Practice

Commercial Finance

Comprehensive Counsel for Commercial Finance

Sheppard represents banks, non-bank lenders, credit funds and private equity sponsors in structuring, documenting and enforcing commercial financing transactions.

With a pragmatic, client-first approach, we deliver the insight and experience that financial institutions and investors need to succeed in a competitive and fast-moving marketplace.

Experienced Advisors Across the Finance Market

Sheppard’s Commercial Finance lawyers are widely acknowledged for our work in real estate finance, asset-based lending, syndicated credit facilities, leveraged finance and warehouse lending.

We also have recognized strength in specialized industry finance, including gaming, tribal enterprises, healthcare, entertainment and hospitality. Our lawyers understand sector-specific lending structures and regulatory frameworks, allowing us to anticipate challenges and design practical solutions.

Clients value our responsiveness and ability to push transactions forward. We are known for taking a hands-on approach, whether drafting loan documentation, resolving intercreditor issues or stepping in to handle tasks that keep a financing deal on track. Our teams are lean, partner-driven and supported by a dedicated due diligence group, which provides fast, cost-efficient reviews of contracts and loan portfolios. We also leverage AI tools and other technology to accelerate diligence and contract analysis without sacrificing quality.

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Areas of Focus

Aircraft Finance
Our Finance team regularly structures and documents aircraft financing transactions, often in coordination with Sheppard’s Transportation industry team. We represent banks, private credit funds, leasing companies and investors in secured lending, operating leases, sale–leasebacks and portfolio transactions. With experience spanning commercial airlines, private fleets and cross-border deals, we deliver efficient, market-savvy solutions that protect client investments and support long-term growth in the aviation sector.
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Asset Based Lending
We advise on all aspects of asset-based lending, including revolving credit facilities secured by receivables, inventory, equipment and intellectual property. Our team handles complex capital structures, first/second lien arrangements and intercreditor issues. We also advise on debtor-in-possession and exit financings. With experience across industries and jurisdictions, we structure transactions that maximize collateral value, minimize risk and align with client business goals.
Data Center Finance
Our team has extensive experience in data center transactions and financing, including synthetic lease financing for multi-site projects, structuring and negotiating construction loans for large-scale facilities, and developing opco/propco structures and alternative solutions. We also advise on the purchase and construction of U.S. data centers, delivering tailored strategies for each complex matter.
Derivatives and Structured Products
Sheppard’s Derivatives and Structured Products lawyers deliver practical, cross-disciplinary counsel for banks, funds and energy companies, addressing risk management, compliance and complex transactions across asset classes. We have particular strength in energy and infrastructure and guide clients through changing market conditions and evolving regulatory requirements. 
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Gaming Finance
Our Gaming Finance lawyers advise lenders, investors, gaming companies and tribal governments on financings for casinos, hotels, resorts and related developments nationwide. We offer deep experience in both commercial and tribal sectors, navigating complex regulatory frameworks to support client growth in the highly regulated gaming industry. 
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Leveraged Finance

Sheppard advises private equity sponsors and their portfolio companies, other corporate borrowers, banks, private credit funds and other providers of debt capital on the full range of leveraged finance transactions, issues and structures—including syndicated, bilateral, and club credit facilities, leveraged buyouts, acquisition loans, leveraged recapitalizations, liability management transactions and related restructurings. 

We structure deals across industries for speed and flexibility, manage diligence and documentation efficiently and work collaboratively across practice teams for seamless delivery using cutting-edge market intelligence. Clients rely on us for practical guidance and efficient execution throughout fast-paced, evolving debt markets. 

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Private Credit
Our Private Credit lawyers excel in navigating complex credit and direct lending transactions. Representing lenders and investors globally, we craft innovative solutions for leveraged loans, special situations and alternative financing. With a business-first approach, we structure tailored deals—spanning senior debt to hybrid instruments—delivering exceptional results while prioritizing client goals and maximizing returns.
Real Estate Finance
With decades of experience, coordinated teams and advanced technology, Sheppard’s Real Estate Finance team advises banks, funds, sponsors and developers on complex transactions across all property types nationwide. We deliver innovative financing solutions with efficient execution—closing billions in deals involving distressed assets, affordable housing and high-profile projects in major urban markets.
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Syndicated Credit Facilities
Sheppard represents administrative agents, lenders and borrowers in syndicated facilities of all sizes, from secured revolving credits to international banking facilities with multijurisdictional collateral. We have deep experience managing intercreditor and subordination issues, and we understand the syndication process from start to finish. Our lawyers focus on protecting client interests while maintaining constructive relationships with co-lenders and borrowers to ensure smooth execution.
Special Situations
Our cross-disciplinary team advises lenders, investors and stakeholders on leveraged lending, special situations and alternative finance transactions. Regularly engaged by credit funds, banks and asset managers worldwide, we handle complex cross-border deals, highly tiered capital structures and unconventional terms. Our experience spans intercreditor arrangements, equity investments and emerging market assets, delivering innovative solutions for challenging financial transactions.
Specialized Industry Finance
We provide tailored counsel in industries and for asset classes where financing transactions require sector-specific knowledge, including healthcare, gaming, hospitality, affordable housing, media, retail, consumer and merchant finance, insurance commissions and tribal enterprises. Our experience with specialized regulatory and deal structures enables us to anticipate challenges and deliver practical solutions. We combine market insight with industry fluency to close transactions efficiently, whether it be a new casino development, a hospital project, a large entertainment venture or a unique receivables portfolio.
Warehouse Lending and Securitization
Sheppard advises originators, issuers, servicers, lenders and investors in warehouse financings and securitizations. We work across asset classes from mortgage loans and equipment leases to auto loans, credit card receivables, consumer loans and merchant cash advances, to name a few. Our lawyers structure borrower and issuer entities to meet market demands, and design securitization strategies that align with client goals. We are experienced in developing innovative structures for emerging asset classes, such as cryptocurrencies, as well as traditional pools, such as titling trusts for auto leases.

Experience

Clients
  • Wells Fargo Bank, N.A.
  • BofI Federal Bank
  • Comerica Bank
  • Woori Bank (Korea)
  • Bank of America N.A.
  • U.S. Bank
  • Toyota Motor Credit Corporation
  • Walker & Dunlop Commercial Property Fund
  • CIT Bank, N.A.
  • MUFG Union Bank
  • Midland Loan Services
  • LendingTree LLC
  • San Diego County Credit Union
  • Newmark Realty Capital, Inc.
  • NongHyup Bank New York Branch
  • Opus Bank
  • First Foundation, Inc.
  • Citigroup Global Markets, Inc.
  • Citicorp North America
  • Sun West Mortgage Company
  • City National Bank
  • loanDepot.com, LLC
  • Latitude Management Real Estate Investor
  • JP Morgan Chase Bank
  • General Atlantic Service Company LLC
  • Shell Point Financial
  • Pacific Mercantile Bank
  • Skyline Financial Corporation
  • Mechanics Bank
  • Bridge Bank
  • Credit Suisse Securities (USA)
  • Quadrum Group
  • Seacoast Commerce Bank
  • East West Bank
  • Los Angeles County Employees Retirement
  • Stearns Lending, Inc.
  • Marquette Business Credit, Inc.
  • Banc of California
  • Bank of China
  • Capital One, N.A.
  • The Trump Group
  • Signature Bank
  • Silicon Valley Bank
  • MasterCard International Incorporated
  • General Electric Capital Corporation
  • First-Citizens Bank & Trust Company
  • Premier Valley Bank
  • Flagstar Bank
  • Evangelical Christian Credit Union
  • Westamerica Bancorporation
  • Capital Group Companies

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