Refinancing
How to refinance your company's debt
Refinancing isn't just swapping one lender for another — it's a competitive process. Start early, run a real process, and make lenders compete for your deal.
12–9 months out
Audit your debt
Know your maturity dates, covenant thresholds, prepayment penalties, and any springing provisions. Identify which facilities mature first and which have extension options.
9–6 months out
Prepare the package
Update financials, build the lender memo, get a quality-of-earnings report if needed. The better your package, the faster lenders can underwrite and the better your terms.
6–3 months out
Run the process
Contact 15–30 lenders matched to your deal profile. Run a competitive process — let lenders know others are looking. First-round indications come in 2–3 weeks.
3–1 months out
Negotiate and close
Down-select to 2–3 finalists. Negotiate term sheets in parallel. Pick the winner and close. Having a backup lender keeps pressure on the lead throughout diligence.
1 month out
Finalize documentation
Credit agreement, intercreditor agreements, security filings. Your counsel should have worked through most issues during diligence — this is execution, not negotiation.
Don't wait until the last 90 days
When your debt is 90 days from maturity, lenders know you're desperate. Terms get worse, covenants get tighter, and you may be forced to accept a deal you'd never take with 6 months of runway.
Speed matters in a refinancing
31 lenders in our database can close in 30 days or less. If you're tight on time, target fast-close lenders first.
Find refinancing lenders
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