Buchalter recently represented Open Bank in its acquisition of Hana Small Business Lending’s SBA loan portfolio. The transaction includes the sale of approximately $105 million of SBA 7(a) loans as well as servicing rights relating to a pool of $295 million in loans. The transaction is subject to the satisfactory completion of certain due diligence requirements, purchase price adjustments at closing, and other approvals. Buchalter’s team was led by Shareholders Mark Bonenfant and Matthew Kavanaugh.
