Uniondale Firm Turns Tariff Refund Claims Into Fast Cash

Businesses that paid tariffs under the Trump administration’s emergency powers authority may be entitled to refunds. But with the federal government dragging its feet on processing those payments, a Uniondale financial advisory firm is offering companies a way to turn those disputed claims into cash now, rather than waiting out what could be a years-long legal slog.

Asset Enhancement Solutions LLC, based in Uniondale, has been working with hedge funds and other investors to help companies either sell their tariff refund claims outright or use them as collateral for loans. The approach gives businesses immediate liquidity while transferring much of the legal uncertainty to investors willing to bet on an eventual payout.

The opportunity stems from a February Supreme Court ruling that found tariffs imposed by the Trump administration under the International Emergency Economic Powers Act, known as IEEPA, were unlawful. The decision raised the prospect of refunds for companies that paid those duties. The Court, however, did not spell out how those refunds should be processed, leaving businesses in a holding pattern with no clear timeline for reimbursement.

That gap between legal entitlement and actual payment has created a secondary market for the claims.

Neil Seiden, managing director of Asset Enhancement Solutions, said this market actually predates the Supreme Court ruling. “This has been going on since the spring of 2025,” Seiden said. “Financial institutions started reaching out to larger companies that had $10 million to $20 million or more in tariffs to see if they wanted to monetize their claims.”

The math changed significantly after the Court acted. Before the ruling, hedge funds were typically purchasing claims for roughly 22 cents on the dollar, given the deep uncertainty about whether any refunds would ever materialize. Since February, that rate has climbed to somewhere between 40% and 50% of face value, with the higher end reserved for larger claims.

The firm said it has facilitated around $20 million in tariff refund claim sales across multiple industries, including food importers and companies that deal in seasonal goods.

The mechanics are complicated by the fact that refund claims cannot be formally transferred under current federal rules. The original company stays on record as the claimant and may still need to push the claim through administrative or legal channels. Any refund that eventually comes through would then pass to the investor who purchased the claim.

A recent ruling by the U.S. Court of International Trade ordered Customs and Border Protection to issue refunds on duties paid under IEEPA. But the government still has the option to appeal or delay compliance, and Seiden does not expect a smooth path forward. “It’s kind of anybody’s guess as to what will happen,” he said. “Even though companies should get the refunds in theory, the administration is doing everything it can to slow down the process.”

For businesses that want to hold onto more of their potential refund, Seiden’s firm also structures loan deals that use the claims as collateral rather than selling them outright. Under those arrangements, lenders typically advance between 50% and 80% of the claim’s value, with interest rates running in the low to mid-teens.

The trade-off is real but worth considering carefully. Selling a claim at 45 cents on the dollar means permanently losing more than half of its value. Borrowing against it at around 15% interest preserves the upside if and when the refund comes through, provided the company can manage the carrying cost.

For Long Island businesses with significant import exposure, food distributors, retailers with overseas supply chains, manufacturers reliant on components sourced abroad, the uncertainty has real consequences. Cash tied up in disputed tariff claims is cash not available for payroll, inventory, or operations. The secondary market that Asset Enhancement Solutions is tapping addresses a genuine need, even if accepting 40 or 50 cents on the dollar feels like a concession.

The broader question for affected businesses is whether Washington will ever settle these claims quickly or efficiently. Given the current posture of the administration, that is not a safe assumption to make.