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April 28, 2021
Financial Advisor to Leading Seafood Importer
When an asset based lender’s long time borrower tripped its Fixed Charge Covenant due to the COVID-19 pandemic, the lender imposed forbearance terms requiring the company to:

  1. Engage a Financial Advisor to assist with lender discussions;
  2. Prepare a 13-week cash flow forecast, including variances; and
  3. Refinance with an alternative lender.

The lender introduced the company to Brandlin, and we were hired as Financial Advisor.

Fast & Furious Delivery
We developed a 13-week cash flow model for the international distributor within days of our engagement as Financial Advisor, including tools to inform management and the lender:

  • Actual vs. Forecast Reporting reflecting our independent analyses and the Pandemic’s impact
  • 4-week Trailing Cash Receipts and Cash Disbursement Covenant monitoring / compliance tool for the lender and borrower
  • Weekly reporting to the lender regarding cash flow-related items and refinancing efforts
Funding
Meanwhile, the company’s management was in discussions with potential new lenders.

When a prospective lender requested 4-year financial projections, the company’s CEO turned to Brandlin. We developed and presented an integrated financial model including monthly Balance Sheets, Income Statements and Statements of Cash Flow reflecting:

  • The company’s complicated inventory procurement process, including SKU balances
  • Sales channels
  • Projected monthly borrowing base availability
  • Projected monthly Fixed Charge Coverage
  • Multiple sensitivity analyses

The company successfully closed its refinancing within months of initiating our engagement. With its new financial modeling tools and capital partner, it is well-prepared to continue its long history of success.
How Can We Help You?
Brandlin & Associates is an exclusive provider of financial workouts and restructurings, forensic accounting, financial due diligence and litigation support for senior lenders, mezzanine funds, private equity groups, attorneys and middle market companies.

We pride ourselves on offering superior technical expertise, years of practical experience and unparalleled service to decipher financial and operational performance metrics. As a result, our clients are able to make informed decisions in a timely manner.