Solutions
Structured to the situation, secured by what you own.
Winncoe Capital provides senior secured, first-lien financing to lower-middle-market companies. Every facility is built around the borrower’s assets and plan — not a one-size credit box.
Asset-based revolvers
Liquidity that grows with the business.
A revolving line secured by receivables and inventory, with availability that moves with your borrowing base. We are a nationally known inventory lender and will look at inventory-only structures other lenders pass on.
Who it’s for
- Growing companies that have outrun their bank line
- Seasonal businesses with inventory build-ups
- Companies with thin or uneven cash flow but solid collateral
- Borrowers leaving a lender that has stopped paying attention
Typical uses
- Working capital and growth
- Refinancing an existing lender
- Funding inventory for new customers or channels
- Supporting a turnaround plan
What we look at
- Quality and concentration of receivables
- Inventory mix, turns and recovery value
- Reporting capability and systems
- Management’s plan and track record
Senior secured term loans
Term capital against the assets that last.
Term loans secured by machinery and equipment, real estate or enterprise value — alongside a revolver or on their own — so one lender can carry more of the capital structure.
Who it’s for
- Manufacturers and distributors with meaningful fixed assets
- Owners funding an acquisition or buyout
- Companies consolidating several lenders into one
Typical uses
- Acquisitions and recapitalizations
- Capital expenditures
- Refinancing equipment or real estate debt
- Bridging to a sale or longer-term capital
What we look at
- Appraised value of equipment and real estate
- Enterprise value and cash flow coverage
- How the term piece fits with the revolver
- Exit and repayment path
Bank participation structures
Specialty-lender flexibility at a lower blended cost.
Winncoe structures and administers the facility while a bank partner takes a senior participation. You get one lender relationship, one set of reporting, and a cost of capital closer to a bank’s.
Who it’s for
- Companies a bank wants to keep but can’t fully underwrite today
- Borrowers that need more availability than a bank alone provides
- Businesses on a path back to a conventional bank line
Typical uses
- Stretching availability without stepping up to full specialty pricing
- Keeping a local bank relationship in the deal
- Transitioning from a workout back to bankable
What we look at
- A bank partner’s appetite and hold
- Collateral coverage for both positions
- Clear reporting and intercreditor terms
- A defined path to the next stage
Special situations
Capital for companies working through a transition.
Our principals have run workouts and served as Chief Restructuring Officer. We provide restructuring financing, debtor-in-possession loans and exit facilities, in or out of court, and we understand how to move quickly when timing matters.
Who it’s for
- Companies in or approaching a restructuring
- Businesses in Chapter 11 needing DIP or exit financing
- Owners replacing a lender that is exiting the credit
Typical uses
- Debtor-in-possession financing
- Exit financing out of Chapter 11
- Forbearance takeouts and lender replacements
- Liquidity to execute an operational turnaround
What we look at
- Collateral value in a downside case
- The restructuring plan and who is running it
- Court and creditor timelines
- Stakeholder support
Collateral
What we lend against.
Accounts receivable
Commercial receivables, including concentrated and government accounts.
Inventory
Raw materials, work-in-process and finished goods — including inventory-only facilities.
Machinery & equipment
Production equipment, fleets and other hard assets.
Real estate & enterprise value
Owner-occupied real estate and enterprise-value term loans.
Tell us what you need.
A confidential first call usually takes twenty minutes. Recent financials and an A/R and inventory aging are enough to start, and term sheets are delivered quickly, on your timeline.
Daniel F. O’Rourke, Founder & Managing Member
dorourke@winncoe.com
