Summary
A manufacturer and installer in the construction industry was not in compliance with the existing lenders covenants triggering a transfer to Special Loans. Additional funds were required to help the client with growing their foreign business consisting of a very strong pipeline.
Our Solution
Plan a solution and execute successfully by:
- Completing a comprehensive analysis of the company’s risk profile, asset base, projections and borrowing base
- Approaching lenders with a loan proposal that requests additional funding and provides a strong security structure
- Assisting the client with dealing with the Special loans department to ensure smooth operations
- Executing a successful transition to the new lender
Impact
- Forbes was able to secure a 75% increase in financing from the existing level and transfer the client to a new lenders within 60 days
- The client was able to take on new and larger orders with the additional capital and grow the business
- Avoid major disruption to the business by quickly exiting the Special Loans department of the old lender which was not willing to lend additional capital
