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Case 16-42529 Doc 53 Filed 04/13/16 Entered 04/13/16 12:50:57 Main Document <br />Pg 23 of 31 <br />(b) secured by a lien on property of the estate that is not otherwise subject to a lien or (c) secured <br />by a junior lien on property of the estate that is subject to a lien. To obtain secured credit on a <br />postpetition basis, a debtor must demonstrate "by a good faith effort that credit was not <br />available" to the debtor on an unsecured or administrative expense basis. Bray v. Shenandoah <br />Fed. Say. & Loan Ass'n (In re Snowshoe Co.), 789 F.2d 1085, 1088 (4th Cir. 1986) (affirming <br />lower court's approval of a loan made to the debtor under section 364(d) of the Bankruptcy <br />Code). See also In re Ames Dept. Stores, Inc., 115 B.R. 34, 37 (Bankr. S.D.N.Y. 1990) (debtor <br />must demonstrate inability to obtain unsecured credit to acquire approval of loan under section <br />364(c)). In making this showing, the Bankruptcy Code "imposes no duty to seek credit from <br />every possible lender before concluding that such credit is unavailable." In re Snowshoe Co., <br />789 F.2d at 1088. See also In re Ames Dept. Stores, 115 B.R. at 40 (to obtain relief under <br />section 364(c), "a debtor is not required to seek credit from every possible source"). Courts grant <br />a debtor considerable deference in exercising its sound business judgment to obtain such credit, <br />provided that the agreement is consistent with the provisions of, and policies underlying the <br />Bankruptcy Code. See In re Farmland Indus., Inc., 294 B.R. at 879-81 (court may consider <br />debtor's business judgment, among other things, in determining whether to approve postpetition <br />financing under section 364). <br />44. The Debtors believe that it may be difficult to enter into new insurance <br />policy premium financing agreements on a wholly unsecured basis. To the extent the Debtors' <br />execution of postpetition premium financing agreements is deemed a secured extension of credit, <br />the Debtors request authority to enter into such agreements pursuant to section 364(c) of the <br />Bankruptcy Code. The Debtors further submit that, pursuant to section 364(e) of the Bankruptcy <br />Code, any reversal or modification on appeal of this authorization to obtain credit under section <br />-23- <br />