Chad Stauffer's questions to Heritage Global (HGBL) leadership • Q3 2024
Question
Questioned the high loan concentration with a single borrower, asking if it was a mistake and what process changes have been implemented to prevent a recurrence.
Answer
Management acknowledged that, in retrospect, the concentration with the single borrower was too high. They stated they have learned from this and going forward, will lend more judiciously and cautiously to ensure the client base is broad and not dependent on any single entity.