1 00:00:00.145 --> 00:00:01.325 So tell me a little bit about your company, 2 00:00:01.325 --> 00:00:04.125 what you guys do, and how you can help people in this space. 3 00:00:04.435 --> 00:00:08.285 Okay. I've been in the merchant cash advanced space, uh, 4 00:00:08.385 --> 00:00:10.645 in different facets approaching 20 years. 5 00:00:11.425 --> 00:00:13.885 And in my, my current, um, role, 6 00:00:14.405 --> 00:00:15.485 I work with an investment bank. 7 00:00:15.845 --> 00:00:19.565 Probably about a third of the funders in this room 8 00:00:20.235 --> 00:00:21.685 have worked with my bank 9 00:00:21.825 --> 00:00:25.405 or similar banks to secure lines of credit, secure money 10 00:00:25.795 --> 00:00:30.235 that they can in turn give to their merchants, right? 11 00:00:30.645 --> 00:00:32.955 Every business needs money from somewhere. 12 00:00:33.535 --> 00:00:34.635 So I'm helping a lot of the, 13 00:00:34.635 --> 00:00:36.435 the companies in the space secure money 14 00:00:36.435 --> 00:00:39.155 and financing so they can use it in turn 15 00:00:39.215 --> 00:00:41.075 to give out to their clients. Today. 16 00:00:41.165 --> 00:00:43.235 Today was pretty cool. You got something in your hand? 17 00:00:43.375 --> 00:00:45.435 Yes. Tell us a little bit about that and, 18 00:00:45.615 --> 00:00:47.195 and what it means and what it means to you. 19 00:00:47.625 --> 00:00:49.395 Okay. No, thank you very much. 20 00:00:49.535 --> 00:00:50.795 Um, I have been coming 21 00:00:50.815 --> 00:00:54.075 to the D Bank show since the very first show, I want 22 00:00:54.075 --> 00:00:56.955 to say 2017, 2018. 23 00:00:57.745 --> 00:01:00.475 Sean Murray and I go way back, back from the days 24 00:01:00.495 --> 00:01:02.995 of Merchant Cash and Capital am Mirror Merchant. 25 00:01:02.995 --> 00:01:04.755 So I know Sean A. Long time. 26 00:01:04.815 --> 00:01:07.755 So when he got started, I wanted to support him 27 00:01:07.775 --> 00:01:09.235 and I wanted to support the industry. 28 00:01:09.895 --> 00:01:13.915 So apparently I've attended every event conference since the 29 00:01:13.915 --> 00:01:15.115 first event conference. 30 00:01:15.615 --> 00:01:19.235 So Sean has, was kind enough to kind of halfheartedly, 31 00:01:19.265 --> 00:01:22.475 half jokingly give me an award lifetime achievement 32 00:01:22.475 --> 00:01:23.875 for attending every conference. 33 00:01:24.375 --> 00:01:27.075 So I was actually telling a buddy this morning about the 34 00:01:27.125 --> 00:01:29.555 award and it, he was very proud of me. 35 00:01:29.615 --> 00:01:32.715 And what he says was, Andrew, that's consistency, Andrew. 36 00:01:32.715 --> 00:01:35.875 That's showing up for your industry. That's discipline. 37 00:01:36.215 --> 00:01:39.075 That's true. Maturity to come rain 38 00:01:39.075 --> 00:01:41.955 or shine, travel all throughout the country to come 39 00:01:41.955 --> 00:01:43.115 to these shows to support. 40 00:01:43.535 --> 00:01:46.875 And I said, okay, I guess that's the truth. That's the case. 41 00:01:47.455 --> 00:01:49.515 But what I said this morning, in addition was 42 00:01:50.705 --> 00:01:53.195 this industry has been through a lot, right? 43 00:01:53.615 --> 00:01:55.915 We were sued for patent infringement years ago. 44 00:01:56.575 --> 00:01:58.635 We had to change our collection methods. 45 00:01:59.205 --> 00:02:02.035 We've been legislated against, we've been sued against, 46 00:02:02.295 --> 00:02:03.795 we went through a global pandemic. 47 00:02:04.375 --> 00:02:07.355 But through that whole time and all of those ups 48 00:02:07.355 --> 00:02:10.155 and downs de banked, Sean Murray 49 00:02:10.215 --> 00:02:11.755 and his team have always been there. 50 00:02:11.825 --> 00:02:13.755 Whether it's providing us information, 51 00:02:14.105 --> 00:02:16.555 providing us education, um, 52 00:02:16.585 --> 00:02:18.355 getting us together at conferences. 53 00:02:19.115 --> 00:02:21.835 D Bank has always been the underlining force 54 00:02:22.415 --> 00:02:23.475 behind the industry. 55 00:02:23.855 --> 00:02:25.715 So I think it's important that that's recognized 56 00:02:26.535 --> 00:02:29.435 as we continue, you know, to, to advance our careers. 57 00:02:30.495 --> 00:02:31.995 And obviously with all that being 58 00:02:32.025 --> 00:02:34.995 Said, If this didn't have any value to you, 59 00:02:35.375 --> 00:02:36.475 you probably wouldn't come, right? 60 00:02:36.475 --> 00:02:38.675 Correct. So what does, for you personally, 61 00:02:38.675 --> 00:02:39.915 what does an event like this 62 00:02:40.215 --> 00:02:43.515 and these de banked events, broker Fair Connect Miami, 63 00:02:43.905 --> 00:02:46.035 what value does it have to you and your organization? 64 00:02:46.145 --> 00:02:49.235 Okay, that's a good question. If, if it serves a couple 65 00:02:49.235 --> 00:02:52.635 of different, uh, uh, functions for me, a lot 66 00:02:52.635 --> 00:02:54.195 of the time it's connecting with old friends. 67 00:02:54.905 --> 00:02:57.485 And I can't tell you how many hugs I've given here. 68 00:02:58.005 --> 00:02:59.845 'cause I connect with old friends and I wanna see them 69 00:02:59.845 --> 00:03:01.685 and genuinely see how they're doing, right. 70 00:03:01.985 --> 00:03:03.205 And connecting with new people. 71 00:03:03.765 --> 00:03:05.925 'cause the industry is always changing and evolving. 72 00:03:06.635 --> 00:03:08.045 More people are coming in and leaving. 73 00:03:08.105 --> 00:03:09.205 So I want to meet new people, 74 00:03:09.665 --> 00:03:11.605 and my role in this space has evolved. 75 00:03:11.975 --> 00:03:15.085 Originally, we were an ISO in 2006. 76 00:03:15.815 --> 00:03:18.395 In 2008, we became an on balance sheet lender. 77 00:03:19.215 --> 00:03:21.235 So I've done every aspect 78 00:03:21.235 --> 00:03:22.915 of the business in many different ways, 79 00:03:23.415 --> 00:03:25.115 but now working in investment banking, 80 00:03:25.775 --> 00:03:28.035 I'm looking at all these relationships in a different way. 81 00:03:28.595 --> 00:03:30.995 I wanna be able to help them with lines of credit, 82 00:03:30.995 --> 00:03:32.835 with financing that they can use 83 00:03:33.375 --> 00:03:35.035 to advance and grow their business. 84 00:03:35.895 --> 00:03:37.555 So this conference serves a lot 85 00:03:37.555 --> 00:03:38.675 of different purposes that way. 86 00:03:39.185 --> 00:03:41.035 That, and it, it's selfish to some extent. 87 00:03:41.195 --> 00:03:43.555 I come here to get business, to conduct business. 88 00:03:43.555 --> 00:03:44.915 That's not a lie, right? 89 00:03:45.015 --> 00:03:46.795 People are here, this is capitalism. 90 00:03:46.815 --> 00:03:49.515 We are here to, uh, conduct business and make money. 91 00:03:50.135 --> 00:03:51.675 So I, it, it's definitely done 92 00:03:51.675 --> 00:03:53.395 that all throughout my career. 93 00:03:55.145 --> 00:03:56.715 What do you think about the industry? 94 00:03:56.895 --> 00:03:59.475 What's the trajectory? What's the direction of the industry? 95 00:03:59.775 --> 00:04:01.915 What's the pulse right now from your perspective? 96 00:04:02.985 --> 00:04:03.995 It's interesting. I was chatting 97 00:04:03.995 --> 00:04:05.915 with somebody at the opening reception last night, 98 00:04:06.015 --> 00:04:07.675 and he is a newer person in the industry. 99 00:04:07.675 --> 00:04:09.395 He is a hedge fund looking to start investing. 100 00:04:09.695 --> 00:04:11.555 How he says, well, what do you think about the product? 101 00:04:11.825 --> 00:04:13.635 What do you think about snacking? 102 00:04:13.635 --> 00:04:14.675 And this, that, the other thing, 103 00:04:15.015 --> 00:04:17.035 and I said, let me break it down for you very simply, 104 00:04:17.895 --> 00:04:21.955 if there is a person who owns a Mexican restaurant in 105 00:04:22.295 --> 00:04:23.875 Dallas, Texas, right? 106 00:04:24.095 --> 00:04:28.345 And they have a first position loan of say, $200,000, 107 00:04:29.045 --> 00:04:30.625 but their oven just blew out 108 00:04:30.885 --> 00:04:33.265 and they need a new parking lot. 109 00:04:33.765 --> 00:04:36.865 And there are six waitresses and waiters that work there, 110 00:04:37.245 --> 00:04:38.785 and there's a couple of single parents. 111 00:04:39.245 --> 00:04:41.625 And if this restaurant doesn't open every day, 112 00:04:41.995 --> 00:04:43.705 those individuals can't make money 113 00:04:44.005 --> 00:04:45.625 to feed their families, right? 114 00:04:46.005 --> 00:04:48.505 So this industry has to be around. 115 00:04:48.735 --> 00:04:50.785 It's very important for them to understand 116 00:04:50.785 --> 00:04:52.705 that we're giving money to businesses 117 00:04:52.705 --> 00:04:54.785 and serving an industry that's underserved. 118 00:04:55.055 --> 00:04:58.025 Because if this restaurant in Texas doesn't get money 119 00:04:58.085 --> 00:05:00.865 to fix their oven and come back to business, 120 00:05:01.255 --> 00:05:04.565 there's gonna be people that lose their jobs 121 00:05:04.745 --> 00:05:06.125 and not gonna be able to feed their family. 122 00:05:06.225 --> 00:05:07.765 So I think in the legislation 123 00:05:08.225 --> 00:05:10.805 and the thinking that some people who are out 124 00:05:10.805 --> 00:05:13.285 of touch from the space don't understand, 125 00:05:13.745 --> 00:05:15.285 and they wanna say the rates are high 126 00:05:15.345 --> 00:05:17.125 and they shouldn't be borrowing the money at these rates. 127 00:05:17.385 --> 00:05:19.245 No, no, no, no, no. You're missing the point. 128 00:05:19.665 --> 00:05:23.645 If somebody borrows $50,000 and has to pay back $65,000 129 00:05:24.225 --> 00:05:25.485 but now has a new oven 130 00:05:25.985 --> 00:05:28.765 and a new parking lot so that those people can come 131 00:05:28.765 --> 00:05:30.125 to work every day and make money. 132 00:05:31.355 --> 00:05:33.045 That that's, that's the bottom line. 133 00:05:34.665 --> 00:05:35.965 My last question for you is, 134 00:05:36.185 --> 00:05:38.365 and I well, I just wanna leave it open to you. 135 00:05:39.145 --> 00:05:40.365 Is there anything that you want to say, 136 00:05:40.385 --> 00:05:42.125 any about your business, about the event? 137 00:05:42.725 --> 00:05:43.965 Anything that you want to get out there that you 138 00:05:43.965 --> 00:05:45.925 and I haven't talking and discussed 139 00:05:45.985 --> 00:05:46.985 So far? I think it's 140 00:05:46.985 --> 00:05:47.565 important that, 141 00:05:47.705 --> 00:05:50.165 and I was talking to another colleague in today's day 142 00:05:50.165 --> 00:05:52.365 and age, everybody wants to work remote. 143 00:05:52.475 --> 00:05:53.645 Everybody's on a zoom, 144 00:05:53.675 --> 00:05:55.205 everybody's in their apartment working. 145 00:05:55.785 --> 00:05:57.510 You gotta get out and press the flesh. 146 00:05:58.105 --> 00:06:00.525 You have to be present, you have to meet people, 147 00:06:00.945 --> 00:06:02.125 you have to talk to people. 148 00:06:02.745 --> 00:06:05.365 You, you can't, you can't get that same feeling 149 00:06:05.995 --> 00:06:07.925 from working remote. 150 00:06:08.345 --> 00:06:10.005 So I think you gotta come out, right? 151 00:06:10.005 --> 00:06:11.045 And there's some pretty cool events. 152 00:06:11.465 --> 00:06:16.085 Las Vegas, Miami, New York, there's, there's cool stuff 153 00:06:16.085 --> 00:06:17.805 that, it's not like he's saying, Hey, let's go 154 00:06:17.805 --> 00:06:20.165 to some remote, uh, city 155 00:06:20.265 --> 00:06:22.565 and I don't want to, you know, discount any state. 156 00:06:22.835 --> 00:06:23.845 I'll keep picking on Texas. 157 00:06:23.915 --> 00:06:26.645 They're not saying we're going to the, uh, the farmlands 158 00:06:26.645 --> 00:06:28.245 of Texas and we're gonna meet in the cornfield. 159 00:06:28.825 --> 00:06:30.125 No, come to New York. 160 00:06:30.125 --> 00:06:31.685 Support the New York businesses, right? 161 00:06:32.185 --> 00:06:36.295 So to answer your question, I think you gotta get out there 162 00:06:36.315 --> 00:06:38.415 and you gotta meet people and you gotta have conversations 163 00:06:39.275 --> 00:06:41.695 and bring business cards, right? 164 00:06:42.125 --> 00:06:43.415 This is, this is business. 165 00:06:43.625 --> 00:06:45.535 Bring business cards, hand somebody your business 166 00:06:45.535 --> 00:06:46.615 card, they hand it back. 167 00:06:46.755 --> 00:06:49.415 That's how it's done. Everybody wants a bar sheet 168 00:06:49.415 --> 00:06:52.255 or Avar code, or they want a QSR. 169 00:06:52.635 --> 00:06:56.575 No. Have a business card, like a grown person and you, 170 00:06:56.675 --> 00:06:58.295 and connect with them and follow up. 171 00:06:58.295 --> 00:07:00.495 And, and, and that's how, that's how it's done.