$8.4MM line of credit & term loan for a health care company who lost money in ’08. This 30 year old company was a profitable concern up until that, and still had a quality balance sheet. The current bank asked the company to exit and Corporate Funding sourced a replacement lender that actually increased the company’s credit availability.
$8MM factoring line for a 100 year old produce distribution company with a profitable history but had to restate their balance sheet based on GAAP restatements to balance sheet. The bank asked the company to exit and Corporate Funding sourced a specialty factor that actually increased the company’s credit availability.
$6MM real estate bridge loan for commercial rental real estate, single tenant at 75% LTV. The bank re-appraised the property and discovered they didn’t have adequate LTV, and asked the company to exit.