Metal commodities are soaring to record highs in 2021 as supply chain issues threaten to hinder a solid rebound from economic contraction in 2020. A similar recovery is taking place for asset-based lending to metal service centers.
The COVID-19 pandemic is historically unprecedented, but its effects on the financial world are not wholly unique. Hugh Larratt-Smith uses the turn of the 20th century as a historical parallel and speaks with several prominent members of the asset-based lending community to get their thoughts on how the market will develop during the second half of 2021 as the pandemic (hopefully) recedes.
As the healthcare sector continues to be an attractive arena for lenders, it’s important to remember that special care must be taken to close deals efficiently in this space. Stacy Hopkins of Paul Hastings urges lenders to perform specialized due diligence early in the loan lifecycle to ensure healthcare lending deals get done.
Many aspects of the asset-based lending process had to be drastically changed due to the working conditions spurred by the COVID-19 pandemic, but no area was as challenged as the work of field examiners. Donald F. Clarke of Asset Based Lending Consultants explains how field exams were conducted during the COVID-19 pandemic and how they might look in a post-pandemic world.
Despite all we know about Chapter 11 bankruptcy, there is still a lot left to be uncovered. Examining how the process affects minority-owned businesses is an especially lacking area of study, but there are potential insights to be found in the limited research that has been done as well as the more largely available data on the consumer side.
Through the creation of a LGBTQ2+ business development officer role, TD Bank has made lending to businesses within the LGBTQ2+ community a priority. Steve Garibell, who fills the role in the New York market, shares his experience and how he helps businesses grow.
As more and more companies prioritize improving diversity, equity and inclusion (or at least say that they do), they must ensure that leadership is held accountable and that they maintain focus on this area in good times and bad. Otherwise, it may lead to poor performance in the future.
Building a more representative workforce takes more than just words. To really improve, companies can’t fall into the trappings of lazy excuses. Instead, they must be creative and intentional with how they attract, recruit, hire and promote employees of color.
The rise in efforts to better promote and institute diversity, equity and inclusion across the financial services sector (and most industries in general) has led to an increase in the hiring and appointment of chief diversity officers. But naming someone to the role is only the beginning for companies that are fully committed to making progress.
The loan lifecycle is changing in front of our eyes, which means lenders need to stay up to date on the latest trends in technology in order to continually improve their processes. Nancy Lee of ABLSoft identifies cognitive computing and automation as two of the most important technology trends impacting the commercial lending market right now.