Hertz is looking to get a bankruptcy loan.

Hertz Seeks Bankruptcy Loan After Share Sale Falls Through
Hertz Global Holdings Inc. is seeking debtor-in-possession financing for its Chapter 11 bankruptcy after its unusual attempt to raise money by selling potentially worthless shares fell through.
The rental-car company said in a regulatory filing Monday it is looking for new sources of cash with the travel business in a deep slump and proceeds from the sale of its cars going to pay off creditors. Hertz raised just $29 million from selling its stock before questioning by Securities and Exchange Commission officials led the company to terminate plans to offer as much as $500 million of equity.
Without an extension beyond Sept. 30, Hertz must start making payments on its European fleet, which is owned by investors who hold its asset-backed securities. Hertz already has reached an agreement allowing it to use much of its U.S. fleet with a commitment to pay securities holders $108 million a month from July until the end of the year.
To do that, Hertz plans to shrink its U.S. fleet by at least another 182,000 vehicles after selling off 100,000 cars in June and July.