Second Avenue Capital Partners issued the following statement of support for businesses impacted by COVID-19:

The COVID-19 outbreak has impacted families, communities, and businesses around the globe. Fluid, ever-changing conditions have increased the level of uncertainty. During these trying times, Second Avenue Capital Partners (SACP) is well-positioned and committed to helping retail and consumer businesses ease their mounting capital and liquidity needs.

SACP recently closed a subordinated debt facility with an institutional asset manager focused on structured credit and private equity investments. In conjunction with the existing senior leverage facility, this new facility will scale up the resources available to provide rapid and flexible capital to impacted businesses.

“The COVID-19 outbreak has wreaked havoc throughout the country, and we’re in a position to help retail and consumer businesses recover,” said Chris O’Connor, President of SACP.  “We understand there will be circumstances where a business falls into financial distress as a repercussion of COVID-19. Our mission is to help companies overcome the challenges by providing tailored financing solutions with greater flexibility and liquidity than other capital providers can offer.”

Since launching SACP in 2018, many companies have benefitted from this best-in-class alternative to traditional sources of capital. In this short time, we’re already nearing $200 million of capital commitments by following a passion for helping companies overcome challenges. As a Schottenstein Affiliate, we leverage the experience of retail operators and product merchants to provide an array of customized, capital solutions for businesses. SACP is client-centric with an innovative product line designed to help businesses look forward.