Architectural Services Firm
FF&E, Facilities Build-Out, Software and Signage
Broad Collateral Allowance
Preserved Cash/Credit Line
Deep Institutional Expertise
Complex project and vendor management included past due invoice resolution and accommodations for regulatory and year-end reporting requirements. Successful execution has resulted in establishing the client’s trust and a new Equipment Line of Credit.
Key equipment financing realities for the client included the need for broad collateral allowances and coordination of vendor invoices and payments. As most lenders would have considered the equipment as soft costs (installation, repairs, and refurbishments), Regents was able to bend on collateral since the client’s credit profile was strong. Vendor management proved challenging as well, given that many of the invoices were past due. Regents stepped in and leveraged our reputation as a reliable financing resource to work with the vendors to resolve issues and complete the project on time and within budget.
Regents’ rapid funding completed the first schedule before year-end, which improved year-end ratios. In addition, throughout the process, Regents provided numerous accommodations in documentation in order to satisfy GAAP reporting requirements as well as the client’s legal and regulatory disclosure requirements associated with being a publicly owned entity.
Working with a 100+ year old public company is both an honor and an obligation of trust for Regents. We share in our client’s positive outlook (as noted by the Executive Vice President in the recommendation below) and look forward to a long and mutually beneficial relationship for many years to come.
For many years, our company has served as a trusted resource for our customers automotive and industrial needs. Regents has in turn become a valuable resource we trust to serve our company’s equipment financing needs. As a publicly traded company operating in a highly-regulated industry, we rely heavily on Regents’ superior project management, deep institutional knowledge and structuring expertise. Regents provided legal accommodations to meet regulatory and multiple vendor requirements for financing of nontraditional assets all while delivering against demanding deadlines.
As a result of their outstanding service, we have secured an Equipment Line of Credit with Regents and look forward to long and mutually beneficial relationship for many years to come.”
George S., Executive Vice President