1 00:00:00.145 --> 00:00:02.205 My name is, uh, Zalman Naik. 2 00:00:03.465 --> 00:00:06.845 Uh, I run an MCA track and go a CH. 3 00:00:07.785 --> 00:00:10.605 So one thing is management software for funders, 4 00:00:11.465 --> 00:00:14.725 and then we have a CH processing for funders and brokers. 5 00:00:16.165 --> 00:00:20.005 I would say what separates us the most is that we've been, 6 00:00:20.785 --> 00:00:24.645 you know, steady for since 2010. 7 00:00:25.185 --> 00:00:27.685 So a lot of reliability things. 8 00:00:27.705 --> 00:00:29.685 You know, you don't have to wake up in the morning wondering 9 00:00:29.685 --> 00:00:32.405 whether or not your merchants were debited properly. 10 00:00:33.585 --> 00:00:38.325 Um, on the a CH side, we allow people to, uh, 11 00:00:38.455 --> 00:00:40.205 debit on multiple descriptors. 12 00:00:40.305 --> 00:00:42.525 So it allows you to white label very easily, 13 00:00:44.825 --> 00:00:48.925 and we don't give you issues for high return ratios, 14 00:00:49.295 --> 00:00:52.085 which is always an issue on the a CH side of things. 15 00:00:52.745 --> 00:00:56.205 So, more geared towards the high risk side of this. 16 00:00:59.065 --> 00:01:03.685 So overall, when you come to an event like this, what, 17 00:01:03.755 --> 00:01:04.965 what role, what, what type 18 00:01:04.965 --> 00:01:06.725 of value does it provide to your business? 19 00:01:08.305 --> 00:01:10.205 So these events, uh, 20 00:01:10.455 --> 00:01:11.805 we've been coming to these events forever. 21 00:01:12.485 --> 00:01:14.205 I mean, I've known Sean for years. 22 00:01:15.295 --> 00:01:17.315 Um, it's very valuable 23 00:01:18.135 --> 00:01:20.395 to meet your existing customers in person. 24 00:01:21.105 --> 00:01:23.515 It's really nice. Build the shake of physical hand, 25 00:01:23.855 --> 00:01:25.035 you know, you get lost 26 00:01:25.495 --> 00:01:28.315 behind the computer sometimes you're sitting there, 27 00:01:28.315 --> 00:01:29.635 you don't get to meet people in person. 28 00:01:30.095 --> 00:01:31.395 So that's extremely valuable. 29 00:01:32.375 --> 00:01:35.315 Um, there's that aspect of it. 30 00:01:35.895 --> 00:01:39.715 Um, the energy is unmatched anywhere, you know, 31 00:01:39.775 --> 00:01:42.315 my wife knows that I come home after this conference. 32 00:01:42.415 --> 00:01:46.915 I'm sleeping for two days, you know, so good energy. 33 00:01:47.655 --> 00:01:51.115 And I'd also obviously wanna say thank you ko, 34 00:01:51.115 --> 00:01:52.835 but I don't know if he is not in the frame over air. 35 00:01:52.895 --> 00:01:54.875 And Sean, we have an amazing team, 36 00:01:54.895 --> 00:01:56.475 and obviously Mia ick as well. 37 00:01:57.375 --> 00:02:01.155 Um, I'd say, and one more thing. 38 00:02:01.255 --> 00:02:02.875 I'd just like to say thank you to Sean 39 00:02:03.455 --> 00:02:05.235 for the amazing kosher food. 40 00:02:05.295 --> 00:02:07.995 It really means a lot. I appreciate it. 41 00:02:08.995 --> 00:02:10.555 Absolutely. I know that's important to him. So that, 42 00:02:10.905 --> 00:02:11.905 That, thank You. 43 00:02:12.015 --> 00:02:15.595 So another thing is, if you're meeting, 44 00:02:15.775 --> 00:02:18.555 so you talked about meeting your existing customers here, 45 00:02:18.555 --> 00:02:19.955 seeing them face to face, but 46 00:02:19.955 --> 00:02:21.995 what about some new potential customers? 47 00:02:22.425 --> 00:02:23.955 What do you, what do you tell them 48 00:02:24.815 --> 00:02:26.755 as a reason why they should go with you? 49 00:02:26.935 --> 00:02:28.755 Or, or what, what, what, 50 00:02:28.865 --> 00:02:30.995 what should entice them to go with you? 51 00:02:32.095 --> 00:02:36.305 Oh, honestly, when I meet somebody new, 52 00:02:37.325 --> 00:02:39.185 our name in the industry costs for itself. 53 00:02:39.425 --> 00:02:40.625 I don't need to do much selling. 54 00:02:41.645 --> 00:02:45.185 You know, people know us, we've been here forever, um, 55 00:02:45.285 --> 00:02:47.745 and they come up to us with, oh, my friend uses you. 56 00:02:48.365 --> 00:02:50.625 So just showing up at the conference is enough. 57 00:02:51.405 --> 00:02:53.385 And, um, yeah, it's always nice to meet new faces. 58 00:02:54.245 --> 00:02:57.665 You know, I would say I was at the conference in 2018, 59 00:02:57.865 --> 00:02:59.560 I believe that was the first conference. 60 00:03:00.105 --> 00:03:01.645 I'd say I knew the entire room. 61 00:03:02.745 --> 00:03:05.205 Now I know only about 5% of the people in here. 62 00:03:05.665 --> 00:03:07.805 So it's a testament to what, you know, 63 00:03:07.805 --> 00:03:10.525 what Broker Fair has done to build out the industry. 64 00:03:10.985 --> 00:03:13.885 You know, um, it's a very fractured industry. 65 00:03:13.885 --> 00:03:16.365 There's people that are all over the us, you know, 66 00:03:16.365 --> 00:03:19.085 sitting in an office somewhere, you know, 67 00:03:19.085 --> 00:03:21.525 you bring everybody into a room, even if it's for one day 68 00:03:21.545 --> 00:03:24.845 or two days, um, it's worth its weight in gold. 69 00:03:25.205 --> 00:03:26.445 I would never miss this conference. 70 00:03:27.945 --> 00:03:29.165 You were saying you've been in 71 00:03:29.165 --> 00:03:30.245 this industry for a long time. 72 00:03:30.245 --> 00:03:31.925 The company's been in this industry for a long time. 73 00:03:32.425 --> 00:03:36.365 You've seen changes in our economy and, you know, 74 00:03:36.365 --> 00:03:40.665 and so what do you think is the current state 75 00:03:41.205 --> 00:03:43.705 of this industry right now in our 76 00:03:44.985 --> 00:03:46.225 domestic and global economy? 77 00:03:47.845 --> 00:03:51.025 So the merchant cash advance industry 78 00:03:51.805 --> 00:03:54.105 is very much resilient, right? 79 00:03:54.245 --> 00:03:57.385 So, you know, the economy may be a little bit tight, 80 00:03:58.525 --> 00:04:00.305 but as banks stop blending, 81 00:04:00.885 --> 00:04:03.345 the MCA space is really benefiting from that. 82 00:04:03.845 --> 00:04:06.265 So we've seen volume and the industry grow a lot. 83 00:04:07.285 --> 00:04:10.265 Um, it's very nice to see the increases. 84 00:04:10.605 --> 00:04:15.525 Um, I would say the economy as a whole, 85 00:04:16.505 --> 00:04:18.725 for the funders at least, they have 86 00:04:18.725 --> 00:04:21.725 to be a little bit more careful in how they fund the deals. 87 00:04:22.075 --> 00:04:23.925 More cherry picking, right? 88 00:04:24.345 --> 00:04:25.645 To make sure they don't take losses. 89 00:04:26.225 --> 00:04:28.125 But other than that, it's slow and steady growth. 90 00:04:28.155 --> 00:04:30.685 I've watched over the years get bigger and bigger. 91 00:04:31.225 --> 00:04:34.765 Um, good economy, bad economy. MCA is booming. 92 00:04:36.465 --> 00:04:38.965 My last question for you is, if there's someone new 93 00:04:38.965 --> 00:04:41.005 that's getting in the industry, whether they want 94 00:04:41.005 --> 00:04:43.085 to get into, be a broker, a lender, 95 00:04:43.585 --> 00:04:45.845 or maybe get into the technology side of them 96 00:04:46.345 --> 00:04:48.685 of the industry, and they don't really know much about 97 00:04:48.685 --> 00:04:51.125 what they're getting into, what, what bit 98 00:04:51.125 --> 00:04:53.205 of advice from someone who's a veteran in the industry 99 00:04:53.415 --> 00:04:54.565 would you have for them? 100 00:04:56.175 --> 00:05:00.955 I would say, uh, slow and steady. Don't buy the hype. 101 00:05:01.945 --> 00:05:04.595 There's a lot of, uh, flashiness over here. 102 00:05:05.575 --> 00:05:10.035 Um, so it's, it's really the hard work, the hard work, 103 00:05:10.535 --> 00:05:14.555 steady growth, you know, show up every day, do the work, 104 00:05:14.775 --> 00:05:16.395 go home, repeat the next day. 105 00:05:16.745 --> 00:05:18.355 Over years you'll be successful. 106 00:05:19.895 --> 00:05:21.155 It comes off the industry, 107 00:05:21.155 --> 00:05:23.275 sometimes comes off as quick money. 108 00:05:23.975 --> 00:05:27.315 And if you come in with that mindset, you know, you'll, 109 00:05:27.315 --> 00:05:29.835 you'll, uh, you get nervous when you're not having 110 00:05:29.835 --> 00:05:30.835 that instant success. 111 00:05:31.415 --> 00:05:34.035 So stick to it. Um, I think a lot 112 00:05:34.035 --> 00:05:36.795 of people in this industry, you know, high attrition, 113 00:05:37.145 --> 00:05:39.155 they last three months, six months. 114 00:05:40.015 --> 00:05:42.915 Um, I think if you stick it out for a year, two years, 115 00:05:42.945 --> 00:05:46.755 five years, 10 years, you start seeing real serious results. 116 00:05:47.095 --> 00:05:48.515 You can provide real value. 117 00:05:48.775 --> 00:05:50.995 You're helping real businesses around the country. 118 00:05:51.775 --> 00:05:54.395 Um, you know, and it's financially, uh, 119 00:05:54.395 --> 00:05:56.995 there's a financial incentive as well, you know, 120 00:05:57.005 --> 00:05:59.805 know it's could be very good income if you're on top of it 121 00:05:59.825 --> 00:06:00.925 and you provide good value. 122 00:06:02.665 --> 00:06:04.305 I think that's a great way to end the interview, 123 00:06:04.305 --> 00:06:06.465 but I do want to leave the floor open to you. 124 00:06:06.465 --> 00:06:08.025 Is there anything you want to say that maybe you 125 00:06:08.025 --> 00:06:09.185 and I haven't talked about yet? 126 00:06:11.005 --> 00:06:14.585 Um, I would say that, and I don't say this a lot 127 00:06:14.585 --> 00:06:17.945 because you know, there's a lot of, uh, you know, 128 00:06:18.285 --> 00:06:20.985 the MCA space is very quick and everything's fast moving. 129 00:06:21.365 --> 00:06:23.465 So I wanna say thank you to all of our customers. 130 00:06:23.885 --> 00:06:26.025 We have people, uh, that have been with us forever, 131 00:06:26.485 --> 00:06:29.505 and it's more of a partnership than anything else, you know? 132 00:06:30.165 --> 00:06:32.225 Um, so I don't say that enough. 133 00:06:32.505 --> 00:06:34.265 I really don't wanna say thank you to everybody 134 00:06:34.845 --> 00:06:36.225 and obviously thank you for everybody 135 00:06:36.225 --> 00:06:37.425 who was arranging this event. 136 00:06:37.845 --> 00:06:39.465 You know, Sean, um, 137 00:06:39.485 --> 00:06:41.345 and everybody else that was involved, it's not easy 138 00:06:41.345 --> 00:06:42.905 to put together such an amazing event. 139 00:06:43.445 --> 00:06:44.305 And that's about it.