Due to rapid expansion into the United States, a Canadian-based energy services 
technology company breached financial covenants under its existing credit facilities 
with a Canadian Chartered Bank and was asked to refinance its credit facilities. The 
Company lacked the working capital needed to provide services to large energy 
companies that, while creditworthy, were slow to issue payments while the Company’s operating expenses were primarily comprised of various payrolls. To refinance its existing financing facilities with its unsupportive lender, the Company sought term and revolving credit facilities, which would provide the financial capacity to integrate and build on its strategic expansion.