Distressed Debt Clients
Medical Diagnostic Company ($65K)
A local mobile medical diagnostic company that provided monitoring services for spine and brain surgeries for hospital was in need of upgrading their old systems to help cut costs. Before working with Trinex the company’s owner had a Chapter 7 Bankruptcy that was discharged only a few years ago. After reviewing the financials for the company Trinex saw that there was promise for the business and funded $65,000 for the equipment upgrades.
Plumbing Company ($30K)
A Septic repair company out of the San Diego area was in urgent need of some funds to help cover immediate project costs. Their cash issues were compounded by an employee that was recently fired from stealing money from the company. Despite the owner’s 500 credit score and several liens, Trinex was able to utilize a backhoe and some trucks that the company owned as collateral and funded the company $30,000 within five business days.
Street Sweeping Company ($40K)
A local 15 year old street sweeping company was interested in getting some working capital to refurbish their sweepers in order to increase their useful life span. The owner’s credit was at a 550 due to liquidity problems in the past. Trinex was able to fund the company’s working capital needs by setting up a sale lease back on two of their sweepers. The client was able to get a total of $40,000 to use on their upgrades.
Towing Company ($160K)
A towing company from Southern California had recently moved to Central California. Although they had been operating for a few years, they changed their name and started a new corporation during the move. This coupled with their poor credit history made finding a bank that could finance the purchase of two used wreckers near impossible. Once Trinex was able to review all of the financials and establish the value of their assets, we were able to fund $160,000.
Transportation Company ($200K)
A hay transport company out of the Northern Central Valley in California was in need of working capital to cover their inventory cost for feed and hay. The customer had 15 years time in business and had a good clientele base but was stuck in a cycle where they weren’t able to secure the large quantities that would help them get out of hustling small orders one at a time. Because of this, the company was barely able to cover their debt obligations and cover personal expenses. As a result, the owner’s credit had suffered significantly over the years. Trinex worked with the client to understand their business and by utilizing the company trucks, Trinex funded $200,000 in working capital. Recent conversations with the client have confirmed that they are not only caught up on all their personal bills but they are also enjoying a steady clip in profits and plans to add some additional transport trucks in the near future.