Loan Agreements
Whether you are financing the purchase of local real estate or managing a mid-sized multi-national business that lends to local businesses, many foreigners will eventually need assistance navigating the laws that govern how to borrow or lend money in Colombia.
Langon can assist clients in connection with a variety of commercial as well as personal loan processes including:
Commercial Loans (“Préstamos Comerciales”):
Our firm regularly handles a variety of different types of commercial lending structures including, but not limited to, residential mortgages, commercial real estate financing, equipment and leasing financing, and letters of credit.
Unsecured Personal Loans (“Préstamos Sin Garantías”):
Unsecured loans are loans where no lien is placed on the assets of the borrower as protection for lender in case the borrower fails to repay any portion of the loan.
Secured Personal Loans (“Préstamos con Garantías”):
Secured loans are loans where a lien is placed on an asset of the borrower. If the borrower fails to repay any portion of the loan the lender can seize the asset to satisfy the borrower’s loan obligations.
As part of our services, our Commercial Law Practice Group can negotiate and draft:
- Loan Agreements (“Contratos de Mutuo o Préstamo de Consumo”);
- Promissory Notes (“Pagarés”);
- mortgage Agreements (“Hipotecas”);
- Security Agreements (“Contratos de Prenda”); and
- Guaranty Agreements (“Contratos de Garantía”).