Client had a 21 year banking relationship with Huntington bank. Only to be notified that the bank called their line of credit due to late receivables. Under a tight deadline, the client had to find a solution to refinance the bank before they foreclosed.
- Secured $2.5M in sales based financing to replace the bank’s line of credit
- Subordinated the SBA in order to make way for an asset based facility.
- Secured $5M asset based lending facility to replace the bank.
- Client was able to smoothly transition back to a normal borrowing base.
- Recapitalized the entire debt stack of the business
- Helped transition from one financing solution to another
- Preserved ongoing operations and avoided disruption in sales
- Client used the new asset based facility to finance new purchase orders
- Stabilized the business, and in early 2026, transitioned the client back to bank financing.
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