1 00:00:00.505 --> 00:00:01.045 Hey everyone. 2 00:00:01.045 --> 00:00:02.085 Alison Berger here. 3 00:00:02.145 --> 00:00:03.885 I'm at Broker Fair 2024, 4 00:00:03.985 --> 00:00:06.685 and I am now Jo joined with Mike Mozza 5 00:00:06.705 --> 00:00:09.645 of Dedicated Financial Welcome. Well, 6 00:00:09.645 --> 00:00:10.645 Thank you. It's good to 7 00:00:10.645 --> 00:00:11.885 see you tell, it's good to see you. 8 00:00:11.915 --> 00:00:13.525 Tell me about Dedicated Financial. 9 00:00:13.795 --> 00:00:15.765 Yeah, dedicated Financial is a 10 00:00:15.765 --> 00:00:16.805 service provider in the space. 11 00:00:16.805 --> 00:00:20.965 So we do MCA collections, UCC enforcement, nationwide Legal 12 00:00:21.385 --> 00:00:22.645 and Portfolio Servicing. 13 00:00:22.945 --> 00:00:24.045 And what makes you different 14 00:00:24.045 --> 00:00:25.645 and the best amongst everyone else? 15 00:00:25.995 --> 00:00:28.725 Yeah, so we've been, uh, in this space since 2015. 16 00:00:29.265 --> 00:00:30.845 Uh, we have well over a hundred 17 00:00:30.845 --> 00:00:32.045 funders that we're working with. 18 00:00:32.345 --> 00:00:34.605 Uh, if you look at US online, five star Google rating, 19 00:00:34.845 --> 00:00:38.365 1400 reviews, A plus BBB rating, uh, you know, 20 00:00:38.585 --> 00:00:39.885 in the space we're part 21 00:00:39.885 --> 00:00:43.285 of the R-B-F-C-S-B-F-A Trade Association. 22 00:00:43.305 --> 00:00:44.925 So we're really trying to be, uh, 23 00:00:45.245 --> 00:00:48.285 industry leaders best practices, uh, do right 24 00:00:48.385 --> 00:00:50.445 by everybody involved as best as possible, 25 00:00:50.445 --> 00:00:52.485 while also getting the maximum amount 26 00:00:52.545 --> 00:00:53.885 of money back for our funders. 27 00:00:54.145 --> 00:00:56.765 And how are you achieving all these high ratings? 28 00:00:57.345 --> 00:00:58.525 Um, you know, uh, 29 00:00:58.775 --> 00:01:01.445 we're all about treating people like people, uh, 30 00:01:01.715 --> 00:01:04.085 rapport based, uh, collections work 31 00:01:04.225 --> 00:01:06.245 and just treating humans like humans. 32 00:01:06.465 --> 00:01:08.365 You, you run into situations 33 00:01:08.365 --> 00:01:10.965 where people like might have like a second generation, 34 00:01:10.965 --> 00:01:12.325 third generation business owner, 35 00:01:12.665 --> 00:01:15.365 father passes away suddenly, you know, 36 00:01:15.535 --> 00:01:16.765 sun's picking up the business. 37 00:01:16.875 --> 00:01:19.645 Like people have really crazy situations 38 00:01:20.025 --> 00:01:21.405 and they just need 39 00:01:21.405 --> 00:01:23.485 to be like helped and guided through that. 40 00:01:23.785 --> 00:01:26.525 And so when you run into situations like that, a little bit 41 00:01:26.525 --> 00:01:28.925 of compassion and working with them goes a long way. 42 00:01:29.125 --> 00:01:30.245 I mean, if there's five creditors, 43 00:01:30.245 --> 00:01:31.525 they wanna work with you, right? 44 00:01:31.945 --> 00:01:33.365 And so, and then like, 45 00:01:33.365 --> 00:01:35.365 there's definitely deadbeats out there 46 00:01:35.505 --> 00:01:38.765 and so you just use the tools to leverage that you have, 47 00:01:39.225 --> 00:01:41.885 but not putting yourself at risk out in the market. 48 00:01:41.885 --> 00:01:45.885 Right? And so our MO is all about like, how do you, 49 00:01:46.345 --> 00:01:48.885 you know, protect your brand, do a great job, 50 00:01:49.425 --> 00:01:50.805 and recover the monies you can, 51 00:01:51.265 --> 00:01:53.565 and, um, just help focus efforts 52 00:01:53.575 --> 00:01:55.005 where it makes the most sense. 53 00:01:55.465 --> 00:01:56.605 And what have you been seeing in 54 00:01:56.605 --> 00:01:57.685 the market so far this year? 55 00:01:58.475 --> 00:02:01.485 Yeah, um, I would say, you know, defaults, 56 00:02:01.485 --> 00:02:03.325 were at an all time low for a lot of years, right? 57 00:02:03.665 --> 00:02:05.885 And so we're finally seeing things shift in the market. 58 00:02:06.065 --> 00:02:07.485 Uh, you know, there's no surprise with a lot 59 00:02:07.485 --> 00:02:09.885 of folks in trucking space and things of that nature. 60 00:02:10.105 --> 00:02:12.845 But yeah, we're seeing more conversations, uh, 61 00:02:12.875 --> 00:02:14.525 more people are open to talking to us. 62 00:02:14.785 --> 00:02:17.605 Um, you know, a lot of times we've been on the back burner 63 00:02:17.965 --> 00:02:19.165 'cause it hasn't been, you know, 64 00:02:19.405 --> 00:02:21.525 a really a a a necessary conversation 65 00:02:21.525 --> 00:02:22.685 to talk about collections and legal, 66 00:02:22.945 --> 00:02:24.245 but more and more that's picking up. 67 00:02:24.345 --> 00:02:26.685 And then, you know, from the portfolio servicing side, 68 00:02:26.815 --> 00:02:28.645 we're one of the only ones in the space doing that. 69 00:02:28.865 --> 00:02:30.965 So I think people are still getting used to 70 00:02:31.235 --> 00:02:33.605 what servicing looks like in the MCA space. 71 00:02:34.025 --> 00:02:37.245 Um, you know, uh, like in when you go to like SBA 72 00:02:37.265 --> 00:02:40.165 or equipment finance, uh, line of credit, short term loans, 73 00:02:40.345 --> 00:02:42.205 all these spaces have a lot of servicers. 74 00:02:42.545 --> 00:02:44.325 Uh, it's just, you know, something that, uh, 75 00:02:44.405 --> 00:02:46.525 I think more people are becoming aware of now in, 76 00:02:46.525 --> 00:02:48.605 in the values around that in, in our space. 77 00:02:49.065 --> 00:02:50.565 And what are you aware of 78 00:02:50.565 --> 00:02:51.885 for happening for the rest of this year? 79 00:02:52.985 --> 00:02:56.085 Um, you know, I think there's a lot of people anticipating 80 00:02:56.115 --> 00:02:58.045 that the election is gonna change some things. 81 00:02:58.505 --> 00:03:01.045 Uh, you know, obviously the current administration doesn't 82 00:03:01.045 --> 00:03:02.205 wanna see the economy go in the tank. 83 00:03:02.355 --> 00:03:04.005 It's not good for them for their numbers. 84 00:03:04.505 --> 00:03:06.525 So I think until the election comes, 85 00:03:06.575 --> 00:03:08.605 we're probably not gonna see anything major happen. 86 00:03:09.045 --> 00:03:10.125 I mean, that's what I'm hearing 87 00:03:10.145 --> 00:03:11.245 and that's what a lot of people are saying. 88 00:03:11.705 --> 00:03:13.965 Um, I'm no economist, but that makes sense to me. 89 00:03:14.345 --> 00:03:17.245 So I think depending on which way the election sways, 90 00:03:17.565 --> 00:03:20.565 I think we'll see, um, some interesting things happen 91 00:03:20.565 --> 00:03:22.445 after that depending on which, uh, 92 00:03:22.855 --> 00:03:25.085 which party wins the office. So. 93 00:03:25.555 --> 00:03:26.845 Very interesting. Well, 94 00:03:26.865 --> 00:03:30.645 I'm having everyone giving me a 32nd broker bite, so 95 00:03:30.645 --> 00:03:31.925 what are you looking forward most today? 96 00:03:32.765 --> 00:03:35.525 Hmm. Well, I always, I mean, I've been coming to these 97 00:03:35.765 --> 00:03:38.845 for four years now, which is pretty short period of time, 98 00:03:38.865 --> 00:03:39.885 but I've made a lot of friends 99 00:03:39.945 --> 00:03:42.325 and so it's really great, you know, seeing, uh, 100 00:03:42.325 --> 00:03:43.965 guys like Keith behind the camera here. 101 00:03:43.985 --> 00:03:45.445 We were just in the Dominican Republic 102 00:03:45.505 --> 00:03:47.125 for a service trip in August. 103 00:03:47.665 --> 00:03:49.645 Um, you know, got several people here 104 00:03:49.645 --> 00:03:51.165 that I see at conferences all the time, 105 00:03:51.225 --> 00:03:53.165 so you make fast friends, uh, 106 00:03:53.165 --> 00:03:56.085 really excited about seeing people, spending time with 'em. 107 00:03:56.425 --> 00:03:59.005 And it's funny because like somebody might not be a 108 00:03:59.005 --> 00:04:01.525 potential business prospect today, but they move companies 109 00:04:01.525 --> 00:04:03.965 and all of a sudden now your friend is a potential business 110 00:04:03.965 --> 00:04:06.165 partner that works for you tomorrow, so, 111 00:04:06.345 --> 00:04:07.365 or works with you tomorrow. 112 00:04:07.465 --> 00:04:08.565 So like, I, I, I, 113 00:04:08.685 --> 00:04:10.605 I like the collaborative nature of this space. 114 00:04:10.795 --> 00:04:12.285 It's really exciting to see people 115 00:04:12.905 --> 00:04:14.285 and, uh, yeah, just, uh, 116 00:04:14.285 --> 00:04:15.725 have another great time in the big Apple. 117 00:04:15.955 --> 00:04:17.845 Yeah, and I'll look forward to my ticket 118 00:04:17.905 --> 00:04:19.045 to the Dominican Republic 119 00:04:19.055 --> 00:04:20.965 after this friendship's now been established. 120 00:04:21.195 --> 00:04:24.285 That sounds great. Thanks so much and we'll be right back.