I’m pleased to announce that today, finally, we’ve been able to fully integrate late and non performing business debt data into BankProspector. As with the other asset types (commercial real estate, multifamily, construction, residential, and land). Members can search for and find banks with late and non-performing C&I or business debt.
For those who do not know C&I stands for “Commercial and Industrial”. C&I loans as Investopedia defines it are:
Any type of loan made to a business or corporation and not to an individual. Commercial and industrial loans can be made in order to provide either working capital or to finance major capital expenditures. This type of loan is usually short-term in nature and is almost always backed with some sort of collateral.
“Asset Based Lending” activity falls into the C&I bucket.
With this release we aim to satisfy some subscribers and their need to identify banks and bank contacts with distressed asset based lending portfolios.
As BankProspector has grown we’ve had an increase in the variety in our membership. Some of our subscribers are in the collections industry, many are in private equity or related professions and this is our first step toward broadening the BankProspector offering to accomodate these professionals. We hope that you find this data useful.