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Rotay Capital Finance provides lending and business capital services during COVID 19
Stephen Rotay, president and owner of Rotay Capital Finance, provides expanded capabilities in lending business capital to small, medium and large-sized businesses during the new challenges of coronavirus (COVID-19).
By: Rotay Capital Finance
According to Steve Rotay, company owner, the coronavirus outbreak is causing widespread public concern and economic impact for individuals and businesses across the globe. "The situation is fast-moving. Most traditional lenders and servicers must contend with evolving regulatory requirements, risks of regulatory and litigation scrutiny, and management of a volatile financial environment, among others," said Rotay. "It's our expertise to understand financial options for businesses. That includes minute-by-minute updates on assistance programs like Small Business Administration (SBA) offerings."
"The pandemic and its impact on the financing industry has prompted a significant private and government lending response. We are currently working constructively with borrowers affected by COVID-19. There are many entities that specialize in loans and loan modifications which can be in place to prevent borrower harm, and improve loan performance and credit risk," said Rotay.
"For example, we work with our clients to categorize their loan modifications as troubled debt restructurings. And, we suggest short-term modifications made in good faith and in response to COVID-19 to borrowers who were current with payment deferrals, fee waivers, and extensions of repayment terms, and more," he said. "We are having success with solving financial problems and relationships with numerous lending vehicles along with expertise in SBA support."
Rotay Capital Finance is equipped to develop programs to prevent significant disruptions to business operations while monitoring potential outbreaks and providing client-centered education. The firm is in constant communication with service providers, lenders, and government agencies during the pandemic. A comprehensive framework is in place for maintaining critical business operations despite employee unavailability and infrastructural disruptions and, to avoid traditional lenders, a rush to refinance, plus other potential obstacles.
Rotay added, as the economic circumstances of many borrowers can change quickly, lenders must work hard to understand shifting dynamics. For more information, call 717-299-9998 or email srotay@RCFinance.com. Visit the website at https://rcfinance.com/