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Veritas Closes $3MM DIP Loan for Equipment Rental and Services Company

January 27, 2016, 07:50 AM
Filed Under: Bankruptcy

Veritas Financial Partners has completed a $3 million debtor-in-possession financing for an equipment rental and services company to support its recapitalization in the face of challenging industry conditions. The facility will be used to repay the existing lender and for working capital needs during reorganization.

During the course of the transaction, Veritas provided significant value to the borrower through its leadership role in understanding the borrower’s business and challenges, the industry in which the borrower competes, creating consensus among various pre-petition parties, and expeditiously funding the facility where others could not.

Veritas Financial Partners is a specialty finance firm that provides $2 million to $15 million senior secured credit solutions to businesses across various industries. Veritas serves entrepreneurs and private equity sponsors by delivering the flexible, responsive capital needed to achieve their goals. As an affiliate of an investment fund with $2 billion in assets under management, Veritas benefits from a substantial long term capital base.

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