Your Loan has Been Assigned to Special Assets...What Now?
In short, your loan has been classified as distressed, and your lender has decided to bring in its specialists that know how to best exit a loan. Yes, that’s right—your bank has decided to end its relationship with you, whether or not it immediately gives you a deadline for doing so.
The bank’s workout specialists already understand all their options, including their rights in a bankruptcy proceeding under federal law, assignment for the benefit of creditors (ABC) under state law, and the rights and remedies they may have under the loan agreement. They know how to push the right buttons at the right time to maximize their recovery.
Mark Hahn is a managing director and founder of Graphic Arts Advisors, a boutique strategic financial advisory and consulting firm focused exclusively on the printing, packaging, mailing, marketing services, brand management, and related graphic communications industries. With more than 35 years of graphic communications experience in the areas of finance, operations, sales, M&A, and general management, Hahn has served as chief financial officer, chief operating officer and other senior positions with several commercial printing companies, as well as founding and eventually selling his own printing company.The firm assists company owners and management, as well as their lenders, investors and shareholders in the following areas: mergers and acquisitions, sale of business, strategic and financial advisory, capital structure and funding, financial analysis, interim and turnaround C-level management, business valuations and serving as consulting experts. Hahn is the author of The Target Report and is regularly published and quoted in printing industry trade and management journals. Mark Hahn can be reached at (973) 588-7399 or mark@graphicartsadvisors.com