Thomas L. Hofstetter co-chairs Schenck Price's Banking and Finance Practice Group and is also a member of both the Commercial Restructuring and Workouts and Corporate and Business Law Practice Groups. Tom began his career as a staff attorney at the United States Securities and Exchange Commission, served as a Counsel/Section Chief for the Federal Deposit Insurance Company (FDIC) and was General Counsel of a community bank.
Prior to joining Schenck Price in 2002, he was a partner in a well-known New Jersey law firm where he concentrated his practice in the areas of corporate transactions and lending.
In his practice today, Tom's primary industry focus is his work as a transactional corporate attorney representing institutional lenders, entities and individuals in commercial and loan transactions and regulatory matters. Financial institutions and borrowers rely on Tom’s substantial counseling experience in all aspects of lending with emphasis on government guaranteed loans, including US Small Business Administration (SBA) and US Department of Agriculture (USDA) finance transactions. He regularly assists financial institutions and borrowers with the structuring of institutional loans, compliance with financing regulations and procedures, loan closings and workouts.
Further, Tom is a closing lawyer for over 20 banks and is a designated closing counsel for a Certified Development Company (CDC).
- Included on the list of Morris/Essex Health & Life magazine’s 2020 and 2021 “Top Lawyers” in Banking & Finance*
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- Speaker, "Workouts and Liquidations in the Post-COVID Era," America East Lending Conference, August 17, 2021
- Quoted, "Watch Out: Anyone Who Committed Fraud Involving PPP Loans Has Day of Reckoning Coming, Attorney Says," ROI-NJ, May 4, 2021
- Co-author, "PPP Extension Act of 2021 Signed Into Law," March 30, 2021
- Co-author, "Additional COVID Relief Package Signed Into Law by the President," December 28, 2020
- Co-author, "Paycheck Protection Program Flexibility Act of 2020," June 8, 2020
- Co-author, "Applications for Loan Forgiveness under the Paycheck Protection Program," May 29, 2020
- Contributing author, February 2020 Legal Updates for Businesses
- Has lectured on numerous topics of interest to lenders and business establishments regarding business law and transactions as well as matters involving the United States SBA
- Member and Instructor, National Association of Government Guaranteed Lenders (NAGGL), Technical Issues Committee, Associate Member Committee; Chair, Region II Regional Liaison Committee, and 504 Lending Committee
- Member, National Association of Development Companies (NADCO)
- Member, New Jersey State Bar Association
- Member, American Bar Association
- Member, Board, Morris County Economic Development Corporation
- Past President, Normandy Improvement Beach Association, Inc.
- Director, Normandy Beach Associates, Inc.
- Chairman, Georgetown University Alumni Admissions Committee for Central New Jersey
- Instructor, National Association of Government Guaranteed Lenders
- Numerous transactions and closings with emphasis on SBA 7(a) and 504 closings