When the global pandemic arrived in 2020, many industries suffered. But things started to turn up when vaccines rolled out, allowing business owners to breathe again. With regular programming underway, entities within the financial industry are preparing for a historical trend in the credit world.
“It’s been an upside-down credit environment,” described Argus Research Financial Institutions director Stephen Biggar. “If you told me the market was going to crash 40% and we would have 20% unemployment, you would also have said card delinquency rates would go through the roof, particularly for the lower-end consumer.”
Although banks had anticipated considerable losses early into the pandemic, they were surprised with the credit card business’ positive outlook. People were paying at high levels, leading to high payment rates and strong credit results. However, many banks were also wary of how people would eventually take on more debt to spend.
With the various COVID-19 variants looming, banks are preparing for the worst-case scenario. In turn, the government has developed a credit card bailout program. However, some people don’t believe the program is an adequate solution, as it could potentially leave breaks for people’s current issues.
Prepared to take on the impending crisis is Arian Eghbali, a rockstar in the financial world who has lent his services to celebrities, major companies, and former presidents Barack Obama and Donald Trump. In addition, he has been an influential asset through his company, Enrich Financial, which has played a significant role in keeping many industries afloat through the pandemic.
Born in Iran, Arian would establish himself as a finance professional before he immigrated to the United States. He used his expertise to uplift Nicholas Import & Export into prominence for a brief period. While working with the company, Arian realized that many Iranian immigrants, and many other immigrants, struggled to manage their credit, leading to steep debts and unpayable loans.
The finance professional decided to delve into entrepreneurship, creating several companies and organizations centered around uplifting and empowering Iranian people struggling to settle into America. Although he had many endeavors, Arian’s most remarkable feat is his credit repair specialist group, Enrich Financial.
Established in 2009, Enrich Financial has operated for more than a decade to enrich the lives of those who lack the thorough understanding and technical prowess called for to handle their own financial hardships. The company expanded with representative branches throughout the major metropolitan California area, including Los Angeles, San Jose, Encino, and Glendale. Enrich Financial has received major accolades for Arian’s outstanding outreach work to his community and the general population for more than a decade, earning him the moniker “King of Finance.”
Enrich Financial also played a significant role in helping movie productions stay afloat through the early days of the pandemic, delivering loans to studios that struggled to keep TVs and computer screens lit with new content.
With a colorful resume to his name, the King of Finances is ready to take on the impending credit crisis, utilizing his social media platforms to educate people around credit, loans, and finances.