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Loeb & Loeb
“I loved how you took the law and made it work in a business sense. It wasn’t just going to trial and fighting in court,” Cohen says. “It was so much more. It brought it to the forefront for me.”
When it came time to turn her education into a career, Cohen made sure she picked a firm and a position that fit her interests, which isn’t always afforded to every new lawyer.
Finding a Path
“I took the position because I was guaranteed that I would be on the business side of transactions, whether it be bankruptcy, litigation or corporate.” Cohen says.
“I realized every transaction was different. In order to be a good lawyer in this space, you need to understand what role you play,” Cohen says. “Are you representing the lender? Are you representing the borrower? What kind of transaction is it? Is it true ABL? Is it cash flow? Is it secured? Is it unsecured?”
Just as Cohen’s career has changed, so has the ABL industry, particularly with its increased speed and a shift toward more intellectual property and brand-driven forms of lending in the United States as more manufacturing has gone overseas. However, as much as she’s been forced to adapt to an evolving landscape, Cohen still feels that the fundamentals of the ‘unique’ ABL product remain.
Blazing a Trail
“Women need to support women and women need to take other women and mentor them. They need to provide business to these women because as women, if we don’t support other women, it’s just not going to grow,” Cohen says. “I’m very proud of the fact that ABL now has a lot more women involved and I think that growth needs to continue.”
Just understanding the mechanics of ABL isn’t all that makes Cohen a standout in her field. She has also found success by being responsive, understanding credit, effectively planning exit strategies in advance and, most importantly, listening to and understanding the perspectives of each party in a transaction.
With such an effective arsenal of skills at her disposal, Cohen has been a trailblazer when it comes to unique lending models, including lending against IP and to non-traditional industries for ABL like cannabis, music and even performing arts.
After 36 years in commercial finance law, Cohen, who was named the 2022 Women’s Division Executive of the Year by the New York Institute of Credit, has the varied experience that makes her an ideal teacher for the next generation, a responsibility she takes to heart. Cohen provides mentorship to younger colleagues, is active in Loeb & Loeb’s internal women’s group and plays a role during the interview process when onboarding new hires.
Of all the lessons Cohen would like to impart to the next generation, the most important is understanding how crucial it is to be creative to solve a problem rather than letting it stop a deal in its tracks.
“I look at every transaction as a puzzle and you need to put the puzzle together to get to the end result that works for all parties,” Cohen says. “I hope my legacy is that I’ve made that effort to figure out a solution to the problem at hand. Instead of just saying, no, I’ve taken the other approach and asked what can we do to try to make this work.”
