Small business lender Axsesstoday does not appear to be any closer to resolving a capital management and governance crisis that blew up last November. In the latest update in the saga, it has appointed corporate adviser Moelis Australia to undertake a strategic review.Moelis has already worked with the company to produce an updated financial model, which has been provided to the company's senior syndicated lenders, securitisation warehouse facility financier and subordinated note issuer FIIG.Axsesstoday is no longer just considering a capital restructure. Sale and business restructure are also on the table now.Last year the company, which was launched in 2012, took steps to increase its funding base but it executed the process badly.In May, it set up a securitisation warehouse facility with A$200 million in senior bank funding provided by Macquarie and a total capacity of $285 million.In June, it launched a simple corporate bond offer, raising $55 million, with the proceeds to be used to support loan growth and repay existing borrowings.In August, it reported strong financial results, with EBITDA growth of 130 per cent to $26.3 million and net profit growth of 94 per cent to $7 million. The loan book increased by 100 per cent during the 2017/18 financial year and stood at $336 million at June 30.The financial report noted that "increased funding facilities from financiers reduced funding costs and provided an efficient funding structure". However, in November the company disclosed that it had breached covenants under its syndicated facility, subordinated note and Series 2 note agreements. The chief executive Peter Ferizis was terminated in November, and in February the chief financial officer Joe Flanagan was terminated by incoming chief executive Joanna White.Legal counsel was brought in in the New Year to provide guidance on the company's ongoing compliance with its funding agreements.While all this is being sorted out business activity has been scaled back.In its latest statement to the ASX, Axsesstoday says the secured lenders have agreed to "extend their forbearance in respect of the company's current beaches under the company's debt facilities" to allow them more time to consider the strategic review.The company intends to request further support from its FIIG noteholders and bondholders. The trustee of the FIIG subordinated notes has called a meeting for April 17. The company has yet to produce half-year accounts.