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02-06-2020, 03:38 PM #1
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Public Service Announcement
Hey DF,
Just a heads up on some things I have been seeing and/or noticing......
-Announcement in a trade rage this morning. CH11 filings are up over 70% over last year at this same time.
-Two major super markets have filed CH11 recently. One of their suppliers is on the hook for over $10Mil in AR.
-Trucking companies, hotels, and restaurants continue to show up in CH 11 filing reports.
-Some of the super regional banks are avoiding the above mentioned sectors and tightening credit guidelines over all.
-I have recently seen several deals where companies were not only over-advanced with their banks, ABL lenders, or Factors, but they were several advances stacked on top of the credit facilities. The banks. lender, and factors were showing the customer the exit sign on every deal. The challenge: Theses are Hotel California deals....you checked in, but you can never leave. At least 7 of these in the last 10 days. Some were quite large.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-06-2020, 04:10 PM #2
so, in layman's terms, the markets (and economy) are tightening up?
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02-06-2020, 04:13 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Consumer confidence is still the main driver of the economy right now according to a few smart economist I know. Once they start feeling pinched or tight and stop spending, it could get ugly fast. It's not am matter of if.....it's when.....
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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