Three local entrepreneurs have launched a new company aiming to assess new loan requests and mitigate the impacts of distressed assets throughout New England.

Business partners Larry Corbeil, of Corbeil Associates Inc.; Greg Pando, of Pando Associates Inc.; and Dave Dirubbo, of Acella Construction Corp.; have launched Equity Recovery Advisors LLC in Norwell, the company said in a statement.

"We formed this company when we collectively saw the need for a firm that could provide workout solutions for financial institutions that may have troubled assets on their books," said Corbeil.

With more than 75 years of combined experience and expertise in the fields of design, owners’ and lenders’ representation, and development and construction, Equity Recovery Advisors will offer clients a complete construction and financial solution, the company said.

Services vary by assignment, and range from pre-commitment loan evaluation to turn-key construction management solutions, the company said in a statement.

"Our goal is to maximize our client’s asset potential while minimizing their exposure. The response from the financial industry has been very strong so far, and we look forward to pursuing additional opportunities," said Pando.