1 00:00:00.185 --> 00:00:00.725 Hey everyone. 2 00:00:00.725 --> 00:00:01.725 Alison Berger here. 3 00:00:01.785 --> 00:00:04.205 I'm at the B2B Finance Expo in Las Vegas. 4 00:00:04.545 --> 00:00:07.125 I'm now joined with Rocco Otti of Merit funding. 5 00:00:07.415 --> 00:00:10.285 Merit Business Funding. Excuse me. How's it going so far? 6 00:00:10.435 --> 00:00:11.925 It's going well. It's going really well. 7 00:00:12.025 --> 00:00:13.845 I'm actually here representing Merit 8 00:00:14.165 --> 00:00:15.245 Business, uh, funding as well. 9 00:00:15.665 --> 00:00:18.965 And, uh, Meridian Bank we're, uh, uh, full service bank 10 00:00:19.305 --> 00:00:21.965 and a very large SBA lender in the, in the space, 11 00:00:21.965 --> 00:00:25.405 which is pretty popular these days with, uh, the MCA space. 12 00:00:26.035 --> 00:00:27.685 Tell me, what have you seen change 13 00:00:27.695 --> 00:00:29.005 since we last spoke in May? 14 00:00:29.625 --> 00:00:32.325 Uh, actually this, this group's been a little bit larger. 15 00:00:32.865 --> 00:00:35.845 Um, I think that, uh, from our personal standpoint, 16 00:00:36.055 --> 00:00:38.645 we've grown, uh, from there, uh, 17 00:00:39.205 --> 00:00:40.285 'cause we are sort of a startup. 18 00:00:40.825 --> 00:00:44.085 So, uh, that's from my perspective, that's what I've seen. 19 00:00:44.585 --> 00:00:45.565 And how are you doing this? 20 00:00:45.565 --> 00:00:46.445 How are you making this happen? 21 00:00:46.835 --> 00:00:48.285 Yeah, I guess a lot of hard work, 22 00:00:48.465 --> 00:00:51.045 but, uh, I think our product's resonating, uh, 23 00:00:51.045 --> 00:00:53.285 because we're a bank, we have a cheaper source of capital 24 00:00:53.865 --> 00:00:55.045 and so we're able to go out there 25 00:00:55.045 --> 00:00:56.645 and win more business that way. 26 00:00:57.305 --> 00:00:58.925 And who's your end user these days? 27 00:00:59.385 --> 00:01:02.125 Uh, end user. Uh, certainly the, uh, typical, 28 00:01:02.505 --> 00:01:03.965 uh, merchants that are out there. 29 00:01:04.365 --> 00:01:08.525 A lot of, uh, restaurants, a lot of contractor types, a lot 30 00:01:08.525 --> 00:01:10.285 of, you know, general small businesses. 31 00:01:10.945 --> 00:01:12.565 And you've already mentioned you've been 32 00:01:12.565 --> 00:01:13.845 growing since we last spoke. 33 00:01:13.905 --> 00:01:15.925 How do you see you're gonna end up, end the year out? 34 00:01:16.305 --> 00:01:17.845 Uh, hopefully grow with growth. 35 00:01:17.985 --> 00:01:20.045 Um, I'm not sure what interest rates do 36 00:01:20.045 --> 00:01:21.605 to the business since I'm new to it. 37 00:01:21.605 --> 00:01:24.005 Mm-Hmm. Uh, so hopefully that's, that'll be a test. 38 00:01:24.305 --> 00:01:27.085 Uh, but we just opened an office in, uh, Miramar, 39 00:01:27.085 --> 00:01:28.365 which is right outside of Miami 40 00:01:28.905 --> 00:01:30.525 and, uh, fully staffed that office. 41 00:01:30.625 --> 00:01:33.285 So we're, uh, actually turning things around a lot faster, 42 00:01:33.655 --> 00:01:35.725 which is turning into a lot more funding. 43 00:01:36.105 --> 00:01:38.045 So growing in locations, not just in business. 44 00:01:38.485 --> 00:01:41.165 Absolutely. Yeah, definitely. We, uh, Pennsylvania is 45 00:01:41.165 --> 00:01:43.645 where we're headquartered, but now our, uh, our, 46 00:01:43.715 --> 00:01:45.445 this company's now in pretty much 47 00:01:45.445 --> 00:01:47.245 headquartered in Miami area. Yeah. 48 00:01:47.315 --> 00:01:49.165 Have you seen, how has that affected your business? 49 00:01:49.625 --> 00:01:51.365 Uh, we've been able to attract some, uh, 50 00:01:51.965 --> 00:01:54.565 probably better talent, let's call it that way down there. 51 00:01:54.745 --> 00:01:56.005 Um, and it's nice and warm 52 00:01:56.025 --> 00:01:57.805 and people like that too. So that's 53 00:01:57.865 --> 00:02:00.045 Better talent than in Pennsylvania and New York? 54 00:02:00.665 --> 00:02:02.565 Uh, probably not. I wouldn't put New York in there, 55 00:02:02.625 --> 00:02:05.645 but Pennsylvania maybe, uh, it's not known as a hotbed of, 56 00:02:05.645 --> 00:02:07.245 uh, you know, MCA space. Yeah. 57 00:02:07.865 --> 00:02:10.085 That's great. And where have the trends been going? 58 00:02:10.115 --> 00:02:11.125 What have you been seeing? 59 00:02:11.725 --> 00:02:14.165 I think the trends for us as we've been moving up market a 60 00:02:14.165 --> 00:02:18.045 little bit, so we were now able to do up to 500,000, um, 61 00:02:18.385 --> 00:02:21.685 and uh, where we were generally doing like 150 and under. 62 00:02:21.945 --> 00:02:24.045 So that's really helped our growth, as you can imagine, 63 00:02:24.395 --> 00:02:27.085 also better quality merchants, uh, 64 00:02:27.185 --> 00:02:30.085 and our payments, uh, they're getting paid back on time, 65 00:02:30.085 --> 00:02:31.205 which is really great as well. 66 00:02:31.785 --> 00:02:33.205 I'm glad to hear all the good news. Yeah. 67 00:02:33.205 --> 00:02:34.925 Thanks for joining me again. Thank you. 68 00:02:35.065 --> 00:02:38.365 So stay tuned for more from the B2B Finance Expo. That's.