Restaurants have been hard hit…here is a terrific workout success story

Four locations, low end dining, working class customers, a large lunch venue, previously did very well. A direct hit by the current recession, revenues are down, cost of business continues to rise…margins are slim…spells deep issues. Cannot pay debt service on $1.2 million.

A standard secured loan, not an SBA guaranty loan.

We negotiated a debt workout for $120,000. With forgiveness of the remainder. Ten cents on the dollar…..this works. Yahoo! Another small business owner saved!