Zachary Ellis, Commercial Credit Group, responds to several news stories about banks seizing assets from small businesses connected to the oil and gas industry.
Ellis continues saying in some areas of Shale Play USA he is hearing the words “fire sale” and “closing shop” as more companies are getting left out of the Payroll Protection Program and other CARES Act subsidies.
Factoring and credit scores are also discussed in the interview. Ellis says more and more people are starting to inquire and pull the trigger on alternative financing because of the flexibility and mobility of the loans.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.
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