Case Studies

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CASE STUDY #2

Specialty Pharmacy
Owning a successful pharmacy requires a significant amount of working capital to purchase inventory and cover day-to-day expenses. So when this family-owned pharmaceutical business lost its largest customer, we knew we had to help them get back on their feet.

Client Characteristics:

Historically profitable and Cash Flowing business lost its largest customer

Unsophisticated Accounting and Finance systems

Bank was within formula but had concerns given the lack of reporting

They were unable to convert them to their ABL group

The company was in default for 18 months

Solutions

SMB provided a refinancing option after spending time with the company to understand their situation and potential path to refinancing

Negotiated multiple subordinations with key suppliers

Negotiated interim line extension with an existing banking relationship

Refinancing took 75 days from start to finish

Paid off bank whole

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