A business approached us that has just come out of two years of very difficult times but seems to have turned a corner for the better. Going into 2008 they had plenty of capital and then used that capital to pay expenses for 2008 and most of 2009. Near the end of 2009 business began to pick up and it appears that they know have over 6 months of strong cash flow and future business prospects. They own their building and have a mortgage that is less than 60% of what the property is worth. Because of the way in which their financial statements present 2008 and 2009, the bank that holds the mortgage has become very difficult to deal with and they are looking for us to help them payout the mortgage and get them a new one. At the same time, one of the principals of the business is looking to have money he put into the business paid out which would be added to the new mortgage amount.
If you would like some feedback or comments on your situation, please email dylan@bridgecap.ca or visit www.bridgecap.ca/dylan
