Property Type: Manufacturing Loan Amount:$1,400,000 Loan: Refinance and Expansion
Finance Challenge: The owner of a major manufacturing operation had experienced three years decline in profitability due to complications associated with an acquisition. The declining profits and weakened balance sheet precluded them from securing bank financing. New York Commercial Lending provided a loan which: (i) restructured the owner’s existing debt and (ii) provided working capital, which allowed them to return to profitability. Results: The borrower is now positioned to implement their strategic expansion plan which will allow in related areas of expertise.