In the recent weeks since the onset of the coronavirus it has not been business as usual in the banking industry. Our government has been investing trillions of dollars into the economy to help bailout industries as well as help individuals as this crisis unfolds. This has caused untold stress on most of the banking system as they are the ones helping to get the individuals and their business the loans to keep them afloat during this crisis.
What People Are Saying
Banks are trying to just take care of their existing clients but cannot even consider new deals from new potential customers because they are just too busy.
When speaking to banks they have no time to discuss new business as they are trying to help their clients with PPP/SBA and Care loans from the government. For the moment they cannot work on securing new financing for clients. Yet clients still have deals and must close on new deals or mortgages that are coming to an end.
A number of banks are currently overwhelmed by commercial clients seeking deferrals on loans because of non-payments from their tenants. Landlords are now seeking relief with some having no ability to pay.
If any of this resonates with you and you are in need of finding a institution to fund your property, whether it is a purchase, refinance, or any financing on a property, it may be time to have a conversation with us.
Let’s build something together.
If you have any issues or are in need of advice in this area, be comfortable and call us for a free consultation. We can discuss on a conference call or video conferencing or an individual call when you have time.