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Podcast: The Winning Momentum Podcast with Scott Sinclair
Episode: Scott Talks With David Cohen Of Gowling WLG About Managing Your Lender When In Financial Trouble
Description: If you are facing a turnaround or restructuring, you need to actively manage your banking relationship and do everything possible to gain the support of this critical stakeholder.  From the bank’s perspective, the lending relationship starts with sales and marketing and, after the loan is made, moves to maintenance and observation. If covenants are violated, an early warning system for financial trouble, and not remedied, your loan may be moved to a special accounts group for administration and collection.  While every file is different, the approach of the special accounts group will vary from inst...