

Event

2020 OHRP Exploratory Workshop

Health care attorney Emily Fogler will be presenting at the 2020 OHRP Exploratory Workshop in the third session, discussing sharing responsibilities and protecting participants - redefining roles in the single IRB era. Stay tuned...

Blog

IRS Issues New Guidance on CARES Act Retirement Plan Distributions and Loans

The IRS recently issued Notice 2020-50 , which expands relief provided for retirement plan distributions and loans under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Distributions Under the CARES Act, a...

Matter

Political Service

Mayor, City of Portland (2005-2006) Portland City Council (2002-2008) Portland City Council Transportation Committee, Chair (2002-2005) Jetport Master Planning Committee, Chair (2005-2007) Greater Portland Transit District, Trustee (2002-2005) Narrow Gauge Rail Alignment Committee, Chair...

Blog

Financial Institutions . . . In the News

Town & Country Federal Credit Union to host virtual money conference ( Mainebiz 6.23.2020) Connected Credit Union and Winslow Community Federal Credit Union ’s merger is effective June 27 and will be known as...

Blog

IRS Allows Tax-Advantaged Leave Donation to COVID-19 Relief Organizations

Under new guidance, the IRS will give favorable tax treatment to employees who donate leave to COVID-19 relief organizations. In IRS Notice 2020-46 , the agency announced that employees who donate paid leave for...

News

Paycheck Protection Program Focuses on Short-Term and Misses Long-Term Damages

On June 8, the Portland Press Herald published an article, "Revamped emergency loan program remains a short-term fix," discussing the Paycheck Protection Program's (PPP) extended deadlines and loosened restrictions, but lack of solutions to...

News

Verrill Welcomes Esteemed Corporate and Securities Attorney Edward Rosenthal

(June 10, 2020) – Verrill is pleased to welcome corporate and securities attorney Edward Rosenthal to the firm as a member of the Business Law Group. Rosenthal brings with him more than 40 years...

Publication/Podcast

FDA Issues Guidance on IRB Review of Non-Emergency Individual Patient Expanded Access Requests for Investigational Drugs and Biological Products to Treat COVID-19

Prompted by a substantial increase in requests for individual patient access to investigational drugs and biologics to treat COVID-19, the U.S. Food & Drug Administration (“FDA”) issued guidance on June 2, 2020 that outlines...

Publication/Podcast

PPP: How is Maine Faring?

Originally enacted on March 27, the Paycheck Protection Program (PPP) offers loan support and (potentially) loan forgiveness to qualifying small businesses – generally defined as those with not more than 500 employees. According to...