Refinancing Borrower in Special Loans

The borrower, an importer and wholesaler, had broken covenants with their existing financial institution due to a temporary loss of business and was placed in special loans. We provided a refinancing facility allowing them to stabilize operations and regain financial footing. The borrower has taken proactive measures to recover, including establishing new vendor relationships and injecting additional capital to reduce debt. With these steps in place, the borrower anticipates a steady recovery in their financial position in the coming year and plans to refinance with a financial institution.