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Email: lsmith@fredlaw.com
Office: 612.492.7489
Assistant: Karen Pajak, 612.492.7634
Levi represents lending institutions and borrowers in all aspects of commercial and real estate finance transactions.
Levi advises banks and other lending institutions on a variety of loan transactions and also represents private equity sponsors and corporate borrowers in commercial and real estate finance matters. He has significant experience leading all types of loan transactions, including acquisition financings, real estate loans, senior and mezzanine debt, and secured and unsecured loans. Levi is well versed in structuring, documenting, negotiating and closing complex financing transactions. He also has experience with mergers and acquisitions, corporate governance and general corporate matters.
Levi also represents cooperatives and other agribusinesses in a variety of legal matters, including corporate governance issues, financing transactions and other operational matters.
September 1, 2020
By Levi J. Smith and Marielos S. Cabrera
Despite the impact of COVID-19, it is safe to assume that LIBOR will still become unusable by the end of 2021. In preparation for the transition, the ARRC has published its recommended best practices to prepare for the anticipated discontinuation of LIBOR.
June 9, 2020
By Erin M. Byom, Marguerite J. Ahmann and Levi J. Smith
On June 5, 2020, President Trump signed into law the PPP Flexibility Act which provides for greater flexibility for both existing and new borrowers under the PPP.
May 19, 2020
By Erin M. Byom, Levi J. Smith and Caitlin B. Houlton Kuntz
On May 15, 2020, the SBA and Treasury Department released the Paycheck Protection Program (PPP) Application for borrowers to complete in order to receive PPP loan forgiveness.
April 24, 2020
By Erin M. Byom, Wendy A. Lisman, Levi J. Smith, Erik A. Splett, Marguerite J. Ahmann and Caitlin B. Houlton Kuntz
President Trump recently signed into law a bill providing additional funding for the SBA’s 7(a) Paycheck Protection Program (PPP) after the initial PPP funding of $350 billion under the CARES Act was exhausted on April 16.
April 14, 2020
By Marguerite J. Ahmann, Caitlin B. Houlton Kuntz, Levi J. Smith, Wendy A. Lisman, Erik A. Splett and Erin M. Byom
While we are still waiting for Treasury to issue additional guidance on loan forgiveness terms under the Paycheck Protection Program (PPP), here is what we know now.
April 8, 2020
By Wendy A. Lisman, Caitlin B. Houlton Kuntz, Erin M. Byom, Levi J. Smith, Marguerite J. Ahmann and Eldri L. Johnson
SBA and the Department of the Treasury have published FAQs on the PPP, which they intend to update on a regular basis. Here are some key clarifications for borrowers as of April 7, 2020.
April 8, 2020
By Erin M. Byom, Levi J. Smith and Karen L. Grandstrand
Since the passage of the Act, the Treasury Department and the SBA have issued some, albeit limited, guidance for lenders in the PPP application process. This article outlines general requirements for lenders under the CARES ACT with respect to PPP loans and addresses frequently asked questions.
April 3, 2020
By Wendy A. Lisman, Caitlin B. Houlton Kuntz, Erin M. Byom, Levi J. Smith, Marguerite J. Ahmann and Eldri L. Johnson
An Interim Final Rule was released on April 2, 2020, that provides details regarding Paycheck Protection Program established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act).
April 1, 2020
By Wendy A. Lisman, Caitlin B. Houlton Kuntz, Erin M. Byom, Levi J. Smith and Marguerite J. Ahmann
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) recently passed by the U.S. Senate and House and signed by the President creates a specific loan program through the Small Business Administration to help small businesses retain employees and pay critical expenses in this challenging time.
March 26, 2020
By Erin M. Byom and Levi J. Smith
Answers to frequently asked questions regarding the SBA Economic Injury Disaster Loans for small businesses impacted by COVID-19 in Minnesota, North Dakota and Iowa.
September 3, 2019
By Levi J. Smith and Aaron Z. Stenz
The likely end of the London Interbank Offered Rate (LIBOR) is coming soon, but many banks have not taken adequate steps to protect themselves and their clients from a seismic shift that some have labeled “the next Y2K.”
March 1, 2019
The U.K. governmental authority that publishes LIBOR may phase out LIBOR by the end of 2021. Lenders who use LIBOR will need to determine what effect the phasing out of LIBOR will have for the lender and its borrowers.
December 3, 2018
Due to recent amendments to the Delaware Limited Liability Company Act, banks and other lenders who make loans to limited liability companies (LLCs) formed in the state of Delaware should carefully review their loan documents and modify restrictive covenants related to mergers, reorganizations, acquisitions, dispositions, and similar transactions to address a newly created form of transaction called a “division.”
September 4, 2018
By Levi J. Smith & Olivia Cares
The May 11, 2018, implementation deadline for the Financial Crimes Enforcement Network’s Beneficial Ownership Rule has now passed, and there are fundamental changes in the daily customer due diligence obligations of banks and other financial institutions.
December 1, 2017
By Sjur Midness & Levi J. Smith
There are many things in life where “close enough” will work, but when it comes to filing a financing statement in a secured loan transaction, getting the name of the debtor “close enough” just won’t do.
