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Saturday, Feb 4, 2023

‘Too Soon’ for Forecasts

“While it is too soon to assess the long-term economic impact of the pandemic on real estate values or demand for debt financing, our considerable operational track record and experience will help us successfully navigate this rapidly evolving environment,” Chris Farrar, chief executive of Velocity Mortgage Capital in Westlake Village, told shareholders in an update on March 18. At the end of February, the lender had a loan portfolio of $2.1 billion, up 30 percent from a year ago, with 90 percent of the total loans held for investment. … If you normally spend half your workday prospecting for new business, what do you do when the coronavirus closes many workplaces? R. Craig Allen, account executive with Sharp Business Systems in Simi Valley, said he’s figured out how to be more strategic. Rather than just knocking on doors in a neighborhood, he targets businesses and organizations that might have need for his products because of the virus. Churches, for example, need to do more online, he said. “Otherwise,” he said, “it would just be down time.” … California Virtual Academy has timed the market well. The Simi Valley company, which operates nine independent online public schools for K-12 students, has started signups for the 2020-2021 year just as schools close for the coronavirus. The curriculum focuses on “those who seek alternative pathways to education,” with special emphasis on high schoolers ambivalent about which career to follow. “With college costs spiraling out of control nationwide, it’s good to get an idea of what you want to do before you get there,” according to Head of School April Warren. “Our career program lets students try new things and get a sense for the options.” … Simulations Plus Inc. has named Sandra Suarez-Sharp as vice president of regulatory affairs. She previously worked at the Food and Drug Administration. She plans to use her experience to help clients of the Lancaster company streamline the approval process and get drugs to market faster. … Commercial real estate broker Don Hudson has joined Kidder Mathews’ Tri-Cities office as a senior vice president, where he will specialize in the sale and leasing of office and industrial properties. Hudson previously worked at Coldwell Banker Commercial. Publisher Charles Crumpley contributed to this Valley Insider, which is compiled by Editor Joel Russell. Send submissions to jrussell@sfvbj.com.

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