1 00:00:00.305 --> 00:00:00.845 Hey everyone. 2 00:00:00.845 --> 00:00:01.885 Alison Berger here. 3 00:00:01.985 --> 00:00:04.325 I'm at the B2B Finance Expo in Las Vegas. 4 00:00:04.645 --> 00:00:07.685 I am now joined with John Shane of South Star Capital. 5 00:00:08.235 --> 00:00:09.445 Tell me about South Star. 6 00:00:09.595 --> 00:00:11.085 Well, first of all, thanks for having us. 7 00:00:11.545 --> 00:00:12.765 Uh, I've been with the company 8 00:00:12.905 --> 00:00:14.365 for part of the last four years. 9 00:00:14.965 --> 00:00:17.725 I manage the broker division at South Star Capital. 10 00:00:18.345 --> 00:00:21.965 We, uh, we, we fund off of the accounts receivable 11 00:00:22.425 --> 00:00:24.125 and purchase orders primarily. 12 00:00:24.445 --> 00:00:28.125 I love what I do. Um, we're here at the B2B just 13 00:00:28.125 --> 00:00:29.405 to check it out for the first time. 14 00:00:29.435 --> 00:00:31.605 It's the first annual and we're just hoping 15 00:00:31.665 --> 00:00:33.765 to meet some people and understand kind of who they are, 16 00:00:33.765 --> 00:00:37.685 what they do, and how what we do can fit at this conference. 17 00:00:37.685 --> 00:00:40.005 There are a lot of merchant cash advance partners 18 00:00:40.625 --> 00:00:43.805 and, uh, we are a little bit outside that box when it comes 19 00:00:43.805 --> 00:00:46.125 to advancing on invoices and purchase orders. 20 00:00:46.705 --> 00:00:48.885 So I believe it'll benefit them 21 00:00:48.945 --> 00:00:50.325 to understand a little bit more about 22 00:00:50.345 --> 00:00:51.485 who we are and what we do. 23 00:00:51.625 --> 00:00:55.005 So I'm just glad to be here and, uh, well, 24 00:00:55.005 --> 00:00:56.005 That's what we want. We want people 25 00:00:56.005 --> 00:00:57.845 to know who should be coming to you. 26 00:00:57.945 --> 00:00:59.885 Why should they come to you? Tell me about that. 27 00:01:00.545 --> 00:01:01.645 Um, first of all, 28 00:01:01.865 --> 00:01:04.525 bottom line is when a business owner like you would need 29 00:01:04.525 --> 00:01:06.045 money, where do you find money first? 30 00:01:06.105 --> 00:01:09.685 Do you find money in your business to business invoices 31 00:01:10.075 --> 00:01:11.285 that are work completed? 32 00:01:11.705 --> 00:01:13.005 And I can't say that any more clear. 33 00:01:13.025 --> 00:01:15.765 We can advance on that asset. We don't loan any money. 34 00:01:15.825 --> 00:01:17.565 We advance on those assets to you. 35 00:01:18.145 --> 00:01:19.685 Uh, give you a typical example. 36 00:01:19.705 --> 00:01:21.365 If there's a hundred thousand dollars invoice 37 00:01:22.145 --> 00:01:25.205 that's you're selling a, a product to Clemson University, 38 00:01:25.535 --> 00:01:28.125 we'll be able to advance 80% of that work completed invoice. 39 00:01:28.395 --> 00:01:30.245 When payment comes from Clemson back to us, 40 00:01:30.775 --> 00:01:32.765 we're gonna get the a hundred thousand dollars in 41 00:01:33.165 --> 00:01:34.445 complete full payment. 42 00:01:34.855 --> 00:01:36.645 We'll give you back our customer back 43 00:01:36.785 --> 00:01:39.645 and you back the other 20,000 maybe a 44 00:01:39.745 --> 00:01:41.965 for a 2% fee charged over 30 days. 45 00:01:42.385 --> 00:01:44.125 So it's a great value 46 00:01:44.185 --> 00:01:45.965 to move money forward in your cash flow. 47 00:01:46.025 --> 00:01:47.965 It puts the client and customer in control 48 00:01:48.225 --> 00:01:49.805 of when they advance on invoices. 49 00:01:49.985 --> 00:01:54.365 We also can advance on the work completed invoices 50 00:01:54.365 --> 00:01:56.125 that have purchase orders attached to them 51 00:01:56.125 --> 00:01:57.365 that are a direct drop ships. 52 00:01:57.785 --> 00:01:59.845 And that's important to know products work better, 53 00:02:00.225 --> 00:02:02.525 but services can be worked in with other collateral 54 00:02:02.945 --> 00:02:03.965 to get to the invoice. 55 00:02:04.105 --> 00:02:06.045 So basically, customers need money 56 00:02:07.105 --> 00:02:09.645 And you give it, And we give them money when they need 57 00:02:09.645 --> 00:02:11.685 it, and we're helping them to understand 58 00:02:11.755 --> 00:02:13.845 what accounts receivable financing is 59 00:02:14.145 --> 00:02:15.565 and what true factoring is. 60 00:02:16.345 --> 00:02:18.845 Not factoring future receivables like a merchant cash 61 00:02:18.845 --> 00:02:19.885 advance definition, 62 00:02:19.985 --> 00:02:22.365 but a true factoring of a receivable. So, 63 00:02:22.545 --> 00:02:24.565 And how are you different than others in the industry? 64 00:02:24.945 --> 00:02:26.365 We are totally private money. 65 00:02:27.265 --> 00:02:31.885 Um, I would say, you know, just to, 66 00:02:31.885 --> 00:02:34.125 to talk about ourselves not being 67 00:02:34.125 --> 00:02:35.445 different, but we're trustworthy. 68 00:02:35.985 --> 00:02:38.325 You can, we believe in what we do a hundred percent 69 00:02:38.745 --> 00:02:39.885 and we would buy it ourselves. 70 00:02:40.045 --> 00:02:44.485 I come from the business side, so I would actually do what 71 00:02:45.345 --> 00:02:48.725 we share our, that our customers do, put a facility in place 72 00:02:49.345 --> 00:02:51.925 to advance on work, completed invoices or purchase orders. 73 00:02:52.395 --> 00:02:54.085 Well, you're making it everyone a 74 00:02:54.085 --> 00:02:55.245 star, not just in the South. 75 00:02:55.835 --> 00:02:57.285 Amen. Amen. I, I hope so. 76 00:02:58.355 --> 00:02:59.765 It's definitely not all about us. 77 00:02:59.945 --> 00:03:01.365 We, we try to help the customers 78 00:03:01.385 --> 00:03:04.765 and hopefully our personal touch makes it, uh, uh, 79 00:03:05.155 --> 00:03:06.165 comfortable for them. 80 00:03:06.715 --> 00:03:09.485 Well, your personal touch is working on me, so thank you 81 00:03:09.485 --> 00:03:10.685 for spending some time with me. 82 00:03:10.905 --> 00:03:13.445 And there's still more to come from the B2B Finance Expo.