[SFC]

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?

[HDF]

Industrial Cleaning/Remediation, Commercial bakeries. Licensed day care will be over-run with kiddos.

Smart SBA Brokers

[WestCoastFunding]

Industrial Cleaning/Remediation, Commercial bakeries. Licensed day care will be over-run with kiddos.

Smart SBA Brokers

Yep. Although since the $50B in disaster loans is run directly through the SBA website, are we allowed to charge to broker them?

[WestCoastFunding]

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.

[tamerica]

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?...

[WestCoastFunding]

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).

[tamerica]

[HDF]

Yep. Although since the $50B in disaster loans is run directly through the SBA website, are we allowed to charge to broker them?

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.

[WestCoastFunding]

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.

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”.

[mcaguru]

Mantis is funding away ... we have out 3-4 restrictions we always had. used auto and etc.

[fundingsmbs]

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.

[skideeppow]

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).

not remotely true. Mortality rate for those above the age of 90 is 18.99%. There are no recorded fatalities from ages 1 month-29. 30-39 is .12%, 40-49 .07% 50-59 .56%, 60-692.68% 70-79 9.62.

[MCN]

not remotely true. Mortality rate for those above the age of 90 is 18.99%. There are no recorded fatalities from ages 1 month-29. 30-39 is .12%, 40-49 .07% 50-59 .56%, 60-692.68% 70-79 9.62.

where are you getting those numbers? they dont match what ive seen on the WHO website

[Christian]

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).

Risen BY 25%. Not risen to 25%.


https://www.reuters.com/article/us-h...-idUSKBN212113

[WestCoastFunding]

Risen BY 25%. Not risen to 25%.


https://www.reuters.com/article/us-h...-idUSKBN212113

Correct. Got that wrong