New York City, New York – 01/05/2021: As the nation reels from the aftermath of the lockdown earlier this year and struggles to adapt to the conditions enforced by the pandemic, financial experts are predicting what the upcoming year may look like for different industries. The construction industry in particular has been badly hit and continues to face the economic crises caused because of the pandemic. While it’s difficult to say what the following year may hold based on the unpredictability of COVID-19 pandemic itself, Joe Malvasio has shed some light for what the construction industry may have to deal with in 2021.
Sharing his opinions regarding construction industry trends, Joe Malvasio stated, “After an initial rebound, the construction industry is once again struggling. There has been little growth in the sector this year thanks to the COVID-19 pandemic, and to be honest, things don’t look too promising for the first half of 2021. There is little reason to believe that the industry will pick up pace and profit in the first half of next year, and it’s extremely likely that construction companies and commercial real estate will be in severe need of private lending following this year’s financial setback”.
As the President of Global Capital Partners Fund, Joe Malvasio has almost 30 years of experience working with clients within the construction industry. He has helped businesses with a number of commercial construction projects by providing them with the right financing solutions. From land development loans and interim construction loans to takeout loans, Joe Malvasio has successfully helped construction companies and real estate brokers receive the type of financing they need for high-scale projects.
Shedding light on what private lending trends are likely to be popular in the construction industry next year, Mavasio further stated, “I expect construction companies to opt for the mini perm loan next year to get temporary financing for settling outstanding construction or commercial property loans. Since the pandemic has delayed work this year, it’s likely that construction companies will need a lending option to payback existing outstanding loans”.
Over the years, Joe Malvasio has built a staggering reputation in commercial real estate lending. His vast experience and acute knowledge of industry specific trends and economic activities has helped him gain a loyal clientele. With his team at GCP Funds, he provides exemplary lending and financing solutions to businesses from all sorts of industries. He particularly specializes in providing consultation and financing solutions for commercial real estate projects.
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