Seven Questions You Should Ask When Considering a Commercial Loan Workout
Don’t let the coming opportunities to get bargain deals pass you by!
“Experience is that marvelous thing that enable you to recognize a mistake when you make it again.” – Franklin Jones
Of course, the least painful way to gain experience is from other people who’ve made the mistakes – or make their living correcting them. So even if you don’t have a troubled commercial loan now, you’d be wise to know what to look out for if and when you find yourself signing for a commercial loan somewhere down the road.
The entire realm of “loan workouts” is surrounded by confusion and abuse. It’s sad how malicious opportunists take advantage of desperate people who find themselves in a bad spot. And then there’s the well-intentioned entrepreneurs who jumped into the business, but really didn’t know what they were doing. The point is that you can’t afford to be ignorant when taking on the lawyers, accountants and negotiators representing the lender – or when hiring someone to help you.
This special report by our friends at Breakwater Equity Partners is intended to open your eyes to the what, why and how of commercial loan workouts.