1 00:00:00.585 --> 00:00:01.085 Hey everyone. 2 00:00:01.085 --> 00:00:03.805 Alison Berger here at Broker Fair 2024. 3 00:00:04.065 --> 00:00:07.365 I'm now joined with Richard Lofter of CSB Capital funding. 4 00:00:07.915 --> 00:00:09.125 Tell me about CSB. 5 00:00:09.825 --> 00:00:11.445 Um, well, we are a, uh, 6 00:00:11.445 --> 00:00:14.485 equipment finance invoice factoring, working capital 7 00:00:14.985 --> 00:00:18.565 and bridge loan brokerage, uh, located in Long Island. 8 00:00:19.345 --> 00:00:23.045 Um, we, uh, we've been doing this now for about two years 9 00:00:23.785 --> 00:00:26.685 and, um, yeah, I came here to be, to bank to, uh, 10 00:00:26.945 --> 00:00:30.545 to see all the, uh, the offerings that you guys had. 11 00:00:30.685 --> 00:00:32.265 Um, and it's really interesting. 12 00:00:32.265 --> 00:00:33.705 This is my first time here. Very pleased. 13 00:00:34.205 --> 00:00:35.505 I'm happy to hear that. So you're 14 00:00:35.505 --> 00:00:36.625 kind of new on the scene. 15 00:00:36.735 --> 00:00:38.865 What it's been like for you joining the industry? 16 00:00:40.665 --> 00:00:45.355 Difficult. Um, honestly, I think this is probably one 17 00:00:45.355 --> 00:00:47.355 of the most difficult times to do what we do, 18 00:00:47.645 --> 00:00:50.875 given the economy, um, given where interest rates are 19 00:00:50.875 --> 00:00:54.315 and everything, um, um, on the bridge loan side of things, 20 00:00:54.535 --> 00:00:55.835 um, a little bit better. 21 00:00:56.495 --> 00:00:58.595 Um, but on the small business side of things, 22 00:00:58.855 --> 00:01:00.595 um, it, it, it's tough. 23 00:01:00.595 --> 00:01:02.955 That's one of the reasons why I decided to come 24 00:01:02.955 --> 00:01:05.915 to this conference to see if, um, you know, 25 00:01:05.915 --> 00:01:08.195 maybe there were some other products that I could look into. 26 00:01:08.655 --> 00:01:11.355 Um, honestly, I just think that, um, you know, 27 00:01:11.355 --> 00:01:16.275 once 2024 ends, once the rates come down, um, 28 00:01:16.425 --> 00:01:18.595 hopefully, um, if things stabilize, 29 00:01:18.655 --> 00:01:20.395 people are gonna come off the sidelines 30 00:01:20.415 --> 00:01:21.835 and start borrowing some more. 31 00:01:22.375 --> 00:01:24.035 So my attitude is if you can get 32 00:01:24.035 --> 00:01:27.035 through this rough patch, you can get through anything. 33 00:01:27.215 --> 00:01:30.435 You know, this to me is sort of not as bad, 34 00:01:30.495 --> 00:01:33.915 but kind of like the, uh, the 2008 crisis. 35 00:01:34.625 --> 00:01:38.515 Yeah. So you, are you hopeful for the rest of the year 36 00:01:38.515 --> 00:01:40.155 or you're kind of ready for the year to end? 37 00:01:40.255 --> 00:01:42.355 So we'll have a fresh start for 2025? 38 00:01:42.865 --> 00:01:45.635 Yeah, I'm hoping for it to end, to be honest with you. 39 00:01:46.055 --> 00:01:48.075 Um, I'm actually looking into, uh, 40 00:01:48.465 --> 00:01:50.595 into different products right now and, and, and, 41 00:01:50.595 --> 00:01:52.555 and segueing into different things for my business. 42 00:01:53.055 --> 00:01:54.635 Um, not that I don't think 43 00:01:54.635 --> 00:01:57.115 that small business lending won't come back, um, 44 00:01:57.695 --> 00:01:58.795 to, uh, to the heyday. 45 00:01:58.795 --> 00:02:00.155 It once was. Um, 46 00:02:00.175 --> 00:02:03.035 but just something to hedge my bets until 2025. 47 00:02:03.695 --> 00:02:06.315 Um, but yeah, that's, that's where I am right now. 48 00:02:06.335 --> 00:02:08.355 Understandable. So let's get back to you. 49 00:02:08.975 --> 00:02:11.035 Why should clients come and choose you? 50 00:02:12.585 --> 00:02:15.515 Well, for one thing, um, I listen, right? 51 00:02:15.695 --> 00:02:18.515 So, you know, my mom was a big, you know, we were given two, 52 00:02:18.655 --> 00:02:21.955 hes in one mouth, you know, so, um, I listen carefully to 53 00:02:21.955 --> 00:02:23.035 what it is they want to say. 54 00:02:23.415 --> 00:02:25.955 Um, I don't push them into anything that isn't for them, 55 00:02:26.255 --> 00:02:30.195 you know, you know, even in, for me personally, you know, 56 00:02:30.355 --> 00:02:33.235 I could make, you know, perhaps less money on the deal, 57 00:02:33.615 --> 00:02:36.395 but it's always, you know, a long term thing with me. 58 00:02:36.395 --> 00:02:37.635 You know, what's good for the client. 59 00:02:38.075 --> 00:02:41.035 I wanna make sure that, um, that they come back to me, 60 00:02:41.035 --> 00:02:42.395 you know, this isn't a one time thing. 61 00:02:42.435 --> 00:02:44.395 I want you to come back, you know, two times, 62 00:02:44.445 --> 00:02:46.995 three times over and over again and build that relationship. 63 00:02:47.575 --> 00:02:49.475 So, uh, I'm in it for the long term. 64 00:02:49.735 --> 00:02:52.635 And, um, and that's really what I offer, you know, um, 65 00:02:53.135 --> 00:02:55.475 I'm kind of, um, you know, very, um, 66 00:02:56.005 --> 00:02:57.355 right brain, very analytical. 67 00:02:57.775 --> 00:03:00.485 So, um, you know, I, I like to think, think things through 68 00:03:00.745 --> 00:03:03.525 and, um, look at the best offering for the client. 69 00:03:03.825 --> 00:03:05.845 Um, and yeah, that's what I do. 70 00:03:06.665 --> 00:03:08.645 We love to hear that. So you said 71 00:03:09.315 --> 00:03:10.765 this was your first broker fair. 72 00:03:10.765 --> 00:03:12.325 Will you be returning to the next one? 73 00:03:12.465 --> 00:03:14.885 Oh, definitely. Um, I'm not even sure. 74 00:03:15.045 --> 00:03:16.725 I, I think they have other ones throughout the country. 75 00:03:16.885 --> 00:03:20.725 I may go to the next one in the next state, um, just to, uh, 76 00:03:20.725 --> 00:03:23.685 to get different, uh, feeling on how those goes, um, 77 00:03:23.835 --> 00:03:25.925 with the other, um, the other participants. 78 00:03:26.025 --> 00:03:29.445 But, um, yeah, Sean does a great job here. I loved it. 79 00:03:29.725 --> 00:03:31.965 I loved the breakouts that we had with the attorneys 80 00:03:31.965 --> 00:03:34.405 and the regulatory information they passed, um, 81 00:03:34.585 --> 00:03:35.965 in New York State National. 82 00:03:36.625 --> 00:03:39.485 Um, I'm looking forward to the, um, uh, 83 00:03:39.485 --> 00:03:41.925 the two o'clock show, um, where they're gonna have, 84 00:03:41.945 --> 00:03:43.005 um, I forgot his name. 85 00:03:43.065 --> 00:03:45.285 Um, Peter, um, come by 86 00:03:45.285 --> 00:03:47.005 and speak, you know, he's, uh, uh, 87 00:03:47.685 --> 00:03:49.685 I guess I'm a, a, a fan of his. 88 00:03:50.545 --> 00:03:53.325 Um, but yeah, I'll be back. Great conference. 89 00:03:53.355 --> 00:03:55.045 Fantastic. We love to hear that. 90 00:03:55.045 --> 00:03:56.605 Thank you for spending some time with me 91 00:03:57.025 --> 00:03:58.285 and we will be right back.