Business deals happen every day in Miami and that means business and contract disputes can happen every day as well. Whenever these kinds of disagreements arise there may be a need for legal help for those involved. As the commercial real estate market continues to see signs of improvement, businesses and lenders may see even more need for legal council.
There’s more good news for the commercial real estate market in the South Florida area as Popular Community Bank has increased its commercial loans. The bank is showing those growth signs by originating $150 million in new commercial loans in Florida during the first three quarters of 2013. According to the bank’s VP of commercial banking operations, commercial loans of $250,000 or more have increased by 30 percent in the state to $85 million.
A lot of that increase is taking place in South Florida because that area continues to be driven by the real estate market and its related industries. The bank reports that it is also doing many commercial and industrial lines of credit, financial management for community associations and U.S. Small Business Administration-backed loans.
This is another positive sign that the commercial real estate market in Miami is still a growing sector in the state’s economy. As commercial real estate deals continue to take place there will be more of a need for legal help, including help with any deals or agreements that don’t go as planned. Whenever two entities are involved in a commercial real estate deal or any other legal business contract they might want to meet with an experienced commercial business attorney for help.
Source: South Florida Business Journal, “Popular Community Bank ramps up lending,” Brian Bandell, Nov. 26, 2013