Today, the clap note still remains an exclusive investment vehicle for well-heeled investors. However, the actual origination of the instruments has shifted from the lender to the borrower, with servicing companies managing the payments to the investors on behalf of the borrowers. Companies that require ongoing expansion of their outlet networks still use this method to raise capital at times when real estate values drop. This includes gas station networks, fast food chains, drug store and pharmacy chains as well as muffler, transmission and brake repair workshops. The fact that clap notes are always backed by real estate makes them far more secure than most other investments that yield similar rates of return.