COMMUNICATING WITH YOUR BANK
Adverse Information to Report or Breach of Lending Covenant?
With commercial lending it is normal for a financial institution to put loan covenants in place which need to be satisfied at the loan review date. These covenants may include evidence that the ATO obligations are up to date, provision of up to date financials or revaluation of security.
When there is adverse information to report at review time many business owners strike unchartered waters because they don't know how best to communicate with their Bank in these situations.
When a potentially difficult situation arises, either at review time or due to a significant event impacting negatively on the business, de Jonge Read can assist with bank review preparation and handling communications with financial institutions. We have over a decade of success in keeping financial institutions at bay with sensible and commercial workouts.