Equipment Leasing Platform - Distressed Asset Opportunity

Looking to partner with a PE firm that does turnarounds on this. Overview: Established equipment leasing company (16+ years in operation) -Nationwide presence across 43 states -Specializes in small to mid-sized commercial equipment financing ($25K-$1M transactions) -Strong underwriting model focused on "story credits" - serving businesses banks typically pass on Financial Snapshot: -Revenue: ~$10M+ -Historical EBITDA: $5M+ range (pre-current situation) -Current portfolio: $25.5M in contractual receivables plus ~$5M in residual values Average yield: 24%+ Current Situation (Why This is Available): -$20M credit line with bank is frozen - no new originations since November -Over-advanced on borrowing base due to handful of large COVID-era defaults Bank exiting the specialty finance sector entirely -Company now in harvest mode, making quarterly payments to reduce line ~$17M in equity raised from 160+ investors needs to be addressed (9% preferred return, technically due October 2025) The Opportunity: -Underlying portfolio performing well (recent 2-year vintages solid) -Legacy issues isolated to <5 problem accounts from COVID period -Business model proven over 16 years -Founders (late 70s) motivated to transition - willing to stay 1-2 years for handoff Clear path forward: recapitalize with new credit facility, install growth-focused leadership What It Needs: - New credit facility partner - Resolution/assumption of investor equity structure - Marketing/BD leadership to scale originations back to historical levels ($16-20M/year) This is essentially a distressed asset play on a fundamentally sound business that hit a rough patch. For someone with lending relationships and appetite for the turnaround work, there's real value here. DM or email me if you're a PE firm and this fits your box, redacted