When repayments slip and lender conversations become difficult, the temptation is to look for a quick fix. The more useful first step is a sober assessment of what kind of stress this is, because the answer decides which options are realistic.
Temporary or structural?
Temporary stress comes from a delayed receivable, a one-off cost overrun or a short demand dip. Structural stress comes from a business model that cannot service its debt even in normal conditions. The first can be bridged with restructuring; the second needs a more fundamental solution.
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