According to the Wall Street Journal, many banks are “much more selective about the risky lending and financing they provide.”  They are only making loans to their best customers. Thus, the diet. 

Much of this is because of regulatory pressures and that many would be borrowers are self-selecting not to borrow at high interest rates. However, even without these pressures, many banks would still not be lending except to their best customers.

Banks are focused on their deposit profile and not offering loans to businesses except those who bank with them and generate full relationships.

What does that mean for winery financing? Unless you have a long-term relationship with a bank and you have exceptional credit, it is unlikely that you can find a bank to finance winery equipment.

However, there is a solution. Finance companies, such as Dimension Funding, are filling in the void. We can finance winery equipment, both new and used.  Obviously, interest rates are higher than last year at this point, but not so high where borrowing would be prohibitive. The demand for wine is expanding and in order to meet that increased demand, financing with Dimension Funding can make sense. Speak with our winery financing specialist, John Gallagher, to see if financing is the right choice for your winery.

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