Home Improvement Finance Firm Can Tap $18M Ch. 11 Loans

Law360 (December 23, 2020, 7:25 PM EST) — Renovate America, a firm that provides home improvement financing services, received permission Wednesday in Delaware bankruptcy court to borrow $18 million in Chapter 11 loans as it seeks to sell its contractor and homeowner loan programs.

During a virtual first-day hearing, debtor attorneys said the interim approval from U.S. Bankruptcy Judge Laurie Selber Silverstein made the $18 million available immediately, with a final ask of $50 million coming next month.

Sharon Z. Weiss of Bryan Cave Leighton Paisner LLP said the debtor needed the money to pay down some of its existing debt while also funding its ongoing operations, including continuing…

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