Lenders painted a less than rosy picture of the Florida lending market at the Florida Chapter Turnaround Management Association's meeting. All five speakers on the TMA Lender's Round Table echoed the same story: credit is still tight and companies in general are reducing their borrowing levels. Financing opportunities still exist for lenders looking to improve liquidity or to finance mergers and acquisitions. However, speakers at the TMA meeting said fewer potential borrowers are visible in the market, and they are being held to a tighter credit policy.
James McArthur of A/R Funding, Clearwater, a factoring firm for smaller companies, said the war in Iraq has increased government contracts to some businesses and his firm is currently providing financing for companies that make temporary runways and tent bottoms. "The federal government is helping small businesses by streamlining procedures so they can use factoring."
