Refinancing
Guaranteed Lending Specialists recently arranged an $8,300,000 USDA Business & Industry (B&I) Guaranteed Loan to refinance the debt secured by an established manufacturing company based in rural Oklahoma. This financing enabled the borrower – an experienced operator with many relationships in the aerospace, energy, utility, and pipeline sectors -- to take out higher cost financing that was put in place while the facility was in the midst of a turnaround. Guaranteed Lending Specialists was approached on this assignment by a local banking partner that had an existing relationship with the operator but needed to leverage Guaranteed Lending Specialists expertise with the USDA to get the deal closed in a timely manner. One of the challenges on this deal was the internally prepared financials were not clearly stated and did not accurately reflect the operating condition of the business. Guaranteed Lending Specialists brought in a trusted advisor to take a look at several years of financials to accurately restate the financial condition of the business, as well as restate a couple of years of tax returns. This not only made the borrower eligible from a financing standpoint, it strengthed the companies overall financial management and put it on a sustainable path for the future. Since that time, the company has been engaged on several assignments to build HVAC components for AI data centers and other high tech users that would not have been possible without solid accounting backstopping their manufacturing abilities.