Solas Finance provides banks and other lenders with an alternative exit strategy for resolving problem loans. We purchase loans at a discount and where possible work with the borrower to try to restructure the loan. Banks and/or borrowers can contact us to become the “substitute” lender and take advantage of our team’s extensive experience in maximizing asset value in financially challenged corporations through financial restructuring as well as our thorough our experience with the collection, foreclosure and bankruptcy process.
The Solas Finance team has extensive experience in originating, purchasing and resolving loans. We are looking for opportunities in the secondary market for trading debt instruments. We concentrate in the area of commercial and industrial assets as well as residential mortgage portfolios. We have an interest in the so-called “special loans”, i.e. sub-performing and non-performing portfolios.
Benefits associated with loan sales include: (i) immediate and certain resolution instead of a sometimes lengthy liquidation process, (ii) non-productive capital is converted to cash, (iii) reduction of exposure to a specific borrower or industry, (iv) minimization of collection cost and (v) maximization of asset value (Solas Finance will generally look at the borrower as a “going-concern” as opposed to a liquidation scenario)
Solas Finance will purchase both Single Assets and Portfolios.