The Secured Lender October 11 - (Page 20)
AN INSIDER’S PERSPECTIVE ON SMALL-BUSINESS WORKOUTS
BY JEFFREY SWEENEY The truth about bank workouts is that there is a shortage of good execution, plenty of bad practice and some really ugly situations out there. Banks, under renewed pressure from the FDIC, are being forced to rethink some of their policies and strategies for taking nonperforming small-business loans off their balance sheets. Jeffrey Sweeney, CEO of direct lender and advisory firm US Capital Partners, LLC, explains why much of the traditional approach to workouts is outmoded and where innovative approaches can be more widely used to solve workout problems to the mutual benefit of lenders, borrowers and the market in general.
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