This paper offers a basic overview of the commercial lending process to help legal support staff understand how all the pieces of the transaction fit together, whether acting for the borrower or the lender. Topics include commitment letters, parties, types of loans, due diligence searches, pre-funding conditions, insurance, common lender expectations, working with all parties, transmittal letters, security, and standard security documents. Practical tips are included throughout.
This paper is part of a collection presented at LESA’s Commercial Real Estate for Legal Support Staff program in Edmonton on March 10, 2020. Total running time is 51 minutes.