Sherwood M. Cleveland

Of Counsel

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“My biggest reward as a lawyer comes from handling and closing SBA loans that promote economic development and create jobs in South Carolina.”

Woody focuses his practice on banking and commercial finance, with a concentration on Small Business Administration 7(A) and 504 lending that helps established and start-up businesses secure needed funding. He has also worked extensively in special-assets litigation, workouts and debt restructuring.

His former firm, Sherwood M. Cleveland, PC, closed more than 1,000 SBA and SBA-related loans approximating $550,000,000 through his representation of two of South Carolina’s leading economic development lenders – Business Development Corporation and Certified Development Corporation – and third-party lender banks participating in the 504 program.

He holds the status of Expedited 504 Closing Attorney from the Washington, D.C. office of the U.S. Small Business Administration. He also is a Designated SBA 504 Closing Attorney through the National Association of Development Companies.

He has been listed in “Best Lawyers in America” yearly since 1993 and is co-author of the South Carolina Corporate Practice Manual (1st and 2nd Editions) published by the SC Bar Association.

In addition to serving as speaker and panelist at numerous CLE seminars on bankruptcy and corporate practice, he has spoken on the role of SBA lending in commercial, business and construction financing. He has also served as panelist at training sessions for lawyers and lenders at two annual meetings of the National Association of Development Companies.

  • South Carolina Bar, 1971
  • U.S. District Court for the District of South Carolina
  • U.S. Fourth Circuit Court of Appeals
  • Granted “Expedited 504 Closing Status” by Washington Office of the U.S. Small Business Administration
  • Certified as a “Designated SBA 504 Closing Attorney” by National Association of Development Companies

  • Davidson College, B.A. (1966)
  • Rutgers University, M.A. (1967)
  • University of South Carolina School of Law, J.D. (1971)

  • South Carolina Bar Association
  • U.S. Fourth Circuit Judicial Conference, Permanent Member
  • South Carolina Bankers Association, Associate Member
  • National Association of  Development Companies, Member
  • Business Development Corporation of SC, Board of Directors
  • Palmetto Trust, Board of Directors
  • Kershaw Health Foundation, Board of Directors

  • Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, 1993 to present
  • Martindale-Hubbel AV rating

DISCLAIMER: THE FOLLOWING EXAMPLES ARE INTENDED ONLY TO BE REPRESENTATIVE OF MR. CLEVELAND’S PRACTICE. MR. CLEVELAND IS SOLELY RESPONSIBLE FOR THIS CONTENT. THESE EXAMPLES ARE NOT INTENDED, AND CANNOT BE RELIED UPON, TO PREDICT THE RESULTS IN ANY OTHER CASE.

  • Represented Business Development Corporation of SC and Certified Development Corporation of SC and multiple bank lenders in SBA 7(A) and 504 lending programs.
  • Represented Resolution Trust Corporation (RTC) in the PTL Bankruptcy Case.
  • Represented Preferred Bondholders of Flagstar Corporation in placing Flagstar in successful Chapter 11, then the largest bankruptcy case in state history.
  • Represented large manufacturing company in litigation by bankruptcy trustee,  making legal precedent in the U.S. 4th Circuit Court of Appeals that 401k retirement plans do not become property of the bankruptcy trustee, which precedent was later upheld by the U.S. Supreme Court in a similar case.
  • Represented international oil company as co-counsel in South Carolina in its action to enjoin the SC Attorney General from invoking the state anti-takeover statute in its attempt to acquire another oil company.

  • Co-Author of South Carolina Corporate Practice Manual (1st Ed. 1989), (2nd Ed. 2005)
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