In our ongoing series of lending factors that affect interest rates, let’s (finally) talk about credit scores and related risk factors. I say “finally” because to many people, the credit score is the be-all, end-all of borrowing. And it is true that credit scores and related risk factors are important, but not always in the way people think. … Read More »
The last few posts were all about bank business loan restrictions, and how harmful they can be to your business operations and financial flexibility. Clauses like blanket liens, compensating balances, and annual requalification are common and written into almost every bank business loan. They may or may not be clearly discussed, and it’s up to the borrower to… Read More »
I recently talked about companies who financed equipment for the first time, and it reminded me of a story of a particular first timer. The company in question is a tree service company, and since he’s become a client, I’ve gotten to know the owner quite well. He started out with a bucket truck, a stump grinder, and… 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 »
It’s the #1 question our customers have been asking for almost all of 2022: when are these interest rates coming down? I wish I knew the answer, but I don’t. Nobody does. We’ve seen rates rise all year, most recently at the beginning of November. And to my eyes (as well as to most economic pundits), the end… Read More »