Given a choice, businesses will go the route of bank lending before any of the other alternatives. But what happens if a bank,
given a choice, decides they don’t want you? That’s exactly what happened when a staffing company came to AeroFund
Financial looking for a lending relationship to replace the bank relationship they were losing.
When banks want out, they want out. In this case the staffing company was given a short 30 days to find a new lender or their credit line would be cut and their account and business liquidated. The company’s first choice was to find another bank lender
to buy out the lending bank. Unfortunately, the financial deterioration of the staffing company, very low margins and the fact that the terms of sale were in excess of 90 days made it impossible to find a new lender.
Working through a financial broker, the staffing company applied to AeroFund Financial. Although the rates were higher than their present bank, AeroFund was able to save the company in the 11th hour with a new loan and buy out the existing lender. Both parties knew the relationship would be short term due to the skinny margins, but this was a necessary bridge to save the company long enough to repair their balance sheet and free up real estate assets so they could move on to a lower cost bank loan to improve margins.
Whether you are looking for a long term relationship or just need some short term cash, turn to the leader, AeroFund Financial.