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03/09/2021Fintech law goes into effect in Mexico
02/01/2020Mexico's AlphaCredit raises $125M
02/27/2019PayPal to do small biz loans in Mexico
10/09/2017SMB lending in Mexico gets a boost



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Fintech Law Goes into Effect in Mexico

March 9, 2021
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Mexico CityIt will be a big year for fintech in Mexico, with at least 93 fintech firms in the process of obtaining a Financial Technology Institution (FTI) license.

Lawyer Rene Arce Lozano, an advisor with the international Hogan Lovells law firm, wrote about the new “fintech law”; the first of its kind in Latin America. Many firms will see an authorization in the coming year from the National Banking and Securities Commission.

“Over the last few years,” Lozano wrote, “the fintech ecosystem in Mexico has evolved to become one of the most developed in Latin America.”

Mexico, home to 441 startups- the largest fintech hub in central America- passed the law in 2018 that went into effect this past year 2020, nurturing the creation of dozens of Mexican neo banks and electronic payments firms.

The new law sets regulations for payments and open banking and has stirred up excitement for fintech enterprise in the country as a whole. But according to Financial specialist Stefan Staschen, the law isn’t the cure-all.

“The law covers only two types of fintech companies,” Stashen wrote. “It does not provide regulatory guidance for other services, such as fintechs offering balance sheet lending, big tech companies launching financial services, investment services other than crowdfunding, or central bank digital currencies.”

The new law may be a great start, but it is the first step to broader regulatory approval to the diverse financial tech world. Staschen works at the CGAP– an international advocacy group based in Washington that aims to extend financial inclusion throughout the world.

New Mexico Bill Would Allow State Employees to Repay Loans Via Paychecks

January 15, 2018
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shiprock at sunrise, new mexicoProposed legislation would enable New Mexico to offer small loans to state employees that are paid back via deductions from their paychecks.

Put forth by Democratic state Senator Bill Tallman, the bill would put a 30 percent ceiling on interest rates for loans obtained via the program and limit repayment to 12 percent of gross salary or wages.

According to the Associated Press, Tallman says the bill is aimed at lowering debt burdens on state workers.

Should it pass, Tallman’s initiative would serve as another step for the state in its current battle against predatory lending tactics. As of this month, small lenders in New Mexico are held to a maximum of 175 percent interest on all loans finalized from January 1, onward.

Doug Farry, executive vice president of Employee Loan Solutions Inc., which deploys the employee lending service, True Connect, believes such a strategy can prove successful at the state level.

“It’s a benefit program,” said Farry while discussing the bill. “There’s no reason why it can’t work for a state government as well as a county or city.”

Aimed at empowering workers that face obstacles when applying for credit via traditional avenues, True Connect mainly serves private employers but has seen increased interest in the public sector. This includes government organizations such as Santa Fe Public Schools and others within the state of New Mexico.

At no cost to their participating employer and without submitting a credit score, workers can sign up for small loans via the company’s website.

Typically the funds are deposited with in one business day, and the loan is repaid over the course of 26 paychecks at a flat rate of 24.9% interest.

New Mexico’s decision regarding the practice is yet to be determined, but should the bill pass, the state may soon have followers.

Farry says that True Connect is currently in talks with multiple state governments about including a similar system in their benefits package.

Business Lending in Mexico – From the Front Lines

January 20, 2016

Business Loans in MexicoIt’s no secret that the financial technology (FinTech) industry has exploded and its effects are being felt around the world. With its epicenter in the US (arguably the UK), it quickly caught on in other major markets like Europe, Australia and Canada. The main narrative for the FinTech industry plays as follows: First, a huge local market has incumbents (local banks), which make it hard for the local population to move or obtain capital (payments and loans, respectively). Then, a bunch of clever people arm themselves with tech, tools and capital to come up with a better solution than the incumbents in their markets; and as people in the US are looking west, east and north to see how this tune plays out in different markets, I have seen how the FinTech phenomenon is growing strongly down south, here, in Mexico.

Mexico’s FinTech market is made up of the same parts as in the rest of the world. It has huge potential, but surprisingly only few people know about it. With roughly a third of the population of the US (123 million people), and an economic value similar to that of Australia and Canada, Mexico´s local market is in dire need of financial services. In our company’s market, domestic credit represents a meager 31% of GDP[1]! It’s 69% in Brazil by contrast. The USA has a startling 194%. This means that the Mexican private sector is not receiving enough capital in the form of financial products from local financial institutions. The same phenomenon exists in the payments space. For example, in the point of sale (POS) industry, there are currently 8 POS per 1,000 people in Mexico. The US has more than double that at 21 POS per 1,000 people, and Brazil has 3x at 24 POS per 1,000!

Regarding the incumbents, the banks, Mexico is known as the land of monopolies. While in the US there are literally thousands of banks, in Mexico, there are just over 40 banks, with the top 20% holding close to 80% of the market and its profits. Furthermore, Citibank’s and BBVA´s Mexican operations are some of their most profitable worldwide. Large banks like these enjoy extraordinary profits, and have been slow to adapt to new technological trends, service niche markets and provide services which could cannibalize bank revenues. After all, why would a monopoly innovate if it holds most of the market in its hands?

And then there are the people trying to solve this problem. Many Mexicans travel to study in the world´s top graduate programs and return to Mexico to act on what they learned. Domestically, Mexico churns out 3 times as many engineers per capita than US universities do. So currently there is a boom in the number of start-ups in Mexico[2]. And as start-ups tend to do, they are targeting one of the largest and hairiest problems this country has to offer: Financial Services. As a result, the likes of “500 Startups”, “Tech Stars”, “Village Capital” and “Y-Combinator”, and several Silicon Valley VC funds have turned their attention south. Several Mexican start-ups have been raising increasingly larger rounds from local and US investors to quickly tackle the opportunities in the loans and payments spaces.

These Mexican companies are developing solutions for the national problems and they know how to do it with the local culture in mind. Even though the US and Mexico share one of the longest borders and a huge migrant flow, they have developed at different speeds, which present different challenges. Two examples of this divergence: The FICO credit score, created in 1970s in the US, barely made its way down to Mexico some 4 years ago. However in terms of regulation, Mexican banks have been quicker to meet regulatory compliance (Basel I/II) than most of their US counterparts[3]. So the new players up to bat here at home, the online lenders, merchant lenders, mobile POS, remittances, bitcoin exchanges, peer-to-peer market places and the like, are raising capital both locally and abroad to create the technology to service the large Mexican financial services market. And in many cases, they are trying to get the formula right to create a beachhead to jump into a larger and broader international Latino market.


Footnotes
[1] – In other words, how much capital is being provided by all the private financial institutions in the country to all the private interests (consumers and companies) in comparison to the GDP. A lower number means that the private sector is not providing enough capital to match the countries production. A higher means the private sector is matching or exceeding the capital needs of the private interests.

[2] – A few months ago “The Economist” made a small homage on the Mexican start up scene – http://www.economist.com/news/business/21647624-nascent-tech-hub-may-succeed-solving-local-problems-techs-mex

[3] – The high compliance of the Mexican Banks has been a byproduct of the boom and bust cycle that the country has had. So more than a voluntarily action, the central bank forced the local players to meet the international requirements.

Mexican Small Business Lender Buys a Bank, Eyes United States

June 18, 2021
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Mexico CityChange is happening south of the border. Online lenders and alternative funders are growing across Mexico much the same way as elsewhere. This week, Credijusto, an online small business lender based in Mexico City, acquired Banco Finterra, marking the first time that a fintech has acquired a bank in the country.

According to Reuters, “Credijusto aims to ramp up services for Mexican companies that sell to the United States, and build a business for U.S. companies that do cross-border trade in Mexico and beyond in Latin America.”

Mexico also has more than 6 million small businesses, a market that is effecively 4-6x larger than Canada’s.

Prior to this, Credijusto had already collectively raised $400M from Goldman Sachs, Credit Suisse, Point72 Ventures, New Residential Investment Corp., Kaszek, QED Investors, John Mack, Ignia, Promecap and LIV Capital.

“The acquisition of Banco Finterra seeks to create the first truly digital banking platform for Mexican companies in the future,” commented Allan Apoj, co-CEO of Credijusto. “This transaction marks an important milestone in Mexico and the region, and we are proud to be revolutionizing the future of banking in Latin America.”

Apoj’s partner, co-CEO David Poritz, hinted to Reuters that in a couple of years it may consider the acquisition of an American bank as well.

Earlier this year, Mexico began to allow fintech companies to obtain a Financial Technology Institution license.

Aspiria Co-Founder On Successful Funding in Mexican SME Space: Still Lots of Room to Grow

December 5, 2020
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aspiriaAfter 38 years, Guillermo Hernandez has seen the boom and busts of the Mexican financial markets, weathering seven recessions in all, he said. But until 2020, he had never led a company through a pandemic.

Aspria, Hernandez’s online lending firm, had planned on completing a Series A from international investor Oikocredit, but the deal went into the icebox as the cases came.

“In the beginning of the year, things were doing very well in Mexico, the whole economy was booming,” Hernandez said. “Out of nowhere, we got hit by the pandemic. And the transaction that we were supposed to be closing in March 2020, our investor said, ‘you guys are fantastic, but there are too many unknowns.'”

But due to Aspiria’s resilience and the fact that they went into 2020 with a rock-solid business, Hernandez said Oikocredit decided to complete the investment deal. Aspiria was growing and profitable, and though it was unclear if the markets were going to fall apart, Hernandez said he and his team put the nose to the grindstone and worked through it.

Oikocredit is a worldwide cooperative that provides loans and investments to promote financial inclusion while empowering people by improving livelihoods. That vision is what Aspiria aims to accomplish as an SME lender, Hernandez said, helping businesses access funds to grow.

 

“I SAW THAT THE WAY THAT PEOPLE WOULD DO THE UNDERWRITING, THE WAY THAT PEOPLE PROVIDED FINANCING FOR SMALL BUSINESSES WAS JUST SO OUTDATED”

 

The Mexican financial space has ample room for growth, and Hernandez said Aspiria is one of the first alternative business lending firms to capture the market.

aspiria foundersHernandez said the banking world in Mexico is twenty years or more behind the US, and he founded Aspiria to bring some change to the financing space.

“The whole financial services industry, I mean it’s light-years behind the US,” Hernandez said. “I saw that the way that people would do the underwriting, the way that people provided financing for small businesses was just so outdated; it was more of an old school market here. I decided there was this huge opportunity for the market.”

For example, Mexico has a third of the US population, but only 30 banks to the 7,000-10,000 the US has. That population is also a younger demographic than up north. In Mexico, the average age is 27 (It’s 38 in the US); Hernandez said: the Average Mexican is trying to establish themselves and reach the middle class, young, educated, and ready to start a business.

 

I THOUGHT FINANCIAL SERVICES WASN’T SEXY ANYMORE

 

Business Loans in MexicoHernandez has been working in finance all his life, starting in Mexico as a banker and consultant for new financial companies before leaving to get his MBA on an HSBC scholarship in Manchester, England. He worked for a time in financial services there before joining a payment startup in the US, where he found his love of startup tech culture.

“It was my first exposure to technology, and I was completely amazed. I fell in love with it,” Hernandez said. “At that moment, I was actually thinking about changing careers. I was completely fed up with financial services because it’s boring sometimes. I thought it was not sexy anymore.”

Co-founding Aspiria, Hernandez went on to become the major funder in the space. He said there is so much demand for capital in a standard year that his firm can see 100% year-over-year growth. Even in a pandemic, his firm received a confident investment that will go directly toward building the shop, scaling up funding, hiring, and aiming toward a firm that will one day put it on par with the rest of North America’s leading alternative finance firms.

Oikocredit Expands Its Commitment to Mexican SMEs With Investment in Aspiria

December 4, 2020
Article by:

Social impact investor Oikocredit has acquired a minority stake in Aspiria, an online SME lender in Mexico

aspiria mexicoAspiria (www.aspiria.mx), a digital lender targeting underbanked small and medium enterprises (SMEs) in Mexico, has completed an important Series A funding round with participation from social impact investor and worldwide cooperative, Oikocredit.

The Series A closing also saw follow-on investments from Aspiria’s current shareholders. The proceeds from the capital round will strengthen Aspiria’s financial capability to support Mexican SMEs.

With its investment in Aspiria, Oikocredit continues its commitment to support SMEs in Latin America, as Oikocredit sees SMEs as playing an important role in areas such as job creation.

Aspiria began operations in 2015 and has lent thousands of loans throughout Mexico. The institution has leveraged digital technologies, data analytics and high-quality service to support the financial needs of Mexican SMEs.

Guillermo Hernandez, CEO and cofounder of Aspiria, commented: “At Aspiria we are very excited to have Oikocredit onboard. SMEs have faced big challenges due to the pandemic and are in need of great financial services. Oikocredit’s investment is an acknowledgement of the tremendous potential of the Mexican SME sector. We look forward to continuing to serve a multitude of SMEs and helping create thousands of jobs in the country”.

Rodrigo Villalta, Equity Officer at Oikocredit, said: “At Oikocredit, we are proud to become shareholders of an institution whose mission is to provide financial support to SMEs that have been typically excluded from the formal financial system”.

“Mexican SMEs are key contributors to employment generation and economic development. We are happy that we can contribute towards building stronger social impact in the country by supporting access to the formal financial system for Mexican SMEs.”

About Aspiria
Aspiria works to increase access to capital to small businesses. Through our platform and the use of statistical credit origination models, we make it fast and simple for the small business owners who have been shunned by the traditional banking system, to obtain financing to continue growing their business.

For more information see: www.aspiria.mx

About Oikocredit
Social impact investor and worldwide cooperative Oikocredit has 45 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably. Oikocredit finances close to 689 partners, with total outstanding capital of € 856 million (September 2020).

For more information see: http://www.oikocredit.coop

Note for editors
For more information or to request an interview, please contact Leyda Mar Blanco, Marketing Manager, Aspiria, press@aspiria.mx

Libertad 1966, Col Americana, Americana, 44160 Guadalajara, Jal., Mexico

Lists of States Where Non-Essential Businesses Have Been Ordered to Close

March 24, 2020
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Make sure you know about individual state orders that could affect a small business’s ability to operate. Below is a list of states and regions that have ordered some or all non-essential businesses to close. This list may be incomplete and the details of each state’s orders could change and may have changed since this was posted. Do you own due diligence:

Fears of Possible Recession Don’t Phase CRE Lenders

December 16, 2019
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This story appeared in deBanked’s Nov/Dec 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE

retail shopsDepending on your vantage point, a slowdown is either already in progress, just around the bend or several years away. But some alternative commercial real estate professionals are trying to filter out the noise.

Instead, they are more aggressively forging ahead with growth plans, including trying to grab market share from banks.

The commercial real estate lending market remains highly competitive and alternative lenders say they remain focused on looking for opportunities to expand their business, even as the possibility of recession looms. At present, a number of professionals don’t see an imminent threat of recession, and even if there is one, they say they stand to benefit from picking up business banks don’t want to take on—or can’t—because of increased regulatory controls imposed on them since the last recession.

There are plenty of opportunities for alternative commercial real estate lenders to get ahead, even in this environment, says Chris Hurn, founder and chief executive of Fountainhead Commercial Capital, a Lake Mary FL-based, non-bank direct small business lender in the commercial real estate lending space.

New Commercial BuildingTo be sure, alternative commercial real estate lenders say that for the most part, there hasn’t been a major pullback in their space. But due in part to mounting economic concerns and changing business priorities, banks—which had already scaled back from their pre- Great Recession exuberance—have been taking an even more cautious approach to lending. This is especially true in certain regions of the country, or in sectors deemed higher-risk such as hospitality and retail, alternative lenders say. While the pullback hasn’t been broad-based, it’s been enough in some cases to create strategic pockets of opportunity for opportunistic non-bank lenders such as private equity funds, debt funds, crowdfunding portals and others.

For many of these commercial real estate professionals, whether or not a recession is on the horizon is not a guessing game that’s worth playing. And with good reason, given how much disagreement there is among market watchers, investment management professionals and others about where the economy is headed.

Certain economic data continues to be strong, for instance, but political and geopolitical factors such as trade wars continue to raise red flags. Then there’s the fatalistic notion that the economy has been on a tear for so long that it’s due for a pullback at some point. This all translates into a hodgepodge of speculation and indecision about the economy’s direction. The dichotomy is evident from the difference in sentiment expressed in two fund manager surveys from Bank of America Merrill Lynch taken a month apart. October’s survey was decidedly bearish; by November, the bulls were back, muddying the waters even more.

Instead of wavering in indecision, however, some alternative commercial real estate players are hunkering down and highly focused on building their business in a cautiously optimistic and strategic manner.

Hurn of Fountainhead Commercial Capital predicts a number of increased opportunities for alternative commercial real estate lenders due to pullback from banks and a growing need for capital. He cautions alternative lenders against being too pessimistic and losing out on potentially lucrative market opportunities as a result.

“IF WE’RE NOT CAREFUL, WE’RE GOING TO TALK OUR WAY INTO RECESSION. IT’S A SELF-FULFILLING PROPHECY”

“I think we might be going into a period of slightly slower growth, but none of the indicators suggest we’re remotely close to where things were 10 years ago,” Hurn says. “If we’re not careful, we’re going to talk our way into recession. It’s a self-fulfilling prophecy.”

Indeed, even as perplexing questions about the economy’s long-term health persist, some alternative commercial lenders anticipate growth in the coming year. Evan Gentry, chief executive and founder of Money360, a tech-enabled direct lender specializing in commercial real estate, says the company’s loan origination business is on track to close between $650 million and $700 million in 2019. That’s expected to increase to about $1 billion in 2020, fueled by growth in some strategic markets, including Washington DC, Atlanta, Miami and Charlotte, N.C., where the company is seeking to add loan origination personnel. Gentry says the company also continues to experience strength in many of the western markets, including the intermountain west markets of Colorado, Utah and Idaho, where growth is expected to continue.

CommLoan, a commercial real-estate lending marketplace in Scottsdale, Ariz., also sees strategic opportunities to grow in this environment. Mitch Ginsberg, the company’s co-founder and chief executive, predicts 2020 will be a strong growth year for his company, after a several-year beta period. CommLoan has plans, for example, to start hiring account executives to build relationships in additional states. Initially, the focus will be on institutions in the Southwestern U.S., with plans to add lenders in Texas, Utah, Colorado and New Mexico in the early part of 2020, Ginsberg says.

“THERE IS STILL AN ENORMOUS AMOUNT OF ACTIVITY”

Though certain regions or business lines within commercial real estate may be experiencing some pullback, he says his overall outlook for the economy and commercial real estate remains strong. “There is still an enormous amount of activity,” he says. “If and when a correction does happen, it’s going to be a lot softer and not that deep and not that long because of the fundamentals in the economy.”

FINDING WAYS TO COMPETE MORE EFFECTIVELY WITH BANKS AND OTHERS

Some commercial real estate professionals say they are focusing more attention on sectors, regions and concentrations that the banks aren’t going after so readily.

If an alternative lender can offer more money than a bank on a particular deal or offer more flexible terms, or do deals that traditional lenders simply won’t do, for example, then it’s a boon for them. For a slightly higher price, alternative lenders—especially those whose business model relies heavily on technology—are able to take on slightly riskier deals than a bank might be able to stomach, says Jacob Goldsmith, managing partner of Goldwolf Ventures LLC, a privately held alternative investment and asset management company with offices in Miami and Austin.

“Alternative lenders are a lot more nimble,” says Goldsmith, who keeps close tabs on the commercial real estate lending industry.

restaurant 3dEspecially given the ambiguous economic climate, there are several areas that could be prime opportunities for savvy alternative commercial real estate lenders to gain a leg up. For instance, some banks of late have shied away from certain special purchase property types like hotels, day care facilities and free-standing restaurants, says Hurn of Fountainhead Commercial Capital. These types of properties are traditionally seen as riskier in the latter part of an economic cycle.

Nonetheless, “there’s opportunity here for non-traditional lenders to step in and fill that gap,” he says. Retail loans are another category where banks have been pulling back. One reason banks are being more cautious is the sentiment that as online shopping becomes more pervasive, there’s less of a need for brick-and-mortar shops. This trend is underscored by the recent announcement of Transform Holdco—the company formed to buy the remaining assets of bankrupt retailer Sears Holdings Corp.—that it would close 96 Sears and Kmart stores by the end of February. Still, some industry watchers aren’t ready to concede retail’s demise.

While these types of announcements fan fears, concern over the death of retail is largely overblown, according to Troy Merkel, a partner and real estate senior analyst at RSM, which provides audit, tax and consulting services. “The banks are being too overly cautious,” he opines.

The opportunity for alternative lenders, he says, is not in funding loans that add to the supply, but rather in funding loans that change the existing supply. While the need for new development may not be as great, there is a growing demand for repurposed properties, he says. This includes upscaling an older mall or turning an existing retail building into a mixed use property, namely a mix of retail stores and multi-family apartment complexes. There is still a real need for these types of developments, Merkel says, and with banks shying away, the door is open for alternative lenders to “make a play,” he says.

Real estate professionals say they also see opportunities for alternative commercial real estate lenders to make loans in areas outside major metro cities, where the competition isn’t as strong.

“There will always be opportunities in the ups and downs, the ebbs and flows of the cycle. You just have to be a lot smarter in this part of the cycle,” says Goldsmith of Goldwolf Ventures.

BECOMING RECESSION-PROOF

Pockets of opportunity notwithstanding, alternative commercial real estate lenders have to play it smart, professionals say. For instance, they should not be overly bullish on a particular sector or throw caution to the wind when it comes to their underwriting practices.

“THIS IS PROBABLY NOT THE TIME TO BE COMPLACENT ANYMORE”

That’s because when the market turns—as it inevitably will at some point—there will likely be more defaults and lenders that haven’t dotted their I’s and crossed their T’s will understandably face stronger headwinds. They need to keep their close eye on expenses as well, which may have ticked upward over the past several years. “People get complacent when times are good. This is probably not the time to be complacent anymore,” says Hurn of Fountainhead Commercial Capital.

Another protective measure against an eventual downturn is to diversify sales channels and property types. “If you put too many eggs in one basket, it’s a problem,” Hurn says.

retail storeIt’s also important for lenders to have their guards up since higher risk deals can lead to losses if a recession hits. Lenders have to be smart when it comes to taking on risk, says Tim Milazzo, co-founder and chief executive of StackSource, an online marketplace for commercial real estate loans. “They have to have a certain expertise in underwriting these transactions correctly and assessing risk,” Milazzo says.

In light of significant ambiguity about where the economy is heading, Gentry of Money360 says his company is protecting itself by taking an ultra- conservative approach. This means, for instance, only making first-lien position loans secured against income producing properties at a loan-to-value ratio on average of 65 percent, he says. Some alternative lenders are making these loans at a loan-to-value ratio of 80 percent or 85 percent, but Gentry says this is too high a rate for his taste. Also, Money360’s loans are also generally short- term—in the two-to-three-year range, which reduces some of the risk and seems especially prudent at this point in the cycle, he says.

When the market turns—as it inevitably will at some point—there will be more loan defaults, and those that are on the more aggressive end of lending will bear most of the challenges, he says.

He cautions other alternative lenders to avoid taking on excessive risk. “You’ve got to be thinking ahead and planning and lending as if the downturn is right around the corner—because it could be,” he says. Even taking a conservative approach, there are still significant business opportunities, he says.

BE ON THE LOOKOUT FOR RECESSIONARY OPPORTUNITIES

Meanwhile, if a recession does hit, alternative commercial real estate lenders say they will have even more opportunities to gain market share, participate in workout financing and hire key personnel. Alternative lenders that are more steeped in technology may potentially have even more of an upper hand since this can enable them to close deals much more efficiently and quickly and at a lower cost, while at the same time giving borrowers broader access.

“In a tighter market, every reduction in rate and cost will make more of a significant difference to borrowers than it does at the moment,” says Ginsberg of CommLoan, the commercial real-estate lending marketplace.

Although there are a growing number of alternative commercial real estate lenders who are relying more heavily on technology than they did in the past, commercial real estate lending still hasn’t flourished online to the extent personal and small business lending has. One reason is that the loans are larger and human intervention is often seen as beneficial, says Gentry of Money360.

However, online lending within the commercial real estate lending space is still on the horizon, according to Ginsberg of CommLoan. “It’s slow-go, but it’s inevitable,” he says.

Threads on deBanked


12-06-2020

Business Funding in Mexico...
the canadian market is very well established but next up is mexico, a country with a much larger population than canada...
07-01-2019

ISO Looking for an International Lending Partner...
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Found on DailyFunder:

11-04-2020

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mexico is bringing rapists here" and , , "the concept of global warming was created by and for the chinese in order to make u.s. manufacturing non-competitive." or , , "crazy joe biden is trying to act like a tough guy. actually, he is weak, both mentally and physically, and yet he threatens me, for the second time, with physical assault. he doesn’t know me, but he would go down fast and hard, crying all the way. don’t threaten people joe!" or , , "if the morons who killed all of those people at charlie hebdo would have just waited, the magazine would have folded - no money, no success!", , do y...
10-31-2020

See Post...
mexico to save money. he inherited (from obama) a decent economy and takes credit for that, and, dismisses covid as a real problem and the worst civil unrest is going on due to the far right and left in a war of political tension. if the only reason your voting for potus is corporate tax hikes, that doesn't help the majority of america. and let's not forget, with the house (dem) and senate (gop) any bill that is potential, has to pass both sides which rarely do. dems are looking to sweep this election with senate, house and, presidency. lets see what happens n...
10-30-2020

See Post...
mexico to save money. he inherited (from obama) a decent economy and takes credit for that, and, dismisses covid as a real problem and the worst civil unrest is going on due to the far right and left in a war of political tension. if the only reason your voting for potus is corporate tax hikes, that doesn't help the majority of america. and let's not forget, with the house (dem) and senate (gop) any bill that is potential, has to pass both sides which rarely do. dems are looking to sweep this election with senate, house and, presidency. lets see what happens n...