1 00:00:00.465 --> 00:00:01.045 Hey everyone. 2 00:00:01.045 --> 00:00:03.565 Alison Berger here at Broker Fair, 2024. 3 00:00:03.845 --> 00:00:07.125 I am now joined with Amir Hanham from Merchant Growth. 4 00:00:07.275 --> 00:00:08.445 Tell me about merchant growth. 5 00:00:09.045 --> 00:00:11.285 Pleasure to meet you. Do I hold it? No. 6 00:00:11.725 --> 00:00:13.765 Uh, so we're, we're a Canadian based funder. 7 00:00:13.765 --> 00:00:15.765 We've been around since 2009. 8 00:00:16.305 --> 00:00:17.885 Uh, we do all our work in Canada. 9 00:00:18.335 --> 00:00:19.925 We're, you know, all over the country 10 00:00:20.545 --> 00:00:23.165 and I have, this is my second or third broker fair. 11 00:00:23.285 --> 00:00:24.405 I really enjoy being here. 12 00:00:25.005 --> 00:00:27.485 I notice a lot more brokers entering our, our country. 13 00:00:27.585 --> 00:00:30.005 So I just wanna introduce us to the US 14 00:00:30.665 --> 00:00:32.125 And why are you so different 15 00:00:32.125 --> 00:00:33.245 than everyone else in the industry? 16 00:00:33.955 --> 00:00:35.085 Well, we've been around the longest, 17 00:00:35.445 --> 00:00:36.685 I believe at this moment. 18 00:00:36.825 --> 00:00:38.965 We do have, uh, the largest balance sheet. 19 00:00:39.025 --> 00:00:41.085 We, um, you know, as of a couple months ago, 20 00:00:41.505 --> 00:00:43.525 may have potentially hit that milestone 21 00:00:43.525 --> 00:00:45.965 of being the largest MCA lender in Canada. 22 00:00:46.785 --> 00:00:50.165 Um, another thing I I, you know, I always say is like, 23 00:00:50.305 --> 00:00:51.525 we are the most convenient 24 00:00:51.545 --> 00:00:52.925 access to capital in that country. 25 00:00:53.025 --> 00:00:55.405 And our, you know, our buy rates are pretty competitive. 26 00:00:56.345 --> 00:00:57.565 And how do you make that happen? 27 00:00:58.275 --> 00:00:59.845 Well, it's a experience, right? 28 00:00:59.865 --> 00:01:01.845 We spend a lot of time, money, 29 00:01:02.065 --> 00:01:04.165 effort into managing our risk. 30 00:01:04.645 --> 00:01:06.265 You know, it helps keeps our, you know, 31 00:01:06.265 --> 00:01:08.345 our loss rate a little bit lower than everyone else. 32 00:01:08.925 --> 00:01:11.425 And then we also try to run a tight ship, you know, 33 00:01:11.425 --> 00:01:14.505 keep your cost low, keep your, you know, default low 34 00:01:14.525 --> 00:01:16.065 and you can charge a little bit less. 35 00:01:16.525 --> 00:01:18.705 How has your ship been sailing so far this year? 36 00:01:19.245 --> 00:01:21.865 Uh, it's been, it's been a great year for, you know, those 37 00:01:21.865 --> 00:01:24.145 of you that aren't in Canada, um, 38 00:01:24.365 --> 00:01:27.625 we had this massive campaign called, uh, siba, refis, 39 00:01:27.625 --> 00:01:29.745 those same, you, those government loans back when, uh, 40 00:01:29.745 --> 00:01:32.105 COVID first hit and there was a deadline 41 00:01:32.205 --> 00:01:33.785 to pay just two months ago. 42 00:01:34.405 --> 00:01:37.065 So we were like, it was the best quarter we've ever had, 43 00:01:37.125 --> 00:01:38.425 you know, we're happy to be here. 44 00:01:39.005 --> 00:01:41.305 Uh, you know, as well, we helped quite a few US 45 00:01:41.305 --> 00:01:42.625 brokers help their clients. 46 00:01:43.245 --> 00:01:45.305 Uh, so, you know, business is good. Can't complain. 47 00:01:45.485 --> 00:01:47.705 That's fantastic. And it's gonna continue to sail 48 00:01:47.705 --> 00:01:48.825 that way through the rest of the year. 49 00:01:49.225 --> 00:01:52.825 I mean, uh, you know, now that the big project is done, 50 00:01:53.245 --> 00:01:55.265 um, we are a little bit slower, 51 00:01:55.445 --> 00:01:57.945 but if I just compare it year over year, uh, 52 00:01:57.965 --> 00:01:59.345 we can always see a nice growth. 53 00:01:59.965 --> 00:02:01.985 Our, um, risk team, our new data, 54 00:02:02.125 --> 00:02:03.745 new data we keep acquiring, 55 00:02:03.805 --> 00:02:07.425 and our data scientists have helped us actually maintain our 56 00:02:07.425 --> 00:02:10.385 loss rate, even though like funding has gone up, 57 00:02:10.445 --> 00:02:11.625 uh, you know, two, three x. 58 00:02:12.595 --> 00:02:13.855 And what type of trends have you 59 00:02:13.855 --> 00:02:14.895 been seeing going on lately? 60 00:02:15.685 --> 00:02:19.815 Well, right now it's, uh, people are much, 61 00:02:19.815 --> 00:02:21.695 much slower in making a decision. 62 00:02:22.275 --> 00:02:23.655 So, you know, we used 63 00:02:23.655 --> 00:02:25.775 to fund an average deal would take a day 64 00:02:25.775 --> 00:02:27.735 or two to fund, whereas now it's starting 65 00:02:27.735 --> 00:02:29.255 to get into three, four days. 66 00:02:29.355 --> 00:02:32.295 And it's really just the, the customers take longer 67 00:02:32.355 --> 00:02:34.095 and longer to make a final decision. 68 00:02:34.595 --> 00:02:36.095 You gotta teach Canadians how 69 00:02:36.095 --> 00:02:37.735 to do things in a New York minute. I, 70 00:02:37.895 --> 00:02:39.775 I would love to do that, but first teach me 71 00:02:41.355 --> 00:02:42.355 On the next interview. 72 00:02:42.875 --> 00:02:47.175 So, uh, I'm getting 32nd bro, broker bites from everyone. 73 00:02:47.285 --> 00:02:48.335 What were you looking forward 74 00:02:48.355 --> 00:02:50.015 to most this year at today's event? 75 00:02:50.715 --> 00:02:51.735 Uh, to be honest, uh, 76 00:02:51.735 --> 00:02:54.895 we built quite a few relationships over the past few years. 77 00:02:55.195 --> 00:02:57.855 Uh, so I really wanted to come meet a few of our brokers 78 00:02:58.275 --> 00:03:02.325 and my colleague here, um, he's never met anyone in person, 79 00:03:02.665 --> 00:03:06.125 so I honestly just wanted to, you know, put him in one venue 80 00:03:06.125 --> 00:03:08.925 where he gets to meet all of these people that we work with 81 00:03:09.425 --> 00:03:10.805 and, you know, that's just gonna help us, 82 00:03:10.805 --> 00:03:11.885 you know, build more business 83 00:03:12.465 --> 00:03:13.465 And that's all we need. Right? 84 00:03:13.465 --> 00:03:14.685 Yep. Great. 85 00:03:15.255 --> 00:03:16.965 Thank you for spending some time with me 86 00:03:17.545 --> 00:03:18.525 and we'll be right back.