NEW YORK--(BUSINESS WIRE)--Clearcove Advisors, a capital markets advisory firm, unveils “Clearcove MSLP Solutions”, a specialty coverage group dedicated to helping Main Street borrowers refinance their debt. Leveraging a global network of bank and non-bank investors, Clearcove offers a turn-key service to businesses seeking an exit from the facility.
Loans offered through the Federal Reserve’s Main Street Lending Program require a 15% principal payment in 2024 and are set to mature in the second half of 2025. With these obligations on the horizon, many borrowers have initiated conversations regarding their plans to refinance.
Congressman Jeb Hensarling (Retired), former Chairman of the House Financial Services Committee and Senior Advisor to Clearcove, stated, “Under current law, MSLP loans cannot be forgiven and I see no appetite in Congress to amend that. Coupled with the fact that many banks will be unable to refinance these maturing loans due to the imposition of higher capital standards and more stringent regulations, many MSLP borrowers are simply going to have to find new credit solutions.”
Having worked on some of the first originations in 2020, Clearcove’s team is uniquely positioned to help businesses navigate the capital markets and narrow down the range of opportunities available to them.
Harrison Kulick, Co-Founder and Partner at Clearcove Advisors, expressed enthusiasm for the launch, stating, "We're excited to support our clients in securing competitive terms across the bank and non-bank markets. As businesses face a complex post-covid macroeconomic environment, we look forward to introducing financing solutions that facilitate their continued growth."
For more information on Clearcove, please reach out directly or visit the website.
About Clearcove Advisors
Clearcove Advisors provides debt capital markets advisory services to lower middle market businesses. Additionally, the firm provides deal structure and syndication services to community and regional banks. Clearcove Advisors serves clients across North America.
