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03-22-2020, 10:42 PM #1
- Join Date
- Feb 2020
- Posts
- 2
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.
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03-24-2020, 10:15 PM #2
- Join Date
- Jul 2018
- Posts
- 193
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