Jeff Camilleri recently offered insights to St. Louis Small Business Monthly for business owners who are navigating financing options for the remainder of 2024.  Jeff, Executive Vice President and Chief Banking Officer at CNB, discussed strategies for securing financing with an informed outlook on the financial landscape for the remainder of the year ahead of us.

Below is a recap of the Q&A published by St. Louis Small Busines Monthly's June 2024 issue:

Lending Advice for Business Owners for the Rest of 2024:

Navigating the remaining financial landscape of 2024 poses challenges and opportunities for businesses seeking capital. While interest rates remain steady, regional banks have tightened their lending criteria amidst decreased liquidity and rising funding costs.

Despite these challenges, our commitment at CNB St. Louis bank is: Banking. For You. We prioritize relationships, transparent communication, and personalized guidance to help businesses overcome hurdles and achieve success. Some things you should consider when thinking about navigating the complexities of financing for the remainder of the year: 

Outlook for Capital:
  • Despite static interest rates, the outlook for capital remains favorable, especially with local banks.
  • Regional banks are adopting a more conservative stance due to decreased liquidity and rising funding costs.
  • Our commercial lending team surpassed loan growth projections in the first half of 2024, indicating sustained demand for capital despite market conditions.
Lending Criteria & Underwriting Standards:
  • While some banks have tightened criteria, our focus remains on relationships and understanding clients' growth strategies.
  • Transparent communication, robust financial documentation, and clear alignment with growth goals are key for successful financing.
Lending Criteria & Underwriting Standards:
  • Economic uncertainties, regulatory changes, and market dynamics pose challenges.
  • Volatility in financial markets can limit capital availability and impact collateral values and loan-to-value ratios.
  • Our commitment to strong relationships and personalized guidance helps businesses navigate obstacles and thrive.
At CNB St. Louis Bank, we are dedicated to partnering with businesses to achieve their growth goals and financial success.

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