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In the Spotlight
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Kim concentrates her practice in the areas of commercial lending, commercial contracts and corporate law. She represents financial institutions nationwide, including national banks, community banks, credit unions and non-bank lenders, in extending commercial credit facilities to small and mid size businesses. Kim has extensive experience in the areas of government guaranteed financing, as well as business and real estate acquisition financing, lines of credit, healthcare financing and other secured and non-secured credit transactions. Kim advises lenders on eligibility, documenting and closing loans under the SBA 7(a) and 504 loan programs. As a closing attorney, she prepares commitment letters, reviews credit approval and loan files, drafts, and negotiates loan documents and coordinates closing and funding of transactions. She also assists lenders with loan modifications and loan work outs. With her experience with Article 9 of the Uniform Commercial Code and the U.S. Bankruptcy Code, Kim assists her clients in lien priority issues, intercreditor agreements, as well as creditor's rights in bankruptcy.
ADMISSIONS:
- Pennsylvania
- New Jersey
- Federal District Court for the Eastern District of PA
To read more about Kim, click here.
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FEATURED ARTICLE
Best Practices: Franchise Area Development Agreements
By: Greg T. Kupniewski, Esquire
 | | Greg T. Kupniewski, Esquire |
Last month, we identified problems with a franchisee's utilization of a management company to handle a small business' "back office" functions. Today, I will focus on the tricky nature of area development agreements when financing SBA loans.
Franchise development agreements, also known as master franchise agreements, are often found to be ineligible by SBA, primarily because they are often inherently speculative and may constitute "passive" enterprises. Development agreements typically provide the developer with a geographic area within which it may grow additional franchise units, and provide the developer royalty payment income from each franchise unit in the developer's geographic territory.
When a lender can establish that its franchisee's agreement merely contains "development rights" within a specified geographic area, however, it may be found eligible by SBA. In these circumstances, savvy lenders should identify the revenues a borrower receives from its franchise units (which may be derived from royalty payments) and compare these with revenues derived from the franchisee's business operations. The more the business relies on royalties or fees from outside franchise units, the more likely it is that the structure will be deemed ineligible. Because the eligibility determination requires the Agency's Office of General Counsel to conduct a subjective analysis of revenues and any other affiliation concerns, we recommend that, when these agreements are not on the Registry, lenders submit such agreements through standard processing.
For more information on Franchise Agreements, please contact Greg at gkupniewski@starfieldsmith.com or at 215-390-1023.
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EVENTS & SEMINARS 
Mid America Lenders Conference
Liquidation / Servicing Issues / Guaranty Purchase Process / Getting Your Guaranty Funded
Date: September 1, 2015 & September 2, 2015
Instructor: Ethan W. Smith
Location: Dallas, Texas
For more information about this event and/or to register, click here.
Closing & Funding the SBA Loan
Presented By: NAGGL
Instructor: Ethan W. Smith
Date: September 14-15, 2015
Location: Indianapolis, IN
For more information about this event and/or to register, click here.
2015 FLAGGL Conference
Presented By: Florida Association of Government Guaranteed Lenders
Date: September 16, 2015 - September 18, 2015
Location: Gaylord Palms Resort, Orlando, Florida
For more information about this event and/or to register, click here.
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Kim Hellweg / Senior Loan Closer / United Community Bank
I have had the pleasure of working with Starfield & Smith over the past 5 years and have always found them to be reliable and responsive. Whether it is just a standard SOP question or closing a loan in a very short time frame to meet a deadline for a customer, they have the expertise, experience and qualified staff needed to assist in any situation. I have confidence that they are hard at work to help assure that the loans I close are of the highest quality and closed in accordance with the SBA's SOP. I know that they are there to make sure that I am doing the best job possible for myself and for the lending firm I am working with. I have worked with many attorney firms over the years and the quality, knowledge and experience of a good firm can make a big difference in my closing - that is why I choose to work with Starfield & Smith.
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NAGGL BOARD OF DIRECTORS
VOTING HAS BEGUN
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| | David W. Starfield, Esquire |
DAVID W. STARFIELD is running for re-election to the Associate seat on the NAGGL Board of Directors and would greatly appreciate your support. His unique experience and clear contributions to NAGGL make him a strong candidate to fill this seat.
- As a NAGGL Board member, David made frequent visits to DC/Herndon advocating enhancements to SBA loan programs.
- NAGGL "Distinguished Service Award" (2012)
- SBA Financial Services Champion (Eastern PA 2009)
- NAGGL "Instructor of the Year" (past recipient)
- Technical Issues Committee (advisor)
- District III Liaison Committee (current member)
- Convention and Education Committee (past member)
- Developer, presenter and writer of numerous courses/seminars/webcasts/articles/roundtables/ breakout sessions on subjects running the gamut, from eligibility through documentation, closing, servicing, liquidation and guarantee purchase.
David would like to represent you in the battle to invigorate SBA loan programs and make them a key factor in our nation's recovery from the recession. He hopes that you will support his efforts with your vote and, in return, he will represent you to the best of his abilities.
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