Creditors of small business lender Axsesstoday have approved a deed of company arrangement for the sale of the business to US private equity firm Cerberus Capital Management. Axsesstoday went into voluntary administration in April, after senior lenders told the company they were not prepared to support it with ongoing waivers of breaches of loan terms.The administrators, Vaughan Strawbridge, Sal Algeri and Glen Kanevsky of Deloitte Financial Advisory, said in a statement to the ASX that under the deed A$233 million of debt would be repaid in full to secured creditors.Unsecured creditors would receive between 33.9 cents and 34.9 cents in the dollar. The administrators had previously stated that shareholders were unlikely to receive anything from the sale.The buyer is Promontoria Holding 304 BV, an affiliate of Cerberus European Investments, which is itself an affiliate of Cerberus Capital Management.Last year Cerberus acquired the Australian, New Zealand and Philippines operations of lender Bluestone Group. The company got into trouble when it mis-managed a capital expansion last year. After establishing a securitisation warehouse facility and issuing a simple corporate bond, strong business growth and high arrears levels put pressure on its capital structure.In November the company disclosed that it had breached covenants under various facilities.