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Auto Parts Manufacturer

Deferral and Reduction

How Onset Helped them Recover and Rebuild

This customer manufactures and supplies aluminum components to automobile parts manufacturing companies. Those clients then distribute those parts to Ford Motor Company – which has temporarily shut down production. In a chain reaction, that closure has forced our customer to halt production as well. Based in the state of Indiana, this company – deemed “non-essential” was forced to close doors for a time. Due to market uncertainty, company leadership furloughed 145 employees. They anticipate a profit and revenue-loss to exceed $5-million by year’s end. They contacted us for payment relief, which we provided. They have only been a client of ours since August 2019 and were provided 9 months of payment relief.

*These case studies are provided for informational purposes.  The names of the customers and the specific details of their business and situation have been withheld.  Qualification for Onset’s COVID-19 Relief Program is subject to review and approval by Onset and its underwriters.

60-Day Payment Deferral
7-Month Payment Reduction