Practical Steps For Businesses Seeking Relief From Existing Lending Arrangements

There are a number of practical steps that businesses can take to prepare for and obtain financial assistance or support in order to resume normal operations.

A number of lenders, financial institutions and secured creditors (collectively, "Lenders") are taking proactive steps with their debtors in an attempt to normalize businesses operations impacted by COVID-19.

In this briefing, we will outline several considerations that are common among Lenders and factors which all businesses seeking relief or additional credit should be aware of.

Potential Approaches to be Taken by Lenders

COVID-19 has significantly impacted almost every industry and size of business. Lenders are likely to take steps to try and mitigate the impact on debtors in the short-term in order to allow them to stabilize their business and return to profitability.