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Factoring and Asset-Based Lending

The attorneys at Eckland & Blando provide experienced representation for businesses involved with forfaiting, factoring, and asset-based lending. We represent factors and other private lenders in these transactions.

Our attorneys have significant experience with handling complex financial matters and are skilled at negotiating, providing documentation and legal guidance with all stages of actual and potential litigation involving these matters, including litigation or lawsuits involving factoring client-debtors and account debtors.

Eckland & Blando attorneys Daniel J. Cragg and Lara Sandberg are part of a very small number of attorneys in the country to have tried a factoring agreement case to a jury; in one such factoring case winning a complete defense verdict for the factor and a judgment in excess of a million dollars on the factor’s counterclaims against the factoring agreement debtor.

Asset-Based Lending and Merchant Cash Advances

Our firm assists factors when dealing with the various aspects of these transactions, from drafting factoring agreements and related documents for the inception of the factoring relationship to providing key counsel when the factoring relationship goes south and the factor needs to take aggressive steps to protect itself from a major loss, such as terminating the factoring agreement, foreclosing on collateral, and ensuring account debtors continue to pay the factor

When merchant cash advances are used in place of traditional financing methods, there may be disputes regarding the nature of the transaction. A borrower may claim a merchant cash advance (MCA) was a traditional loan or that there was not a true sale of future receipts. Our attorneys are familiar with these issues and provide a vigorous defense based on the terms of the agreement.

These can be complex transactions facilitated by sophisticated agreements involving substantial risk, and our attorneys can help factors or other entities providing asset-based lending tools or merchant cash advances. Our experience with sophisticated financial transactions and documentation, as well as our expertise with complex litigation matters allows us to deliver cost-effective and relevant legal counsel to our clients on these matters.

Our experience litigating these agreements can also benefit our clients when with drafting or negotiating terms with a goal of avoiding needless and expensive litigation.

Contact Our Firm

Our lawyers provide experienced counsel for complex financial transactions involving forfaiting, factoring, or asset-based financing. Call our Minneapolis office at 612-236-0160.