A fourth option, before you charge it off.
When an asset-heavy credit goes sideways, the file usually has three exits: workout, charge-off, or liquidation. We are the fourth — a turnaround CFO inside the borrower, producing the reporting you need and fixing the structure that broke.
The problem you actually have
A $6M trucking borrower misses a covenant. The financials arrive late and do not tie. The owner is defensive because he is frightened. Nobody on your side can answer the only question the committee cares about — when does this stop getting worse? So the file moves to special assets, the relationship sours, and a credit that was recoverable becomes a recovery exercise.
It is rarely the losses that kill these credits. It is the absence of information. A borrower who cannot produce a thirteen-week cash forecast cannot be underwritten, cannot be forborne, and cannot be trusted — regardless of whether the underlying business still works.
We become the borrower's finance function, and your counterparty.
Information
Thirteen-week cash forecast built from the bank account. Full debt stack mapped — senior, equipment notes, factoring, merchant advances, tax, guarantees. You get a picture of your collateral position that the borrower could not produce.
Structure
Re-amortization, forbearance terms, refinancing the expensive paper, replacing punishing factoring lines, unwinding advances. We sit in the calls with the borrower — and we do not ask you for things no committee would grant.
Reporting
A monthly package in the format your workout team needs, delivered on time. Unit economics by truck, crew or machine. Covenant tracking before the breach rather than after. This is what turns a workout file back into a normal credit.
Recovery, optics, and a relationship you keep.
- Higher recovery than liquidation. Equipment at auction returns orderly liquidation value at best. A stabilized operating business services debt at par.
- A counterparty who speaks credit. We came off the lending side of these facilities. You are not explaining a borrowing base to us.
- Clean optics. The file shows a borrower who engaged professional management and produced reporting, not one who went quiet.
- The relationship survives. Owners remember which bank pushed them off a cliff and which one made an introduction.
- An exit if it is unfixable. We run buy-side M&A. If the answer is a sale, we have real buyers for distressed asset-heavy companies — and a negotiated sale beats an auction.
Straight answers.
What does the bank have to do?
Make the introduction and get the borrower's consent. We take it from there. You do not carry the engagement, and you do not need to disclose anything you would not normally share with a borrower's own adviser.
What if the credit is past saving?
Then we say so, quickly, and the conversation turns to recovery. We run buy-side M&A as well, which means we have real buyers for distressed asset-heavy companies. An orderly sale to a qualified buyer beats an auction of a fleet almost every time.
How fast do you move?
A thirteen-week cash forecast and a full debt-stack map inside the first two weeks. That is usually the point at which a workout officer can tell whether the file is fixable.
Which industries?
Trucking and logistics, construction, excavation, oil & gas services, manufacturing and specialty trades. Asset-heavy, owner-operated, $2M–$50M in revenue. We do not take engagements outside that.
Have a file you are about to give up on?
Send it to us before it goes to liquidation. Fifteen minutes will tell you whether there is anything left to save.