Refinancing Strategy Helps Engineering and Manufacturing Company Regain Stability
Advisory Services
Funding Solutions
A New York-based engineering and light manufacturing company secured refinancing through a customized mortgage, line of credit, and equipment financing structure arranged by Whitman Advisory. The solution helped stabilize the business after years of operational and financial challenges.
Challenge
This engineering and light manufacturing company had experienced several difficult years, leading its existing bank to request that the business transition out of the relationship. Compounding the issue, the company faced significant challenges with its financial reporting systems and management software, making it difficult to produce reliable financial statements for lenders.
Without accurate reporting, refinancing options became increasingly limited, placing pressure on the company’s operations and long-term stability. Leadership needed time, guidance, and the right financing strategy to reposition the business successfully.
Solution
Whitman Advisory initially identified two lenders willing to structure financing primarily around the company’s owner-occupied real estate rather than its financial reporting challenges. However, those options carried higher costs that were not aligned with the company’s long-term goals.
Instead of rushing into an unfavorable structure, Whitman Advisory worked to negotiate additional time with the existing bank while helping coordinate a financial review through the company’s CPA firm. Once the financial review was completed, Whitman Advisory introduced the business to several local banking partners better suited for the company’s needs and industry profile.
The company ultimately secured a $3.1 million financing package that included a mortgage, line of credit, and equipment line of credit with terms that positioned the business for long-term stability and growth.
Outcome
With the refinancing complete, the company stabilized operations, improved its banking relationship, and regained financial flexibility. Today, the business is performing well and is positioned to continue growing with a stronger financial foundation and improved operational confidence.
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“We truly appreciate you sharing your expertise and assisting us through this deal. It was a big undertaking but we are pleased with the outcome. Thank you for all of your help along the way – we couldn’t have done it without you and your diligence.”
-Client Testimonial