[mb_]

We had 3 $100k deals go out on Friday and one was with a lender who had "suspended funding until further notice." 1. Medical distribution - latex gloves, face masks, etc. (no brainer) depositing $700k monthly and then $2M MTD, 2. Freight forwarding - food and beverage, depositing $500k monthly with 50% of that factored payments from a national supermarket chain (another duh), and 3. Waste management facility that was just clean. Strong balances and great A/R.

Granted, these were all MUCH lower approvals than they would have been pre-corona, but the industry is not dead. It's just changing again. If a deal makes sense, it's going to get done, but I think we're going to start seeing those daily ACHs slowly replaced by invoice factoring, real asset-based lending (not you, WBL), and PO financing, etc.

[blashley]

We had 3 $100k deals go out on Friday and one was with a lender who had "suspended funding until further notice." 1. Medical distribution - latex gloves, face masks, etc. (no brainer) depositing $700k monthly and then $2M MTD, 2. Freight forwarding - food and beverage, depositing $500k monthly with 50% of that factored payments from a national supermarket chain (another duh), and 3. Waste management facility that was just clean. Strong balances and great A/R.

Granted, these were all MUCH lower approvals than they would have been pre-corona, but the industry is not dead. It's just changing again. If a deal makes sense, it's going to get done, but I think we're going to start seeing those daily ACHs slowly replaced by invoice factoring, real asset-based lending (not you, WBL), and PO financing, etc.

Who does PO financing? TIA