From Distressed to Profitable | Milberg Factors

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HOW FACTORING CAN BREATHE NEW LIFE INTO A STRUGGLING BUSINESS

Despite an optimistic economic outlook, there are many businesses struggling, if not closing their doors. In 2018 alone, there were 5,011 Chapter 11 filings nationwide.* When companies hit a rough patch, and profits turn to losses, many banks and other lenders grow nervous and, in certain cases, will reduce or pull credit lines. That is often the only way they know how to handle those challenging situations. Clients of Milberg Factors, Inc., a leading privately held firm focused on factoring and commercial finance, experience an altogether different borrowing relationship.

If the business owner is committed to turning things around, Milberg can be a partner in the ‘resuscitation’ of the business.

Milberg understands that just because a business faces difficulties does not mean that the business is no longer viable. The key in those situations, however, is to react quickly, identify underlying problems and address them to bring the business back to health.

Many lenders do not have the patience or the expertise to work with a struggling business to help turn them around. Milberg Factors, on the other hand, has both.

Milberg Factors is a factoring firm and asset-based lender with over 80 years of experience. Milberg serves a range of clients in the middle market, with sales as low as $5 million to larger companies with over $500 million in sales, including manufacturers, wholesalers and service providers. Milberg has worked with many companies in difficult times to help them to identify what is ailing the business and what needs to change. Then, rather than asking to exit the credit, Milberg collaborates with client companies to develop a turnaround plan and see it through. “If the business owner is committed to turning things around, Milberg can be a partner in the ‘resuscitation’ of the business,” says Daniel R. Milberg, President of Milberg Factors.

We collaborate with our clients in the restructurings. We set up regular meetings to track progress and monitor how things are progressing.

If a business has experienced a bad year or two, many traditional lenders, especially banks, are reluctant to continue a lending relationship with the borrower. In those situations, underwriters at many banks are often hard-pressed to approve requests for new loans. Yet, at Milberg Factors, we are not scared off by situations where companies have hit difficult times. With Milberg Factors as your lender, there is hope for a struggling business.

Milberg Factors understands that these “bumps in the road” can be a temporary situation. Milberg has developed a flexible model that works well for both lender and borrower — tailoring product structures to meet the needs of particular situation. Adds Daniel Milberg, “we collaborate with our clients in the restructurings. We set up regular meetings to track progress and monitor how things are progressing.”

Just because your business has lost money or is over-inventoried, we know that doesn’t need to be a permanent situation. We’ll work with you to find a way back to financial health.

– Daniel R. Milberg

 

Milberg Factors has a proven track record of working with businesses that have had to adjust to changing markets and times. 

CONTACT

For more information about Milberg Factors, Inc., please contact Daniel R. Milberg at (212) 697-4200, David M. Reza at (818) 649-7587, or Ernest B. White at (336) 714-8852, or email us at info@milbergfactors.com.

* American Bankruptcy Institute, https://www.abi.org/newsroom/bankruptcy-statistics