Originally published in ABL Advisor. Policy change by SBA to exclude MCA obligations from refinancing eligibility has created a crisis for small businesses trapped in high-cost debt. This void presents a significant opportunity for the private lending and secured finance ecosystem to step and offer a path to credit rehabilitation. Main Street’s debt crisis isn’t…
Written by Robert DiNozzi, originally published in ABFJournal. Economic nationalism has proven durable across administrations. For lenders, the real story isn’t politics but the financial strain: eroded borrower margins, unpredictable collateral values, and balance sheets stretched thin by policy-driven shocks. Tariffs first reemerged as a centerpiece of U.S. trade policy during the Trump administration in…
This article was originally published in the September 2024 issue of the Turnaround Management Association’s Journal of Corporate Renewal. When the Article 9 asset sale is pre-packaged with debtor consent to a going-concern transaction, the previously humble liquidation mechanism becomes a pragmatic out-of-court restructuring tool, prioritizing the interests and recovery value of senior secured creditors…
By Robert DiNozzi, originally published in Journal of Corporate Renewal on October 6, 2025. In 2023, Namco Pool & Spa was on the brink of financial failure—overleveraged, burdened by nonperforming leases and facing a liquidity crisis. Bankruptcy would have wiped out key investments, strained customer and supplier relationships and drained resources in protracted proceedings….
Originally posted in ABFJournal | Written by Robert DiNozzi, Kevin McGarry, Entela Semini and Aaron Todrin Article 9 of the Uniform Commercial Code is a transactional tool that allows asset-based lenders to bolster business development and mitigate risk and/or loss. It is a holistic and pragmatic out-of-court reorganization approach for extracting value from distressed businesses. An Article 9 reorganization…
The story of Heavy Duty Radiator (now JMP Industries) is one of resilience, turnaround and reinvention. It is a story that was made possible through an Article 9 Restructuring, creative financing solutions, and a hands-on approach with critical contractors. Once on the brink of failure and liquidation, Heavy Duty Radiator was able to shed its…
The story of Heavy Duty Radiator (now JMP Industries) is one of resilience, turnaround and reinvention. It is a story that was made possible through an Article 9 Restructuring, creative financing solutions, and a hands-on approach with critical contractors. Once on the brink of failure and liquidation, Heavy Duty Radiator was able to shed its…
Originally posted in ABFJournal | Written by Robert DiNozzi, Chief Growth Officer, Second Wind Consultants Handaband USA was a thriving business in the oil and gas market in Texas until unpredictable fuel prices made it difficult to sustain its growth. This is the story of how its previous lender (Crestmark), an Article 9 reorganization, its current owner…
Originally posted in ABFJournal | Written by Robert DiNozzi, Chief Growth Officer, Second Wind Consultants For decades, private equity investors have taken distressed assets through a process to divorce them from subordinate liens. An analogous, lender-initiated process (the UCC Article 9 reorganization) clears up the traditional bottleneck in bank-to-ABL transitions, ultimately leading to the next evolution of the take-out relationship….
Originally published in ABF Journal. Second Wind Consultants facilitated Logan Fund’s purchase of a distressed note at $2 million par from BOK Financial. BOK Financial will exit from a lending relationship with a printed circuit board assembly company that has 60 employees. Second Wind Consultants reorganized the printed circuit board assembly company’s business through a UCC Article 9…
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