When banks bail on lending, brokers and alternative funding sources have a big role to play.
Where we were: After the March bank failures, many observers were asking where the regulators were.
- It’s a good question. But during most crises, they enter the game late—and this year was no exception.
What’s next: Enter the new BASEL III capital adequacy requirements for banks.
- A host of new capital restrictions are headed to banks near you—and are likely to impact how freely capital is distributed.
The clear takeaway:
- Most brokers have experienced the recent credit tightening firsthand. But with the very real possibility of more on the way, there has never been a better time to diversify your stable of lenders and adjust your origination strategies accordingly.
- Targeting more small-ticket opportunities for app flow—where rate has a lower impact on purchase decisions and credit approvals might come easier—could be key.
We can help. As a long-time funder of the broker channel and strong specialty in smaller-ticket transactions, TimePayment offers flexible monthly payment options for equipment needs starting at $500 and reaching $500,000 and beyond. We bring the technology tools to help you win where the opportunities are.
*2023 Sawbux Greenwich Study of Commercial Finance Decision Makers