We make loan closings easy for you and your borrower.
At Lawyers Escrow Company, our specialty is small business transactions. We know what buyers and sellers need to legally transfer a business, and we work as a neutral third party to bring a business sale to closing.
Our expertise can also help when you need to close an SBA loan. We will coordinate the closing with all parties. You can either conduct your loan closing when the business transaction closes, or send us your lender instructions and loan documents, which we will have signed and notarized. We will collect your fees on our settlement statements, and disburse funds as instructed.
Five advantages to working with Lawyers Escrow Company:
Combined loan and transaction closing. We will close your loan when the business transaction closes, making the loan closing easy and convenient for all parties involved.
Loan coordination. We will review your SBA Authorization to ensure the proper equity injection is collected when the transaction closes. We will also coordinate with you or your counsel to detail and collect all necessary fees and closing costs on the buyer’s settlement statement.
Real estate services. If real estate is included in the transaction, we can coordinate the title insurance policy, the survey, and any additional items required. Our escrow attorney will also prepare the warranty deed to transfer the real property, and obtain a real property tax certificate to prorate or pay off any required taxes on the real estate.
Document coordination and drafting. We will prepare the documentation required to transfer the business as part of our standard business transaction services, and will provide you with any documents you need to complete your files. We also notarize and execute your provided loan documents while the required parties are at the closing table.
Post-closing services. We will collect, disburse, and overnight all third-party loan fees directly to the payees as instructed, including the lender, the lender’s attorney, and the loan packager, following the receipt of funding. We will also coordinate and pay any liens against the business from the funding, and file formal UCC terminations to ensure the lender holds the first lien position for their loan.
When you work with Lawyers Escrow Company on your SBA loan closings, we will work to make your job easier.