It May Be Safe to Lend on Contaminated Property
If your financial institution is presented with an opportunity to lend on potentially contaminated property, running the opposite direction may not be the wisest strategy.One of my partners and I recently helped a lender-client loan money to a borrower who was purchasing a gas station/convenience store, a type of property that typically has residual contamination. The property was in fact contaminated, but it was being cleaned up by a major oil company under Department of Eco