The Commercial Debt Counseling team has experience negotiating business debt in many industries including: Advertising Agencies, Automobile Repair Shops, Building Sub-Contractors, Commercial Property Management, Computer Software, Dentists, Doctors, Freight Transporters, General Contractors, Industrial Manufacturing, Insurance Agencies, Interior Decorators, Metal Casting, Mold Makers, Printers, Restaurants, and Retail Outlets.
The following are sample scenarios of past successful business debt settlements:
Selling a Business with outstanding debt
A business broker contacted us regarding one of his business for sale listings which was carrying approximately 200K in outstanding debt. An offer to purchase had been made and this became an extremely time sensitive issue. In a matter of 45 days we successfully negotiated the outstanding supplier debt, various loans and equipment leases including a corporate credit card debt, reducing the business owner’s debt load to approximately 85K or 42% of the original debt. At the close of escrow the seller was able to realize an improved net margin of profit.
A successful Optician with a large upscale optical center
Although his business was listed for sale with a broker, this Optician’s high amount of credit card debt, vendor debt, and equipment leases hindered its sale. The accumulative debt was approximately 300k. We successfully negotiated those debts to approximately $75K, or 25% of the original debt. This allowed him to sell his business and realize a significant profit. In addition to negotiating the business debt, we were instrumental in the Optician staying on with the new owner in a high paying position.
Successful manufacturing business severely threatened by a lawsuit
Successful designer and manufacturer of corporate promotional items was threatened with shutting down his business because of a supplier lawsuit totaling 150K. Not only were we able to successfully negotiate the lawsuit down to 7,500, 5% of the original debt, but in addition, we negotiated 300K in vendor and credit card debt, down to 100K. The owner was able to secure financing to successfully bring two new product lines to market.
Dental practice with 1.2 million in debt
Dentist owed approximately 1.2 million in equipment and credit card debt, due to the closure of one of his locations. We successfully negotiated the debt to approximately 375K and helped him obtain a new loan to pay for the settlement.
Business unable to make balloon payment on startup loan
A Chiropractors Business with a 240K SBA loan payment was unable to make the payment. We successfully negotiated the loan amount down to 60K. We additionally secured financing for the 60K payment and the business was able to make the payment and saved 180K.