NAVIGATION

December 5, 2016

CEO Sounding Board

Florida CEOs answer: Is credit available from lenders?

Mike Vogel | 10/4/2011
Juan Vega
[Photo: Daniel Portnoy]

Manufacturing
Juan Vega
President - Britt Metal Processing - Miami Gardens

"The consensus is that banks are no longer lending against inventory. There are no banks anywhere lending against receivables. So they force you to go to factoring. Prior to the meltdown in 2008, we had a credit line. They allowed you up to 75% of your receivables and up to 40% to 50% of inventory. Now they don't allow anything. In our industry, we have a very long conversion period — the time I acquire the material to the time I collect. Since I don't have enough credit to cover that span, it restrains me from growing."


Tags: Trendsetters, Banking & Finance

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Victorian Christmas Stroll
Victorian Christmas Stroll

Take a trip back to Christmas 1891 at Tampa Bay Hotel during the Henry B. Plant Museum’s 35th Annual Victorian Christmas Stroll through Dec. 23, 10 AM - 8 PM daily. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

With crude facing its largest weekly rally since '09, are you worried about gas prices this holiday season?

  • Not at all!
  • Maybe... a bit...
  • Yes! The Grinch is nigh!

See Results

Ballot Box
Subscribe