Geneva Finance is in breach of its banking covenants and expects to make a loss, after a write-down of its loan book.
The ailing finance company says it expects to make a loss of $4.4 million in the March year.
Geneva says a one-off write-down of its loan book of $6.3 million is to blame.
The loss is a downgrade on the $2.7 million profit Geneva earlier said it expected to earn, in its capital restructure document.
Geneva says the global credit crisis and cost increases have significantly impacted the collectability of its old loan book, which totals $43.7 million in receivables.