[SFC]

If we go full blown Italy: massive quarantines (voluntary or otherwise), cancellation of events, limited exposure etc. what is your best guess on what happens to the industry from a broker, funder and merchant demand and performance perspectives?

Are there more merchants who need money but less who will pay? Will tons of existing merchants default? Will brokers or funders go under? Any educated guesses from experienced members?

[Get It Done]

demand will spike then taper off. get a little cushion in to bridge until this blows over. if its prolonged, defaults will go up unless there's forgiveness granted somehow. struggling funders may lay off employees and chill on receivables. remember when mca started to thrive after the mortgage bs? this may lead to ficos dropping, tax liens, etc dropping business profiles down. May bring in new prospects that used to get bank money. more big money merchants. the bounce back will be very good. if it goes full blown

opinion

[mcaguru]

While others come on here with their opinions..let me just get this out here ...Mantis is funding away.... the moment you get a decline (or feel a low-ball offer) think Mantis ! .."TIP OF THE MONTH" not working with mantis sign-up ASAP bizdev@cresthillcapital.com

[SmartAdvanced]

While others come on here with their opinions..let me just get this out here ...Mantis is funding away.... the moment you get a decline (or feel a low-ball offer) think Mantis ! .."TIP OF THE MONTH" not working with mantis sign-up ASAP bizdev@cresthillcapital.com

Can I come work in your office , since you guys are virus proof?

[brokerCompany]

If we go full blown Italy: massive quarantines (voluntary or otherwise), cancellation of events, limited exposure etc. what is your best guess on what happens to the industry from a broker, funder and merchant demand and performance perspectives?

Are there more merchants who need money but less who will pay? Will tons of existing merchants default? Will brokers or funders go under? Any educated guesses from experienced members?

What is you die tomorrow? LIfe goes on for everyone else. Dont live in fear

[SFC]

Oh I'm not, but brokers are telling me that subs are slowing down BIG TIME. That's the concern.

[fundingsmbs]

As Roosevelt once said,

the only thing we have to fear is fear itself.....

[mcaguru]

Oh I'm not, but brokers are telling me that subs are slowing down BIG TIME. That's the concern.

I dont see subs slowing down -- business owners will always be looking for funding...question is are funders going to decline / pass on deals ? .. if you are getting declines or not enough have MANTIS in mind.

[SFC]

As Roosevelt once said,

the only thing we have to fear is fear itself.....

And running out of respirators. And merchants defaulting. But yes, fear too!

[Moshe73]

I'm hearing funders are tightening their boxes heavily right now and not many offers are being given out for restaurants, daycares, basically anything reliant on customer flow.

[mcaguru]

I'm hearing funders are tightening their boxes heavily right now and not many offers are being given out for restaurants, daycares, basically anything reliant on customer flow.

not the case at Mantis ... Not signed up now is the time..... bizdev@cresthillcapital.com

[Chambo]

If we go full blown Italy: massive quarantines (voluntary or otherwise), cancellation of events, limited exposure etc. what is your best guess on what happens to the industry from a broker, funder and merchant demand and performance perspectives?

Are there more merchants who need money but less who will pay? Will tons of existing merchants default? Will brokers or funders go under? Any educated guesses from experienced members?

I've already had a Chinese restaurant declined due to Corona Virus concerns, and two other companies call me to help them beg for reduced payments

[SFC]

I've already had a Chinese restaurant declined due to Corona Virus concerns, and two other companies call me to help them beg for reduced payments

Here it goes. Might start with restaurants but it's going to be nearly everything soon.

[SFC]

I'm hearing funders are tightening their boxes heavily right now and not many offers are being given out for restaurants, daycares, basically anything reliant on customer flow.

Thanks, makes tons of sense. But technically everything relies on customer flow. I certainly here the "in person" flow but I imagine if you need a plumber he's still coming. etc.

[Kevin Henry-Seacoast]

It can get very bad, very quickly. The illness may very well pass withing the next few months, but the economic impact is going to be very....very bad.

Think of it this way.....

A nursing convention in California was scheduled for April. The organization cancelled the convention this past Friday. There were over 15,000 nurses registered for the show and countless exhibitors, sponsors, speakers, trainers, etc.
-Think of the loss of revenue and impact of the cancellation of this one event. There are hundreds of events like this in the country daily............

[WestCoastFunding]

Not going to mention their name, but received an email from one big money high risk funder saying they’ve paused funding for time being until things shake out with the coronavirus.

[Michael I]

funders will need to be handle stopping and lowering payments if needed, issues is some funders cant based on their cost of capital.
brokers need to be prepared if funders stop funding for a little to survive those months .

[FUND3R1]

we will see how this plays out - people are always in need for this funding. (I hope)

[Get It Done]

travel, restaurants, public places really might take the hit.. ecomm becoming preferred? lol

[SFC]

Too bad everyone can't just calm the heck down. 61,000 Americans died from the Flu 2 years ago and less than half of Americans even bother getting a flu shot.

We're going to tank our economy and industry for absolutely no good reason. Stay away from the sick and the elderly and they'll be fine.

What a shame/mess.

[WestCoastFunding]

travel, restaurants, public places really might take the hit.. ecomm becoming preferred? lol

Or any industry that relies on goods from China — where many factories have halted production. This will completely **** up supply chains.

[mcaguru]

Not going to mention their name, but received an email from one big money high risk funder saying they’ve paused funding for time being until things shake out with the coronavirus.

Don't say their name but if they sending out Emails it does not look like they hiding this pause. (Vs a situation were you say an UW privately told you that they are stopping to fund for a while).

[WestCoastFunding]

Don't say their name but if they sending out Emails it does not look like they hiding this pause. (Vs a situation were you say an UW privately told you that they are stopping to fund for a while).

Actually the term they used was “tightening up guidelines” — which I’ve received emails from a bunch of funders saying that. When I called them they said straight up that they stopped altogether for time being.

[HFHBrooklyn]

We have received requests already from several merchants for reduced payments, which we have honored, due to their sales declines.
Washington State the most.
We have also adjusted our UW criteria.
But there will be much opportunity once this epidemic slows down.
Lets hope we all can weather this situation.
Stay strong !!!!

[abfunders]

We have received requests already from several merchants for reduced payments, which we have honored, due to their sales declines.
Washington State the most.
We have also adjusted our UW criteria.
But there will be much opportunity once this epidemic slows down.
Lets hope we all can weather this situation.
Stay strong !!!!

How do we ensure that the merchants aren't penalized for this? Is it time for a new thread?

Ideas off the top of my head:
- List of funders who are doing things honestly by reducing payments because of COVID-19
- Give all merchants who are given this relief letters from the funders WHEN they reduce the payments, and a letter after they return to normal stating that they were in good terms the entire time (both are needed, BTW)