Nick C. Jellum

Shareholder & President

“Every day, I see firsthand the positive impact that SBA lending has, not only for our lender clients but for the business owners and communities they serve.”

About

Nick began his legal career at this very law firm, then a small firm called Anastasi and Associates. One of the early cases in his career involved a complex SBA loan fraud. As he learned more about the SBA lending programs, Nick began attending SBA lending conferences and building his knowledge and experience into this specialized area of law. Nick is currently a Shareholder and the President of Jellum Law, and has continued to represent commercial and SBA lenders for over two decades.

Nick is a nationally recognized speaker and instructor in the SBA and commercial lending industries, and is a frequent speaker for lending organizations and SBA lending conferences.
Nick provides guidance to financial institutions and small-business lenders in all aspects of SBA and commercial loan documentation, liquidations, litigation and regulatory matters.

With his career long focus on the SBA lending programs, Nick has helped to establish the national reputation of Jellum Law as a premier law firm in this expanding, ever-changing and important area of law. Now a powerhouse legal firm specializing in SBA lending for clients coast to coast, Nick continues building his legacy by preparing the next generation of attorneys to excel in this exponentially growing area of expertise.

Nick lives with his wife Annie, poodle Ruby and cats Mucci and Louis. He’s an avid golfer, foodie, college basketball fan (Go Gophers!) and scuba diving enthusiast.

Credentials

EDUCATION

Minnesota State University – Moorhead, B.S., Finance, magna cum laude
William Mitchell College of Law, J.D.

LICENSED IN

Minnesota
U.S. District Court, District of Minnesota
Illinois

Associations

Minnesota State Bar Association (MSBA) (Member, 2003 – Present)
Ramsey County Bar Association (RCBA) (Member, 2003 – Present; Youth and the Law Committee; Charity Golf Tournament Committee, Co-Chair 2010, 2011)
Independent Community Bankers of Minnesota (ICBM) (Legislative Committee, 2009 – Present)
Minnesota Bankers Association (MBA), (2003 – Present)
Courage Kenny– St. Croix (Advisory Board, 2010 – 2015)
Courage Kenny Foundation (Board Member, 2013 – 2015)
SPEDCO Minnesota-based SBA 504 Certified Development Company (Board of Directors, 2015- 2018)
Be The Match – National Marrow Donor Program (Board of Ambassadors, 2017- Present)

Presentations

  • Commercial Lending and Finance Law: The Ultimate Guide
  • SBA Loan Defaults, Workouts and Liquidations
  • SBA 7(a) SOP Changes
  • SBA Franchise Lending
  • Advantage of Engaging Lender Service Providers
  • Collateral Valuation Practices and Tips
  • SBA 7(a) Debt Refinancing
  • Legal Risk Factors Faced by Lenders
  • Best Practices When Hiring an LSP or Broker
  • SBA Affiliation Rules
  • SBA Franchise Rules
  • SBA Credit Elsewhere Rules
  • SBA Financing for Ownership Changes
  • SBA Equity Injection
  • SBA Loan Closing: Proper Documentation & Pitfalls
  • Developing Litigation and Liquidation Plans
  • SBA 7(a) Loan Underwriting and Credit Memo
  • UCC-1 Filing and Perfection
  • SBA 7(a) Loan Closing Best Practices
  • SBA 7(a) Large Loan Liquidation: Understanding the Liquidation and Guarantee Purchase Process
  • SBA Lending
  • Change of Ownership
  • Business Entity Organizations and Trusts in Minnesota
  • Business Entity Organizations Non-Minnesota
  • Authorized Signers in Minnesota
  • Powers of Attorney
  • Best Practices for Documenting Equity Injections
  • Current Issues Impacting Agents and LSPs
  • Franchise Lending
  • SBA Franchise Lending
  • UCC Lien Perfection and Lien Priorities
  • Franchise Agreement Review 101

Contact Me

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