Tom is closing counsel and regulatory adviser to over 20 banks, various Certified Development Companies and lender services providers. He specializes in the rules and regulations with respect to SBA 7(a) and 504 matters and is certified as a Designated Attorney by the U.S. Small Business Administration.
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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 three Certified Development Companies (CDC).
- April 25, 2023Thomas L. Hofstetter to Present at the NAGGL 2023 Spring Conference
- January 25, 2023Thomas Hofstetter Will Teach "Closing and Funding the SBA Loan" to National Audience
- Aug 3, 2022Hofstetter to Present at America East Lending Conference
- Mar 11, 2022Hofstetter Presents "Fundamentals of SBA Lending"
- Aug 17, 2021Workouts and Liquidations in the Post-COVID Era
- Aug 24, 20162016 America East Conference for SBA Leaders
- Mar 30, 2021PPP Extension Act of 2021 Signed Into Law
- Dec 28, 2020Additional COVID Relief Package Signed Into Law by the President
- Oct 30, 2020SBA to Issue Loan Necessity Questionnaires to PPP Borrowers Who Received Loans of $2 Million or Greater
- Jun 8, 2020Paycheck Protection Program Flexibility Act of 2020
- May 29, 2020Applications for Loan Forgiveness under the Paycheck Protection Program
- Mar 31, 2020President Signs CARES Act into Law. Expands SBA Loan Programs to Allow for Paycheck Protection Program Loans to Assist Businesses
- Oct 6, 2022SBDC Program: Navigating the Legal Environment
- Jun 23, 2022Morris/Essex Health & Life Publishes List of "Morris County Top Lawyers 2022"
- May 4, 2021"Watch Out: Anyone Who Committed Fraud Involving PPP Loans Has Day of Reckoning Coming, Attorney Says"
- Jul 6, 2020"Morris County Top Lawyers 2020"
- Jun 25, 2018Schenck Price Participates and Sponsors MECHA Golf Outing
- Apr 22, 2014Fundamentals of SBA Lending
- February 23, 2023Legal Updates for Businesses - February 2023
- Aug 21, 2008Business Financing
- Jun 14, 2006Doctrine of Merger May Impede A Lender's Right To Collect Post Judgment Collection Expenses
- November 29, 2019Acquisition and Financing of Commercial Real Estate
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- Included on the list of Morris/Essex Health & Life magazine’s 2020, 2021 and 2022 “Top Lawyers” in Banking & Finance*
*No aspect of this advertisement has been approved by the Supreme Court of New Jersey. Click here to read Awards & Honors Methodology. -
- Presenter, "Closing and Funding the SBA 7(a) Loan," January 27, 2023
- Presenter, "Advanced Closing & Funding the SBA 7(a) Loa"
- Speaker, "Lender Preference and Pari Passu Financing," November 22, 2022
- Speaker, "Lender Preference and Pari Passu Financing," October 26, 2022
- Presenter, "Closing and Funding the SBA 7(A) Loan," September 21, 2022
- Author, "We Can Work It Out ...Or Say Goodnight!," The National Association of Government Guaranteed Lenders (NAGGL) Newsflash, July 29, 2022
- Presenter, "Closing Consciousness: Tips for Being Mindful in Your Closings Using Best Practices to Get Your Deals Closed Efficiently While Minimizing Inherent Pitfalls," American East Lending Conference, August 3-5.
- Presenter, "Fundamentals of SBA Lending," FDU Rothman's Friday Forum, "Zoom at Noon," March 11, 2022
- 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
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- 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
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- Numerous financial transactions and closings with emphasis on SBA 7(a) and 504 financings and USDA financing compliance with associate rules and regulatory
