Podcast 151: What Happens in the Bad Times: Tom Reilly on Financing Relationships, Not Deals

From Monitor's Podcast+ · 00:36:43

Show by Monitor

What's the one question every contractor should ask their lender, and almost never does? For Tom Reilly, division president of construction equipment finance at 1st Source Bank, it's simple: what happens in the bad times?In this episode, Monitor Editor-in-Chief Rita Garwood talks with Reilly about the relationship-first philosophy that's shaped his 35 years in the industry, why his team refuses to call financing a ‘deal,’ and what it takes to keep a contractor's equipment, and business, running through the slow seasons.They discuss:• Why “bleeding yellow” became personal, and what it taught him about the construction industry• How growing up in operations shapes the way he underwrites deals today• What's driving equipment costs, from a $10,000 Caterpillar D8 in 1935 to nearly $1 million now• The difference between a same-day funding and a deal that takes weeks• What contractors get wrong about matching loan terms to job length• The one question every contractor should ask their lender before a big purchase#ConstructionEquipment #EquipmentFinance #ConstructionIndustry #MonitorPodcast

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