You should really state the name of the bank. You are categorizing all big banks, small bank, credit uniions, etc into one catagory and making a pretty big assumption. They all aren't doing it this way.I have a small landscape contracting company. We carry zero debt, do everything legit and submitted our paperwork properly the second we could do so. Unfortunately they shuffle the loan paper work of businesses that don’t have lines of credit, cc debt to the back of the line because they don’t make much money on companies like mine. Hopefully that doesn’t mean we were too late.
43-Not the first time I’ve been accused of being a little, sometimes even really, slow.....Dg. You are a little slow sir. I can't believe it took you this long to figure out that Wells Fargo sucks. I sure enjoyed the day I fired them
It will probably be a delayed reaction. But I think it also depends on the space size you’re looking for. If it’s 15,000 sq ft or less (ie perfect for small businesses), there will be some leased spaces opening up because of the ones that didn’t make it through this period. The problem is, the pricing probably isn’t going to fall off as quickly because the demand will still be there. I don’t see too many buildings going on the market because these things have been nothing but ATM machines for the owners if they purchased them during the last downturn (2010 or so).Does anybody have an idea or a market report for potential impact on commercial real estate prices? This may be a good time for a business with some cash available
Zac - just curious - do you guys maintenance or new construction ? Shoot me a PM if you prefer.Bank of America.
And to be clear I’m not mad at their methods. And if we are not one of the fortunate It’s a case of “you win some and you lose some”. But you live to fight another day.
My gut tells me banks prioritized existing borrowers to lower their own loan lossesI think banks are putting the money where it helps them. I bet they only sent money to businesses that had a loan with that bank. The bank was not getting paid to do all these loans so they must have decided to get some benefits.
If you didn't have a loan with your bank or SBA I bet you didn't make the cut. Which is really sad as the leveraged ones get the benefit while the conservative businesses get nothing.
Just like any government program it will be manipulated for the good of the people in control of it.
So if you don't ever NEED the money will you kindly return it to the American tax payer?The good and the bad
We were fortunate enough to get funded..Money in our account. We don't NEED the money today but one never knows
Washington will print more money for those left out