Harbor Olympic

The Trigger:

• Due to unfortunate circumstances with its fuel supplier, the client became non-compliant with certain loan covenants among its lenders and required assistance to retain its operations and properties.

The Project:

• The client requested Corner Capital’s assistance with a refinancing and/or restructuring of its senior term debt, to accommodate the re-opening of a number of closed dealer facilities.

The Solution:

• Corner Capital and the client negotiated a purchase of the loans from the lender as opposed to a refinancing, and Corner Capital and its partner purchased the loans from the bank.

The Result:

• The loan purchase accommodated the client’s operating plan, and provided measurable performance metrics to allow the Company to successfully execute on its strategy.