Rita and Naren Shahani owned a small successful government contracting company in Potomac MD. Like many family owned contracting businesses in the DC metro area, the company needed to find a local bank to open a line of credit to finance month to month contract receivables for labor and equipment. The terms for the line of credit required that the Shahani's sign personally and place a lien on their residence for the company loan.
Success led to success and the company won a large services contract to train Navy and Air Force pilots on a $3 million T-6 instrument trainer. Unfortunately the local bank said no since that was more than the equity in their house.
Anderson contacted Mr. Shahani with a solution underwritten by the Royal Bank of Scotland where there was no personal guaranty or house lien required to fund the trainer.
Success led to success and the company won a large services contract to train Navy and Air Force pilots on a $3 million T-6 instrument trainer. Unfortunately the local bank said no since that was more than the equity in their house.
Anderson contacted Mr. Shahani with a solution underwritten by the Royal Bank of Scotland where there was no personal guaranty or house lien required to fund the trainer.
