In Business Since: 2008

Second Wind conducts balance sheet and entity reorganizations under Article 9. By pre-packaging debtor consent to secured party sales, we resolve distressed assets of all subordinate liens and liabilities so ABLs can originate (or be financed out of) credits, despite previously existing sub-debt on the balance sheet. Business operations are re-launched in new operating entities with new, clean balance sheets in 60-90 days.

ABLs can underwrite based on underlying asset value only, without regard to sub-debt weighing down coverage ratios, and without needing to refinance out sub-debt, such as MCAs.

ABLs can also exit underperforming credits without the inefficiency or reputational risk of formal liquidation, recovering full asset value as part of a going-concern transaction.