New Debtor In Possession (DIP) Financing Program From Commercial Capital LLC helping companies in Chapter 11
December 02, 2007 (PRLEAP.COM) Business News(PRLEAP.COM) Miami, Florida - Companies undergoing Chapter 11 bankruptcy have a new financing alternative thanks to Commercial Capital LLC’s debtor in possession financing program. The program provides needed financing to companies undergoing a turnaround restructuring, providing them with the necessary liquidity to meet current obligations and capitalize on new opportunities.
“Undergoing a chapter 11 bankruptcy restructuring can be a harrowing experience for a business owner,” said Marco Terry, president of Commercial Capital LLC. “Debtor in possession financing alleviates financial pressures, increases their chances of successfully reorganizing the business and leaving the bankruptcy process as a viable company,” Terry added.
DIP financing, as debtor in possession financing often called, can be hard to obtain as few lending institutions are interested in financing insolvent companies. Commercial Capital, however, has adapted its factoring program and began offering it to companies undergoing reorganization. Due to the specialized nature of factoring, it is only offered to companies that sell to other businesses or to the government.
Factoring is usually easy to obtain and can be implemented quickly, though it requires the approval of the bankruptcy court. Furthermore, factoring easily integrates into your turnaround plan as it can help strengthen your balance sheet. Although factoring’s main benefit is turning slow paying invoices into immediate cash, it also helps strengthen your client roster by ensuring you only do business with solid customers.
About Commercial Capital LLC
Commercial Capital LLC is a leading factoring and purchase order finance company. For more information about the DIP financing program, please call (877) 300 3258 or go to http://www.ccapital.net or http://www.ccapital.net/html/debtor-in-possession-financing.html.