Over $1.4 trillion of commercial debt will mature over the next couple of years, and two-thirds of bank commercial real-estate loans that mature between now and 2014 have unpaid principal greater than the underlying collateral.
Charlotte, NC (PRWEB) August 08, 2011
Now that the Congress has agreed to increase our nation’s debt ceiling, Covendium, the nation’s largest debtor-side commercial debt restructuring and advocacy firm urges small business owners and entrepreneurs to take a hard look at their own balance sheets and make adjustments while they still have the financial flexibility to restructure.
“It is often said that our Government should run itself like a business”, said Cody Smith, Senior Managing Director of Covendium. “And while most entrepreneurs make hard choices on their expenses, too many aren’t as focused on their balance sheet. In many instances they fear that renegotiating their debt might provoke the bank into substantially harming their credit when, with the advice and support of an experienced firm like Covendium, the opposite is true.”
Covendium has negotiated over $4.5 billion of its clients’ debts and projects another $1 billion of new debt resolutions in the 3rd Quarter of 2011.
“Over $1.4 trillion of commercial debt will mature over the next couple of years, and two-thirds of bank commercial real-estate loans that mature between now and 2014 have unpaid principal greater than the underlying collateral,” said Gregg Grauer, Chief Executive Officer of Covendium. “For the health of the company, perhaps even survival, commercial borrowers need to proactively manage their capital structure.”
“Covendium is unique in that we only accept commercial debtors as clients, and we only work with banks on behalf of our clients. In cases where there is a need for capital, Covendium does not invest in our clients – instead we provide access to a wide range of unaffiliated domestic and international investors that are specifically looking to invest in small business.”
Covendium has taken the leadership of advocating for small business and entrepreneurs to rebuild American business. For more information about Covendium’s new consulting practice, or any of Covendium’s products or services, call them at (407) 284-4000, or view them on the web at covendium.com.
Covendium specializes in comprehensive commercial debt restructuring and other solutions for clients whose financial model has been compromised by debt service payments that have become unsustainable.
For some clients, all they need is an experienced negotiator to provide their lender with the reality of the financial situation and the tool-set to restructure their obligations. For other clients, Covendium may assist in the replacement of the debt from a bank to a private funding source.
Their team of professional advisors has successfully restructured billions in transactions, with dozens of banking institutions (including major national, regional and community banks) and over 30 separate non-bank financial counterparties.
Bad things happen to good people. Covendium is a premier national debt resolution firm that helps their clients with everything from commercial foreclosure to debt management to commercial debt restructuring to private debt payment.