Lenders are making loans, but they are sticking to their specific customer focus, they’re innovative where possible and they look for the basics, such as how their money will be used.
About 60 members and guests of the Association for Corporate Growth North Florida chapter listened and learned from a panel of three bankers Thursday at The River Club Downtown.
“The economy has been a significant drag on lending opportunities,” said panel moderator Chuck Hedrick, a partner in Jacksonville with the Foley & Lardner law firm and chair of its finance and financial institutions practice.
Panelists were Debbie Buckland, executive vice president and commercial line of business manager for SunTrust Bank’s North Florida Region; John Willis, vice president with PNC Business Credit; and Curt Cunkle, president of EverBank’s North Florida Banking Group.
Among their insights:
• Real-estate lending depends on the type of real estate. Owner-occupied developments and multifamily projects are easier to finance than some other types.
• The residential real estate market is still slow and will take time to recover.
• Customers are encouraged to weave a safety net of lenders to call upon, especially as they grow, but shouldn’t stretch their loyalties too thin.
• Customers seeking loans for working capital or growth should expect to tell lenders exactly where the money will be spent.
• Asked if they would recommend banking as a career to their son, daughter, niece or nephew, they said yes, with some “depending on” insights.
Young adults seeking autonomy in decision-making probably need not apply. “We live in a more bureaucratic system when it comes to dispensing credit,” said Willis. “It’s a regulated market. You have to check your temperament.”
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