Credit memorandum
Requested revolving facility to refinance short-term obligations and fund fleet maintenance. Revenue declined 18% year over year.
Debt service coverage below policy minimum
Required 1.20×; calculated 0.78×.
Required 1.20×; calculated 0.78×.
Unresolved tax lien
Public filing indicates $418,000 outstanding.
Public filing indicates $418,000 outstanding.
Guarantor verification incomplete
Beneficial ownership documents have not been received.
Beneficial ownership documents have not been received.