From the number of lenders to low interest rates to economic development services, this is an excellent time for Greater Lehigh Valley businesses to obtain capital, according to John Kingsley.
From the number of lenders to low interest rates to economic development services, this is an excellent time for Greater Lehigh Valley businesses to obtain capital, according to John Kingsley.
Kingsley would know. As vice president of finance at Lehigh Valley Economic Development Corp., he works with companies, mostly small businesses, to help them find financing for any number of needs.
“It’s a very, very good environment for companies to be borrowing, and it is perhaps the best I’ve seen in my career,” he said in an exclusive interview with Lehigh Valley Business.
Directing the finance department at LVEDC, Kingsley is at the forefront of the commercial lending environment and knows what businesses need to successfully navigate the many lending options.
“This area has a target on it for a lot of businesses in terms of where they see potential location and growth for obvious reasons. Where we are located, the types of economic assets we have in this area,” said Kingsley, who has more than two decades in economic development and financing. Eight of those years are at LVEDC, the nonprofit public-private partnership that drives development and business in Lehigh and Northampton counties.
“I think we are going to continue to see great recruitment opportunities,” he said.
Kingsley, interviewed in LVEDC’s Bethlehem office, also talked about lending sources, how to qualify for a business loan and what he thinks the lending environment will look like over the next six months to a year.
LVB: What’s the outlook for companies getting financing for capital? What’s the environment like for small businesses in the Lehigh Valley? Good, bad, average?
Kingsley: It is as robust as we have ever seen it. We have more than 30 different private institutions engaged in commercial lending in the Lehigh Valley, and I would suggest that they are very aggressive with credit-worthy borrowers.
We are seeing rates pretty much as low as they have ever been. The terms and conditions associated with the loans favoring borrowers, perhaps to a greater extent than they have in the past. We are seeing fixed rates as long as 10 years. This is a great commercial lending environment.
