Company was asked to find new lender after existing bank was acquired. The financing was included a line of credit as well as a mortgage.
Challenge
The business had posted losses in each of the last two years and had breached various covenants under their loan agreement.
Solution
GCA was able to find a replacement lender for their line of credit and a separate source for the mortgage. Building had appreciated in value and owner was able to shore up balance sheet with additional proceeds from new mortgage.