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Related Headlines
| 02/17/2022 | National Business Capital celebrates |
| 05/06/2021 | National Business Capital funds $4M deal |
| 10/19/2018 | National Business Capital surpasses $1B |
| 03/09/2018 | Interview w/ National Business Capital CEO |
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One on One With Joe Camberato at National Business Capital
May 23, 2021I sat down with Joe Camberato (@GrowByJoe), CEO of National Business Capital in Bohemia, NY. He shared tips about how to run a successful business and gave me a personal tour of his company’s office.
Joe Camberato Named CEO of National Business Capital & Services
November 9, 2020
November 9, 2020, Bohemia, NY – National Business Capital & Services, the nation’s leading FinTech lending marketplace which streamlines the application and approval process for small business owners, today named Joe Camberato CEO. He succeeds James Webster, who has exited the company to pursue new endeavors.
The announcement comes as the COVID-19 crisis has crippled small businesses across America. Not only are business owners challenged with the overwhelming stress of meeting near-term financing demands simply to survive, but they are also tasked with re-imagining how to best position their businesses for growth in the post pandemic ‘new normal’.
“Through booming and challenging times, National’s priority has always been to serve as the go-to source for small businesses to find competitive financing options, revenue-generating services and consultative support to help them at every step of their growth journey,” said Camberato.
“When it comes to small business loan approvals, banks are highly conservative, tending to lend an umbrella when the sun is shining. With COVID-19, the sun is not shining. We recognize how crucial it is to provide access to competitive financing options to help businesses survive, but they also desperately need help to rebuild and grow.”
In a recent survey of small to mid-sized businesses by CBIZ, over half (51%) of respondents reported a significant decrease in sales due to the pandemic. Smaller businesses have been disproportionately impacted, with nearly half of businesses with 1-4 employees reporting a significant or severe impact, and 37% of businesses with 20-49 employees noting a significant or severe impact.
In taking reins as CEO, Camberato is steadfastly committed to National’s vision to Innovate the Way Entrepreneurs Grow by offering essential resources beyond just financing. His plans include enhanced business growth consulting and coaching offerings, which he anticipates will be a dire post-pandemic need, but is currently a significant gap across the competitive landscape.
Michael Gerber, a mega bestseller who was named “The World’s #1 Small Business Guru” by Inc. Magazine, commended National’s efforts toward empowering small business owners by providing streamlined access to capital, among other game-changing resources.
“I’ve admired Joe since the day we met. He shares my mission to transform the state of small business and has unmatched knowledge of small business lending practices. His personal success building a scalable business, and passion for helping entrepreneurs and small business owners invest their efforts in the right areas to create sustainable, growth-oriented companies have been invaluable as we work together to co-author our new book,” says Gerber.
Gerber is currently collaborating with Camberato to write “The E-Myth Money Book”, which will educate small business owners about the various avenues they can take to obtain and successfully utilize small business financing while growing their businesses.
As one of National’s original founders and previous President, Camberato spearheaded significant technological innovations, implemented process enhancements, and helped build an amazing company culture on his mission to simplify the previously laborious business financing process for small business owners, securing over $1 billion in financing in the process.
Now, business owners can apply in one simple place and securely connect their bank accounts to receive tailored financing options in minutes, with funding following in as little as a few hours.
Beyond streamlined technology and processes, Camberato credits National’s success to its award-winning team and applauds their role in helping business owners get back to business amid the pandemic.
“By taking the time to understand business owner challenges or opportunities, our amazing team has established the National brand as a trusted source of capital and counsel. I couldn’t be prouder of my team’s dedication to helping small business owners, but also for their significant role in helping our clients overcome the COVID-19 crisis and get back to business. They rally behind our mission to be the trusted resource business owners turn to for financing, revenue-generating services, and business coaching and will play a pivotal role as we add new offerings to help businesses not only survive but thrive and grow.”
Camberato regularly shares his insights about FinTech lending, access to capital and small business growth strategies through his seat on the Forbes Finance Council and his YouTube channel, GrowByJoe. He is also an active member of the Young Presidents Organization (YPO) and is actively involved in giving back, locally and nationally.
ABOUT NATIONAL BUSINESS CAPITAL & SERVICES
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services. We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
CONTACT:
Matt Carrigan
press@National.biz | www.National.biz
National Business Capital & Services
1 Corporate Dr, Suite 202, Bohemia NY 11716
Toll Free: (877) 482-3008 | Fax: (631) 446-6016
SOURCE National Business Capital & Services
National Business Capital & Services Expands into Cannabis Funding with CannaBusiness Financing Solution
October 15, 2019
Today National Business Capital & Services (NBC&S) announced it has begun serving cannabis companies. Through its new program, CannaBusiness Financing Solution, NBC&S is now accepting applications for loans starting at a minimum of $10,000 from firms in the industry that are over one year old.
“The CannaBusiness Financial Solution will allow business owners to seamlessly obtain the capital they need, and allocate funding toward either hiring new employees, purchasing inventory, marketing strategies, or any other business need right away, without government regulations hindering growth opportunities or having to give up equity,” explained NBC&S President Joseph Camberato. “We’re not a bank and the lenders we work with aren’t banks either, so it falls into a different area of commercial lending.”
CannaBusiness is available in the 33 states where cannabis is legal, be it for medicinal or recreational uses, as well as in Canada.
“It’s a rapidly growing space, no pun intended,” joked Camberato when asked about the differences in funding cannabis companies compared to the industries NBC&S has served in its 12 years of business. “It would still be underwritten, just like one of our normal businesses. But we’re definitely going to want to know a little bit more about the business and understand what exactly they’re doing, how they’re operating, and exactly what are they’re focused on.” They’ll also examine if the business is in compliance with state laws. Qualifying cannabis companies must be in business for at least 1 year, with a minimum of $10K in monthly revenue. There is no minimum FICO score requirement.
While it’s not the first funder for cannabis companies, NBC&S views the move as a step in the right direction to “get ahead of the curve” according to Camberato. “We’re living through a modern-day prohibition, I think in 20 years we’ll look back on it and talk about it with our grandchildren and be like, ‘wow’ … I don’t think people realize how big of a deal this really is, but it is a business and it is another industry that has bloomed in front of us, again no pun intended. I think it’s fascinating that we get to witness this and that we’re really at the forefront of it and helping folks get the funds they need to grow.”
Jumping off from the politically charged word of ‘prohibition,’ NBC&S’ Vice President of Marketing, T.J. Muro, noted that he believed cannabis legislation to be one of the few issues that can be bipartisan, saying, “Out of everything today in our political climate, I think it’s the one thing that has unified people in the political parties. The liberal side appreciates the cultural influence and significance there, and then on the more conservative side it’s the tax revenue.”
The upcoming Senate vote on the SAFE Banking Act will put this theory to the test. The bill, which would allow the cannabis industry wider access to banking, has already passed the House.
Idea Financial Secures $50 Million Warehouse Facility to Expand Small Business Lending
October 1, 2024Miami, FL – Idea Financial, the leading provider of small business lines of credit, today announced the successful closing of a new $50 million warehouse facility led by Performance Trust Capital Partners. This strategic move significantly enhances Idea Financials’ lending capacity and allows the company to increase its maximum loan limit to $350,000 for well-established small businesses.
The new facility was made possible due to Performance Trust’s relationships with community banks and strengthens Idea Financial’s position in offering competitive and flexible financial products to Main Street businesses across the United States.
“Performance Trust has opened up an entirely new market for Idea Financial through their deep relationships with smaller community banks,” said Larry Bassuk, Idea Financial’s President and co-founder. “With this additional capital, we will continue our mission to be a premier provider of lines of credit for small businesses.”
Justin Leto, Idea Financial’s CEO and co-founder, added, “As the economy shows tremendous resilience and continues to grow, Idea Financial, along with Performance Trust, will be well-positioned to fuel that growth.”
Prior to this partnership, Idea Financial provided lines of credit up to $250,000. The increase to $350,000 allows the company to better serve the needs of growing small businesses requiring larger capital infusions.
Performance Trust Capital Partners, a full-service investment bank focused on community depository institutions, facilitated this deal by leveraging its relationships with community banks and aggregating the capital necessary to provide this substantial warehouse facility – a task typically requiring significant capital from super-regional or national banks.
This partnership marks a significant milestone in Idea Financial’s growth trajectory and reinforces its commitment to supporting small businesses across the nation.
About Idea Financial
Idea Financial is the leading non-bank provider of small business lines of credit in the United States. The company offers financial solutions to high-quality, established businesses needing funds to drive growth. To date, Idea Financial has funded thousands of American small businesses with hundreds of millions of dollars in loans, helping businesses #ChargeForward. For more information, visit ideafinancial.com.
About Performance Trust Capital Partners
Performance Trust Capital Partners is a full-service investment bank focused on community depository institutions. Their innovative approach enables syndication opportunities among community bank partners, allowing for the creation of significant facilities to support small business lenders. For more information, visit performancetrust.com.
For more information, please visit www.ideafinancial.com or contact Idea Financial at marketing@ideafinancial.com
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Maxim Commercial Capital Promotes Fernando Rodriguez to Director – Vendor Sales
May 6, 2024LOS ANGELES, CALIF. (May 5, 2024) – Maxim Commercial Capital (“Maxim”) announced Fernando Rodriguez has been promoted to Director – Vendor Sales. In this role, Rodriguez manages vendor relationships, business origination, and sales for Maxim’s Truck and Equipment Financing divisions. He is responsible for the divisions’ national sales strategy, leads the company’s sales team, manages high volume national vendor accounts, and assesses and onboards new vendors.
“Fernando has made great contributions to Maxim since joining the firm in 2021,” noted Michael Kianmahd, Maxim’s CEO. “He has been instrumental in developing and leading our direct and returning customer sales efforts, handling high touch strategic accounts, and managing truck vendor relationships in California. We are extremely pleased to have Fernando on our executive team.”
Rodriguez brings 25 years of experience in the financial services industry to his new role. Previously, he served as a senior credit manager, sales team manager, mortgage loan officer, and mortgage broker for companies including Secured Funding, Citibank, and Newport Lending Corporation, funding over $40 million in mortgage loans monthly. Prior to joining Maxim, Fernando managed his family’s environmental business in Puerto Rico.
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners nationwide by providing loans and leases (“financing”) from $10,000 to $3 million secured by trucks, trailers, heavy equipment, and real estate. It funds equipment purchase financings and leases, working capital, and debt consolidations. Maxim’s more creative financing structures leverage equity in real estate and owned heavy equipment to facilitate growth and preserve customers’ cash. As a leading provider of transportation equipment financing, Maxim supports startup and experienced owner-operators and non-CDL small fleet owners by funding loans and leases for class 8 and class 6 trucks, trailers, and reefers. Learn more at www.maximcc.com or by calling 877-776-2946.
###
Contact:
Michael Kianmahd, CEO
Maxim Commercial Capital
michael@maximcc.com
(213) 984-2727
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Missing Funds in Prime Capital Ventures Case Now Exceed $90 Million
February 20, 2024
The case of the missing $50 million in the Prime Capital Ventures deposit scheme case is quickly ballooning to a much larger sum. On Tuesday, the Receiver representing Prime in the recovery efforts informed the Court that the total owed to victims is now almost $91 million and that it has yet to locate and secure anywhere near that amount. The growing number is attributed to the fact that more victim companies are beginning to come forward after news of the receivership and personal bankruptcy of Prime’s principal Kris Roglieri have been made public.
Roglieri’s attorney has asked the Court for the automatic stay of actions afforded to him in his personal bankruptcy be also applied to the other businesses he owns that the Receiver of Prime is suing, including the National Alliance of Commercial Loan Brokers entity. Roglieri is reportedly the 100% owner of the NACLB.
The party that sued Prime into receivership in the first place, a company named Compass-Charlotte 1031, LLC, said in its rebuttal to Roglieri’s request that not only is Prime indisputably insolvent but that there is no evidence that Roglieri’s other businesses at issue are not equally insolvent. Compass-Charlotte and the Receiver have both asked the Court not to extend the bankruptcy stay to these other businesses so that Prime can continue to pursue the assets.
The Top Small Business Funders Now Vs. Then
January 11, 2024Top Small Business Funders By Year
| 2008 | 2014 | 2023 |
| AdvanceMe (CAN Capital) | OnDeck | Square |
| First Funds | CAN Capital | Enova (OnDeck / Headway) |
| Merchant Cash and Capital (BizFi) | Kabbage | Shopify |
| BFS | Kapitus | PayPal |
| AmeriMerchant | Rapid Finance | Amazon |
| GBR Funding | National Funding | Intuit |
Many people look at 2023 vs 2008 and arrive at the conclusion that the fintechs rose to the top, but if one were to narrow down the definition of those players a little further, they’d notice that PayPal and Square are payment companies, Shopify and Amazon are e-commerce companies, and Intuit owns the Quickbooks accounting software. These are actually older companies that took an old idea (split-funding) and made it new again with some key changes. Although in the present moment it may feel like some of them cannot be beat (which is how the industry felt about the top funders in 2008), much can change over the course of this decade.
Keep your eye on:
- AI
- Blockchain (as payment rails, record-keeping)
- Regulation
Maxim Commercial Capital Doubled Fundings in Q3 2023
October 19, 2023LOS ANGELES, CALIF. (Oct. 17, 2023) – Maxim Commercial Capital (“Maxim”) announced robust demand across its diverse financing programs for the third quarter of 2023. The hard asset secured lender reported a 100% year-over-year increase in truck financings for the period. Furthermore, it experienced a surge in demand for second-lien mortgages to refinance Merchant Cash Advance (MCA) loans and to support working capital. Maxim is a national provider of loans and leases from $10,000 to $3 million collateralized by class 6 and 8 trucks, trailers, heavy equipment, and real estate.
“The current climate of healthy residential real estate valuations, coupled with low-cost first mortgages and conservative banking practices, makes our Real Estate and Structured Finance programs highly appealing,” noted Michael Kianmahd, Maxim’s Executive Vice President. “Many homeowners don’t realize they have liquidity in their homes that can be tapped to grow their businesses, often at significantly less expense than MCA loans.”
Notable fundings during the period include a $400,000, 5-year second-lien mortgage at a 60% combined loan-to-value (LTV) for an experienced optometrist with four business locations in Los Angeles. The funds were used to pay off MCA loans, reducing monthly debt service by $15,000, and for working capital. Maxim also funded aa $125,000 second-lien mortgage to an experienced construction project manager in Las Vegas at 58% combined LTV to fuel business growth and pay off an expensive MCA loan.
Maxim’s credit matrix featuring lower down payments for truck owner-operators, ranging from better credit to subprime borrowers, continued to prove popular among loan brokers and truck vendors in Q3 2023. Truck financings during the period included 75% purchase financing for an experienced owner-operator with a 607 FICO to buy a 2018 Peterbilt 579 with 399K miles for $58,695; 68% purchase financing for an owner-operator with a 593 FICO to buy a 2019 Peterbilt 579 with 547k miles for $62,250; and 71% financing for a start-up owner-operator with a 618 FICO to buy a 2020 Freightliner Cascadia with 465K miles for $51,275.
“Fortunately, the used truck market has softened in light of the current economic volatility “We are committed to helping hard-working truck drivers stay on the road, earning a living,” noted said Behzad Kianmahd, Maxim’s Chairman and CEO. “The current economic volatility has improved truck pricing while also causing some lenders to retract, creating an opportunity for Maxim to fill a void.”
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners nationwide by providing loans and leases (“financing”) from $10,000 to $3 million secured by trucks, trailers, heavy equipment, and real estate. It funds equipment purchase financings and leases, working capital, and debt consolidations. Maxim’s more creative financing structures leverage equity in real estate and owned heavy equipment to facilitate growth and preserve customers’ cash. As a leading provider of transportation equipment financing, Maxim supports startup and experienced owner-operators and non-CDL small fleet owners by funding loans and leases for class 8 and class 6 trucks, trailers, and reefers. Learn more at www.maximcc.com or by calling 877-776-2946.
###
Contact:
Michael Kianmahd
Executive Vice President
Maxim Commercial Capital
michael@maximcc.com
(213) 984-2727
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