We’re talking about lending restrictions in 2024, and first up is the notorious blanket lien. First let’s talk about liens in general. In business/lending, a lien is when a lender claims the right to property belonging to the borrower until the debt owed by that borrower is discharged. The mainstream talk on liens is usually related to vehicles.… Read More »
In answering the question “is lending more restrictive in 2024?”, the answer is twofold. Yes, many lenders – especially banks – have tightened credit requirements overall. But what I’d like to talk about more are the restrictions that almost all banks use for business lending. I haven’t talked about these in a few years here, so 2024 seems… Read More »
In general, there are two distinct ways to apply for equipment financing: Application-Only, and Financial Disclosure. The details of each will vary depending on your lender, and what one lender calls Application-Only may differ from what another lender considers it, but in the big picture, most equipment finance applications will come down to one of the two. The… Read More »
Now that we’re about to hit the third quarter of 2023, let’s discuss rates. Something really big happened at the last Federal Reserve meeting on June 14th – rates did not go up for the first time since January 2022. They didn’t go down either – they just held fast. However, let’s not break out the party hats… Read More »
Got an email the other day, and thought I’d share it with you. Fletch, I’ve been reading your thoughts about rates but I’ve been holding off getting new gear because I was too scared to borrow when rates were rising. I clearly should have a year ago but that’s hindsight. But today even though I really need some… Read More »