Oregon Business News recently printed an emailed letter from Sunwest’s CEO, Jon Harder, to U.S. Senator Gordon Smith’s office that pleaded for assistance. According to the article, Harder’s lawyer confirmed its authenticity but the tone of the letter paints a shocking picture of the challenges it faces with its lenders and its operations. If Mr. Harder’s debt service coverage numbers are correct, it would seem that its primary lender is being unreasonable unless there are other items that have not been shared which may be contributing to the hard tactics employed by its lender. The scariest part to consider is that if Sunwest is have this much difficulty and its numbers are that good, they have nowhere to turn to for refinancing.
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