Results 1 to 15 of 15
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03-15-2020, 02:48 AM #1
- Join Date
- Sep 2019
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- 402
Best Industries Right Now
Every underwriter has a different take and some funders are completely stopping to fund but it seems people think these industries are going to do fine:
Grocery stores
logistics companies
Doctors Offices/Medical
Any one have any to add to the list?
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03-15-2020, 03:31 PM #2
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- Jul 2015
- Posts
- 1,202
Industrial Cleaning/Remediation, Commercial bakeries. Licensed day care will be over-run with kiddos.
Smart SBA Brokers
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03-15-2020, 04:04 PM #3
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- Oct 2016
- Posts
- 4,318
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03-15-2020, 04:44 PM #4
- Join Date
- Oct 2016
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- 4,318
Ohio and Illinois just banned dining in restaurants. Only takeout (at curbside) and delivery.
I assumed restaurants wouldn’t get financing, but makes you wonder if restaurants that specialize in delivery and takeout might see good revenue — especially with supermarkets seeing shelves wiped out as soon as they’re stocked and Amazon fresh being absolutely overwhelmed.
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03-15-2020, 04:59 PM #5
I had a call the other day from an airport transportation company but besides that one mostly what we have been getting here are hotel/motel interested in putting up their property for collateral, ala a WBL style deal. Any other lenders doing this sort of deal right now? Preferably without the mandatory $1300 appraisal fee?...
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03-15-2020, 07:36 PM #6
- Join Date
- Oct 2016
- Posts
- 4,318
Italy is now reporting that COVID-19 mortality rate has risen to 25%. The flu has a mortality rate of 0.2%.
Maybe jackasses should stop comparing it to the flu (like that clown in the WH).
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03-15-2020, 07:50 PM #7
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03-15-2020, 07:53 PM #8
- Join Date
- Jul 2015
- Posts
- 1,202
No change for those who don't qualify for Disaster Loans. Other than, of course, historically low rates. But using the news helps anyway. The pitch is from the top down, not the "last three months statements" approach. Help prospective clients present their plan with the application as warranted.
Online and Local/Regional offices and pop-up SBA centers have normally handled Disaster applicants. Qualifying is not as easy as one might think. Good news is that property (loss) inspections would not apply, but collateral (hard or pledged) will likely still be required.
Sweet spot: Those rate averse leads/apps in the pipeline who wanted 6-8%APR. That is just about doable now.
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03-15-2020, 08:20 PM #9
- Join Date
- Oct 2016
- Posts
- 4,318
You are absolutely right. We’ve been taking that approach since last week. We’ve promised to help with the disaster loan program at no charge, but the process is cumbersome and time-consuming. These companies aren’t going to have a month to wait around for funds, so we will offer “bridges”.
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03-16-2020, 02:50 PM #10
- Join Date
- Dec 2013
- Posts
- 4,713
Mantis is funding away ... we have out 3-4 restrictions we always had. used auto and etc.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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03-16-2020, 05:31 PM #11
- Join Date
- Feb 2018
- Posts
- 1,349
any balance sheet lender whether they want to admit it or not is cutting back on credit until they see how this shakes out. if an iso rep tells you different, they just want your lead so they can market to them when things turn around! there should be clear communication from funder on industries that will be impacted, renewals impacted, and, UW modifications planned.
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03-16-2020, 06:10 PM #12
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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03-16-2020, 06:13 PM #13
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- Jun 2019
- Posts
- 196
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03-16-2020, 07:10 PM #14
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
Risen BY 25%. Not risen to 25%.
https://www.reuters.com/article/us-h...-idUSKBN212113
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03-16-2020, 07:19 PM #15
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- Oct 2016
- Posts
- 4,318
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