tag:blogger.com,1999:blog-2855702741602123705.post8232021802693704504..comments2023-10-12T03:01:51.799-07:00Comments on RRW Consulting's Direct Marketing Blog: Direct Marketing and the Impact of the EconomySuzanne Ortizhttp://www.blogger.com/profile/02454692691964469323noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2855702741602123705.post-81506825094121809082007-10-30T08:34:00.000-07:002007-10-30T08:34:00.000-07:00Yes, you're right, Marianne. On the business side,...Yes, you're right, Marianne. On the business side, it does often happen that small businesses can only get their start with more aggressive lending from some of the more creative B2B lenders.<BR/><BR/>There is definitely a place for "sub-prime." Even on the consumer side, it could help a person who, for whatever reason, is coming back credit-wise, from some type of personal hardship. <BR/><BR/>I guess the key is that this type of lending has to be done with some forethought so that you don't have millions of people who probably could never pay anyway receiving this financing -- and then failing. And failing enough to make a substantial impact on the economy.<BR/><BR/>Thanks for your comment!Nancy Arterhttps://www.blogger.com/profile/09014032126362464952noreply@blogger.comtag:blogger.com,1999:blog-2855702741602123705.post-47965015406772937372007-10-29T20:13:00.000-07:002007-10-29T20:13:00.000-07:00I could not agree more that many of the residentia...I could not agree more that many of the residential subprime and stated income loans have been problematic. However, there is a commercial lending benefit to keeping this loan type alive. Financial institutions like <A HREF="http://www.oceancapitalonline.com" REL="nofollow">Ocean Capital in Rhode Island</A> maintain an up close and personal policy with the commercial lending that they do to folks trying to start a business and who may not have a portfolio substantial enough to make them attractive borrowers to the big box lenders. Sometimes, you have to purchase the gas station, auto repair shop or motel to generate revenue. Subprime commercial lending is oftentimes the only opportunity for certain new business developoment and should be retained.mariannehttps://www.blogger.com/profile/06150052824044936121noreply@blogger.comtag:blogger.com,1999:blog-2855702741602123705.post-49595619241003125822007-10-29T16:57:00.000-07:002007-10-29T16:57:00.000-07:00I hear ya, Ted. I've got some friends and clients...I hear ya, Ted. I've got some friends and clients that have become the carnage from some of the subprime lenders in Orange County -- many of whom no longer exist. <BR/><BR/>They tried to tell their leadership that the lending criteria was off base -- to no avail due to the exact reason that you cited. <BR/><BR/>The result: they lost their jobs, some of the "leaders" lost their companies, and the people who took the loans lost their homes.<BR/><BR/>Talk about a Lose-Lose Scenario!Nancy Arterhttps://www.blogger.com/profile/09014032126362464952noreply@blogger.comtag:blogger.com,1999:blog-2855702741602123705.post-69586032460672334052007-10-29T16:45:00.000-07:002007-10-29T16:45:00.000-07:00I have a close friend and colleague who works for ...I have a close friend and colleague who works for Countrywide. He knew that their marketing program was off balance. Loans were made that should have never happened.<BR/><BR/>But corporate greed took the lead in spite of what he proposed as a sound direct marketer.<BR/><BR/>When the customers' needs come first, the companies do well. When shareholders' needs come first, then the company should expect an Enronic outcome.<BR/><BR/>TedAnonymousnoreply@blogger.com