Attorney Profile

David W. Starfield

David W. Starfield

David Starfield

Starfield & Smith, P.C.
501 Office Center Drive, Suite 350
Fort Washington, PA 19034
Contact Contact David W. Starfield
T: 215-542-7070
F: 215-542-0723

Visit: www.starfieldsmith.com
Practice areas: Banking (80%), Business/Corporate (10%), Real Estate (10%)
Industry Groups: American Bar Association, National Association Of Development Companies, National Association Of Government Guaranteed Lenders

Profile

David Starfield is the Managing Partner of Starfield & Smith, P.C. a law firm in Suburban Philadelphia, Pennsylvania. He practices in the fields of banking, contracts, real estate, commercial, and corporate law. Among others, Mr. Starfield represents several business corporations, lending institutions and certified development companies, including Banco Popular North America, Bank of America, Community West Bank, Preferred Capital BIDCO, Inc., PNC Bank, Southwest Community Bank, Sovereign Bank, IDS Corporation, Susquehanna Bank, Temecula Valley Bank, United Central Bank, Unity Bank, Wells Fargo SBA Lending, U.S. Bank and Small Business Loan Source. Mr. Starfield has been helping lenders to document, close and service commercial loans for more than fifteen years. As an attorney for commercial lenders, Mr. Starfield reviews loan files; confers with loan processors and in-house counsel; drafts and edits documents; notifies in-house counsel of changes in banking regulations; and assists with transactions throughout the United States. As an attorney for several businesses, Mr. Starfield assists with corporate governance issues as well as with sales and acquisitions. Mr. Starfield has participated in numerous contract seminars, including several on SBA loan documentation. He is a contributing writer for and a member of the Board of Directors for the National Association of Government Guaranteed Lenders (NAGGL) and is a regular speaker on loan closings, documentation, franchising and legal issues associated with commercial lending. Mr. Starfield has developed the Advanced SBA Loan Documentation and Closing and Efficiency in SBA Lending courses offered by NAGGL.  Currently, he serves on NAGGL's Technical Issues and District III Liaison Committees. He is a member of the bar of the Supreme Courts of the United States, Pennsylvania and New Jersey and is a member of the American Bar Association. He is also an Affiliate Member of the National Association of Development Companies (NADCO) and is a designated closing attorney under the SBA 504 Program.  Mr. Starfield has consistently been listed as a "Super Lawyer" by Philadelphia Magazine.Mr. Starfield is a graduate of the University of Southern California School of Law, Los Angeles, California where he received a Juris Doctor degree.  

Selected to Super Lawyers

Pennsylvania Super Lawyers 2007
Pennsylvania Super Lawyers 2006
Pennsylvania Super Lawyers 2004

About David Starfield

Admitted: 1979, Pennsylvania

Professional: www.starfieldsmith.com/SITE_Attorneys_Details.asp?AttorneyID=4

Honors and Awards: David Starfield was honored as Instructor of the Year for teaching the Advanced SBA Loan Documentation & Closing and Efficiency in SBA Lending courses as well as breakout and roundtable sessions at the trade association's conferences, Instructor of the Year, National Association of Government Guaranteed Lenders, 2004
Special Licenses/Certifications: Approved closing attorney for the SBA 504 loan program
Scholarly Lectures and Writings: The law appears to permit SBA lenders to provide business acquisition financings with a term of 10 years, provided that they carefully and specifically justify their credit decisions and fully collateralize each loan, Author, Justifying Ten Year Terms on Business Acquisition Loans Under the New SOP 50 10 (5), NAGGL In Focus Newsletter, 2008, When a lender's loan defaults, the lender submits a repurchase request to the SBA's National Guarantee Purchase Center ("NGPC") in Herndon. If the submission is accurate, complete and in compliance with the SOPs, the Government typically pays the lender 75% of the loss. However, the OIG, as an independent Government watchdog for the SBA, often takes a second look at the Agency's decision. Indeed, the OIG's scrutiny is hardest when a loan defaults within eighteen months from the date of the loan's final disbursement, Author, Protecting the Guaranty and the OIG’s Role in the Repurchase Process, NAGGL In Focus Newsletter, 2008, Lecture concerned the eligibility of franchises for the SBA loan program, Speaker, Processing Franchise Loans, NAGGL Annual Conference, 2008, Facilitation of General Session on Getting the SBA to Honor its Loan Guarantee with Speakers Walter Intlekofer, Terry Settle, and John Cumbey, Speaker, Closing General Session: Getting SBA to Honor Your Guarantee, NAGGL Annual Conference, 2008
Representative Clients: Banco Popular North America, Bank of America, Community West Bank, Preferred Capital BIDCO, Inc., PNC Bank, Southwest Community Bank, Sovereign Bank, IDS Corporation, Susquehanna Bank, Temecula Valley Bank, United Central Bank, Unity Bank, Wells Fargo SBA Lending, U.S. Bank and Small Business Loan Source, 2008
Other Outstanding Achievements: Executive Committee and Board of Director for NAGGL, Instructor of the Year; assist with rewriting of government regulations
Educational Background: Alfred University, B.A., University of Southern California, J.D.

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