Cash strapped, this site prep contractor was past due on equipment rental payments and had an outstanding tax lien, but they also had a significant amount of contracted future work. They needed to purchase equipment to continue operations.
The customer was under contract to work on 192 lots but was experiencing a delay in payment for work previously performed. As a result, they were past due on payments for equipment on rent from the local equipment dealer, past due on payments for financed equipment, and had some outstanding tax liens. The customer also needed money for short-term operations while they waited for their accounts receivable to pay.
They needed a lender that would:
They also needed the transactional expertise to payoff existing debt and obtain working capital to continue operation.
CCG structured a loan that accomplished the following: