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There are plenty of things you can do to get higher search engine rankings, from page optimization on your website to keyword research, building backlinks, and more regardless of the industry you are in. Even though the search engine algorithms which determine rankings change often, there are still tried and true SEO methods that are proven to help you rise higher in the rankings throughout these changes. Here are the Top 10 best practices for SEO success: 1. Ensure that your website is secure. Most people today are concerned with the privacy and security of the websites that they visit. Consequently, this is also a crucial ranking factor in search engines. A secure website will always rank higher than one that isn’t secure. ● Talk with your web host or web manager about the type of security that is most appropriate for your website. A security certificate will ensure that your content is delivered by SSL (secure socket layer). ● With SSL, your website will start with an “https://” instead of “http://” and the little lock icon will show up next to the web address in many browsers. 2. Add your main keyword early into the content. Including your keyword early on lets the search engines know what your content is about. Additionally, sprinkle the main keyword throughout the rest of your content too. ● This will tell the search engines that this term is important, which will help you rank well for this term. 3. Use unique titles, descriptions, and content. This lets the search engines know that your content is original material and can add further knowledge to the other information that can already be found on the internet about your topic. 4. Optimize your title tag for SEO. Always include your main keyword in the title tag for your website, and if possible, put it at the start of the title. This will give priority to this keyword. 5. Ensure that your website loads quickly. It’s important that you make your website load as quickly as possible. Especially with the advent of smartphones, loading time is an important ranking factor in search engines. ● Compress the size of images, remove any unneeded code, and consider using a content delivery network (CDN). If you use a CDN, your website will be able to serve images and other media from servers that are close to your audience, thus cutting down on the loading time. ● Many web hosts now use CDNs to deliver content for their clients’ websites. Talk with your web host or your web manager about this priority. ● If you have a WordPress site, there are many plugins that help you speed up the loading time for your website. 6. Optimize any images. You can do this by giving the filenames descriptive names. Using image alt text is also recommended so that the search engines can understand what images are present on your website. Properly optimized images can boost your website rank. 7. Use internal linking. The key here is to link to your main pages. So, any smaller pages can link to a larger, authoritative piece. This will help to increase the rank of the more important page. ● Try to use the main keyword, or a variation of it, in your internal links to ensure that the search engines know what the page is about. 8. Create amazing content. Write high-quality content that answers questions that your readers might have about your topic. ● If you can answer a question in less than 1,000 words, that is fine. However, it’s worth noting that it’s important to be thorough with any answer, so you may want to write considerably more than this amount. ● Many of the highest-ranking pages include longer, authoritative content. 9. Build backlinks to your website. Despite what you may have read online that backlinks are no longer important, please note that backlinks, when done properly, are still very important. They show the search engines that your content is valuable enough for other webmasters to link to. ● When you first start your website, you may want to go slow when building backlinks. After a few months, you’ll be able to ramp up your efforts. ● With this strategy, you want to obtain links from other important websites in this field. Links from low-quality websites that accept advertising from anyone to any website are likely to hurt your search engine rankings. 10. Look at the user experience. If you find that visitors are struggling to navigate your website or that you have a high bounce rate, which is when people leave your website after just a short time, take a close look at your user experience. ● Perhaps your visitors aren’t finding the answers that they’re looking for, or maybe your website is broken in some way. See what you can do to improve the overall experience of your visitors. Following these Top 10 SEO best practices will enable you to achieve higher rankings in the search engines. The higher you rank, the more traffic you should be able to achieve, and ultimately the more sales you will be able to make.

Sales is a marathon, not a sprint. It involves prospecting, nurturing, building relationships, connecting, and yes, closing. Dux-Soup(DS) is a lead generation automation tool for LinkedIn that can boost your sales by helping you find, attract, and engage with prospects. Once you have the Dux-Soup Chrome Extension setup, you only need to make a couple of clicks to let DS start reaching potentially hundreds of LinkedIn users per day. LinkedIn, with its 500+ million professionals, is a great place to generate leads and Dux-Soup will definitely help you there. Dux-Soup is best for seeking and building relationships with B2B decision-makers for selling your product or service. For a loan broker, if you search for a specific term like "restaurant owner", LinkedIn will return all of those results which you then use DS to connect with. This will help you cover hundreds of profiles which, in turn, will help you land solid leads. The idea behind using the tool is to save time while being more efficient when prospecting for leads. Automation tools like DS can help bring you to the sales finish line, delivering triggered responses and follow-ups so you don’t have to sit staring at your inbox, wasting valuable time. When done correctly, automation doesn’t replace authentic connection, it complements it. Automation is powerful and increasingly popular. The true strength of automation comes from its unparalleled ability to combine and integrate various tools to build the perfect solution for whatever it is you need or want. And in sales, what you need and want is leads: a steady, uninterrupted flow of qualified leads arriving at the top of your sales funnel. Why use Dux-Soup Dux-Soup essentially becomes your virtual assistant on LinkedIn. It saves you countless hours when trying to reach your target audience compared to manually performing actions to do so. Not only does DS keep track of every profile visit you make, but it also allows you to make notes and tags when doing so. It has a very convenient UI with several useful features such as automatic messages and capturing data such as emails when available. All the data recorded can be exported into spreadsheets for reports or outbound campaigns. A major plus, especially for beginners, is their responsive customer support. They are incredibly fast and can guide you through how to use all the different functions. Dux-Soup is important in the management of potential clients. You can interact with them through InMail even if they are not part of your connections. DS records your previous engagement and it can easily take action based on that. When running campaigns, this tool comes in handy because it helps to create relevant target groups to increase your rate of conversion. Features Here are some of DS functions: Auto-visit profiles Auto-skip previously visited profiles Auto-message 1st-degree connections Auto-endorse connections Auto-follow any profile Sending auto-invites with a personalized message Visit profiles lists Visit based on previously downloaded CSV Visit previously tagged profiles Filter different fields like ‘Premium Members’, ‘Job Seekers’, ‘Influencers’, ‘Open Link members’, and ‘CRM imports’ Workflow integrations with other platforms (only for Turbo plan users) Plans and Pricing There are three plans for you to choose from: Starter, Professional, and Turbo. Some of the features per plan: FAQs Q. What is Dux-Soup used for? Dux-Soup offers Lead Generation automation specifically for LinkedIn Q. How much does Dux-Soup cost? Dux-Soup has 2 different plans: Professional at $14.99 per user per month(annual plans lower) Turbo at $55.00 per month. Q. Does Dux-Soup offer a free plan? Yes, Dux-Soup offers a free plan. Q. Does Dux-Soup provide API? No, Dux-Soup does not provide API. Q. Does it have connections with other platforms? Dux has workflow integration with two tools – Hubspot and Zapier. It plans to further add more CRM, sales automation, and marketing automation platforms in the future Q. Do you need any coding or technical skills to set DS up? No, the setup is simply downloading the DS extension from Google Play then choosing options from the settings. Conclusion 4 Stars Its not easy to get a 5 Star rating so even with 4 stars here I highly recommend Dux-Soup because it offers immense features and capabilities for the sales person seeking to automate and enhance their lead sourcing. With all the automation tools I have worked with, Dux-Soup is the most user friendly, dependable, and best value for the return on investment. Best part is you can start building relationships and gaining new business immediately. What’s your best advice for lead generation? What works best for you? Leave your thoughts in the comments below.

A positive brand image can surely impact a client's decision to purchase a product or service. Every firm can start establishing or enhance its positive brand image with online reputation management(ORM). Nowadays, internet reviews and social media sites play a big role in determining your reputation. Consumers, for example, typically read an average of 10 online reviews before trusting a local firm. Since a brand's image has such an impact on a customer's choice to buy, you should keep an eye on your internet reputation frequently. It certainly can seem like a difficult endeavor, especially when so much is outside your control but it would be worth it. Fortunately, you may use various tools and tactics to ensure that your brand is protected in 2021. First, you should establish a plan to manage your company's reputation and assign certain tasks for brand reputation management. The following are some tools to help you along the way. Sales and marketing are influenced by reputation The practice of ORM is done in the departments of sales and marketing. Why? Simply because what people perceive of a brand has an impact on sales. Selling a product to a consumer who does not trust or believe in your brand is extremely difficult. You can pave the way for positive messages to have the most impact if you have a competent online reputation management strategy in place. Your conversion rate will improve as your reputation improves. Reviews and testimonials While your company may receive online testimonials and reviews, have you been promoting them on social media? The classic example of social proof is customer reviews which you should then use in marketing and promotions. Additionally, posting ratings and reviews on your website, as well as sharing on social media, informs your audience about what others have to say. Sharing this type of information attracts new clients. And after you figure out how to ask for reviews consistently, you'll have plenty of content to use going forward. Personal reputations are very crucial We have largely talked about reputation management in terms of businesses, but it's also crucial for individuals. It is relevant for everyone since at least some information about each person can be found online. So whether you are the billionaire hedge fund manager trying to hide an extramarital affair from the public eye, the musician who made a major photography blunder on Facebook, or the commercial finance broker that shared too much on their Instagram account, all should be cognisant that everything you post online doesn't just disappear and can be used against you without you even realizing it. When doing business with someone, interviewing candidates for a job, or just networking, people will Google your name. It's just the way people are in society today. So if they find your name associated with a company they are also reading your company's reviews and discussing them on social media. With so many different channels at play, there are many opportunities to ruin your reputation swiftly so it's critical to social proof yourself and your business to represent your best. When your name or company is typed into a search engine, the displayed results are what you need to focus on procuring. Accolades and awards Has your company received any awards or been named to any industry best-of lists? Show off your skills! It is an excellent approach to let people know that your company is known for its quality. Many lists and awards will provide you with a badge image, which you can display on your website to highlight your brand's achievements. Conclusion In today's economy, it's vital to assess your company's ORM. You should that assessment to plan out how to enhance and manage your brand. Use all of your customer input assets to promote your brand across multiple channels.

It's the beginning of the month, and you know what that means, announcements for Bonus Points! Did your eyes glaze over that last bonus point program post or email you saw? Whose bonus point program stands out? Are brokers reaching these volume bonuses or is it mainly a marketing gimmick? There are certainly bonuses being paid out but is that what's keeping brokers loyal to any given Funder? Let’s explore a few things Funders do to create loyalty, gain more submissions, and some ideas that could be implemented in this area to really differentiate your funding company while creating more stickiness and loyalty to your brand. Bonus points, gifts, and special privileges do help submissions numbers but most Direct Funders are doing this to some extent. Some offer the same bonuses so it’s consistent throughout the year in order to reach annual bonuses while others change up every month depending on what they feel could benefit brokers. Themes often depend on an event or special holiday coming up. March Madness is over, did anyone win anything? Comment below if so. If a funder offers a VIP like underwriting experience if that ISO meets the bonus level, how is that underwriting time really measured or proven to actually take place? It’s difficult and likely really mostly talk or lacks much difference in processing time . To create more loyalty Funders need to be creative, innovate and stay ahead of other funders. Relationships are a big part of why brokers stay with any particular funder but this industry is a ‘what have you done for me lately’ mentality. One deal goes bad and that broker’s submissions go elsewhere. Too many options out there for brokers to deal with issues getting deals funded. Relationships alone won’t keep brokers from taking their business to one of the others. Are any funders offering loyalty rewards programs? There is absolutely a way that can work depending on how it’s structured. You can have a point system based on the number of Submissions, Offers, and Funded deals. Then issue rewards based on those points. ISOs could cash in at any time or choose from any number of rewards like a catered lunch for the office. Banks offer cashback systems or other types of incentives where something similar can be done in the business lending space for brokers. A system would be set up where an ISO can track their points in an account created in the funders platform. This may even be in addition to bonus points if the value is that much less. However, it creates an ongoing reward system to submit quality deals. How about a volume reward being an NFT? With all the craze around NFTs(Non-Fungible Tokens) the possible use cases are virtually limitless. A funder could reward an ISO that reaches some funding volume for the month or year with an NFT, where the potential future value is really exciting. Just logon to NBA Topshot for one type of NFT. Another way is using an NFT as a way to gain access to something, essentially a membership token (view video here at 18:13min for explanation). So potentially a forward-thinking funder can have an NFT minted to reward only those approved ISOs that meet the requirements to then use to gain access to certain bonuses, meetings, or events. This would not be a small undertaking, but the future is limitless for creative minds. Of course, I’m not even mentioning advancing funds using an NFT as collateral, which is already being done for loans but that's a topic for another day. So what is really driving loyalty and more funded deals? Its a challenging time for all even if you are funding a high volume because that certainly isn’t coming easy. Everyone is fighting for deals maybe more so than ever so ISO department managers must be creative in their approach and execution to win more deals.

Square, Inc. officially launched its own bank earlier this month. This news comes after a regulatory approval process with the FDIC and Utah Department of Financial Institutions that took several years. The new entity, Square Financial Services based in Salt Lake City, will focus initially on offering business loan and deposit products to its customers that already use Square for their payment processing services. Any new products will add to the business loans Square Capital already offers which were issued in connection to a partner bank. The plan to bring banking in-house will allow Square to broaden the offerings to its customer base as well as be more agile and flexible with operations. The company does not expect this to impact the financials much this year. They will limit their balance sheet exposure by selling loans to third-party investors. This move will also differentiate them from other competitors in the merchant services and business lending spaces as it is not common for fintech companies to obtain bank charters. Outlook The competition in the segment of the industry in which Square Capital competes, now with its bank Square Financial Services, will intensify. This move should not be underestimated by anyone including even traditional banks. Square will likely keep scaling and add to their maximum lending amounts. Since the FDIC approval for this bank happened about a year ago, I am sure most competitors have been strategically planning and have taken some actions already. Although I believe it’s still an industry in between the growth and shakeout phase, this development will move the industry definitively into the shakeout phase. Companies like Paypal, Enova-who recently acquired OnDeck, and Bluevine are all industry leaders with considerable stakes that have also expanded products to stay ahead of the curve. Bluevine for example launched its own business checking accounts. Smaller companies will be forced to make tough decisions. There have been several mergers, acquisitions, and lenders closing over the past year, some of this due to the pandemic. I expect that to continue as these lenders fight for market share and create strategies that they can keep pace with Square or move ahead. The main competitive advantage for many alternative financial institutions is data. Square gains more of this internal resource from a client that uses its Square processing systems which then is used to offer loans to those businesses. The more data they obtain, the better the pricing on the loan because of less risk. For the competitors that don’t have this processing data, they have to use other means of obtaining data in their underwriting models that may be slower and have more friction. For example, having to receive PDF bank statements or customers linking their bank account using a third-party company to verify transactions via software integration. Even then, they don't control the accounts money is flowing through. By becoming a bank Square will add to the data sources as they will have a more complete banking ecosystem for merchants. This will help the merchant in better user experience and opportunities while also possibly increasing market share for Square as competing firms fail to acquire enough customers, cannot compete with the products or the cost of funds Square can offer. The competitors who are smaller, have a higher cost of capital and thus compete at higher price points for loans, or other alternative lending products like merchant cash advances, may not for the foreseeable future be able to compete with Square. They will concentrate their efforts on those merchants that aren’t in the Square ecosystem, or won’t qualify for Square or similar technologically advanced lenders. Whatever their intended strategy formulated previously may need to be adjusted. They will need to improve efficiency and technology to stay competitive in their pricing segment and ultimately survive long term. Shane Mahabir shane@funderintel.com Sources https://www.cnn.com/2021/03/02/tech/square-bank-business-lending/index.html https://www.cnbc.com/2021/03/02/square-stock-jumps-after-it-launches-its-own-bank.html https://techcrunch.com/2021/03/01/squares-bank-arm-launches-as-fintech-aims-to-operate-more-nimbly/ https://squareup.com/us/en/press/square-financial-services-begins-banking-operation

For those Funding companies and even ISOs looking for partners to drive submissions and applications for merchant cash advances and other products, we recently published a list of some of the merchant services companies that offer business financing options. Many of these companies have very close relationships with their clients so the quality of submissions could be higher than average. Often these merchants have had their processing with these companies for years which means the processor has a history of transaction data and possibly even payments of other advances, loans or credit lines. We are providing the list as a source to help grow your funding business, not guaranteeing outcomes. These are all publicly sourced and can be found online using the links provided. Some of these processors already have established relationships with Direct Funders however in these Covid19 times that may be up for discussion. There are also opportunities to exchange other services such as credit repair or equipment financing. What Is a Merchant Service Processor? Also referred to as a payment processor, it is a company appointed by a merchant to handle transactions from various channels such as credit cards and debit cards for merchant acquiring banks. For e-commerce transactions, a payment gateway sends card and order details to the merchant processor who then both checks the details received by forwarding them to the respective card’s issuing bank or card association for verification and also carries out a series of anti-fraud measures. Once the merchant processor has received confirmation that the credit card details have been verified, the information is sent back via the payment gateway to the merchant, who will then complete the payment transaction. If verification is denied by the card association, the merchant processor sends the information to the merchant, who will then decline the transaction. In general, a company that wants to accept credit card payments online requires both a payment gateway and merchant processor. In some cases, the payment gateway and merchant processor may be the same company, as is the case with Square, Stripe, Bambora, and PayPal. GOTO MERCHANT SERVICES LIST

​Continuing our series on professionals in the alternative and commercial finance spaces to find out more about how they succeed in their business. The experience levels will vary but these are people who work very hard at their craft. They take care of their clients first, above all else, in order to build a long-lasting business. Todays Featured Professional is Heather Francis, CEO Elevate Funding Please tell everyone about you, your business, and how you got into the industry. My name is Heather Francis, and I am the CEO and Founder of Elevate Funding. Elevate Funding is a provider of Merchant Cash Advance, which is a product that purchases the future sales of small businesses, allowing them quick access to working capital. I have been a part of this industry since 2009, and I honestly stumbled my way into the space. Moving on from the elevator pitch, I want to give you some info most people don’t know. I wasn’t interested in finance when I was a kid. I wanted to be a hairstylist, a lawyer, a teacher, and ultimately tried making my way into the medical field. I never saw myself in finance, but when I was hired out of college at a private equity firm, everything clicked, and my brain just started thinking of ways to do it better. Personally, I have two boys and a husband of 13 years who is in law enforcement. I label myself as the “modern soccer mom.” I am “modern” because we use an SUV instead of a minivan, but that is the only distinction. My oldest is a goalie in the MLS Next program with Jacksonville Football Club, so soccer is a big part of our lives, and it keeps us on the road throughout the southeast. I have perfected the balance of working remotely while traveling for his events – with the help of my husband, Onstar internet, and the wonderful team at Elevate. My dream job would be singing. I love music, but I am tone def. My taste in music is very eclectic. Spotify gave up on suggesting music for me since I am all over the place. Even in my business travels, I am always looking for nearby concerts. A final point that many don’t know is that I am an introvert. I really have to get outside my comfort zone when traveling for business events and push myself not to hide out in the groups that make me feel comfortable. I usually hold myself to a goal of approaching five people a day, but sometimes I just can’t do it. So, if you see me at a show [when we have them again], please don’t hesitate to approach me. It actually saves me a lot of anxiety! What products do you offer? Elevate is a Merchant Cash Advance direct funder. A Merchant Cash Advance is the purchase and sale of future receivables for a small business. We have built multiple programs under that umbrella – the Embark programs, the Flex Funds add-on, and now the Abound program, which is our newest addition. What documents are needed and how long does the whole funding process take? We require an application, three months of bank statements, proof of ownership, a voided check, and a driver’s license. The funding process is usually dependent on the business owner and how quickly they move to sign agreements and provide requested documentation. Our average timeframe is about 24 hours. In what ways does Elevate help lead the industry? What makes you stand out as a direct funder in the MCA space? Elevate is all about transparency – both with our partners and the business owners we service. We strive to continue improving and building upon our business model while putting our merchants first. Elevate is also a part of the Small Business Finance Association (SBFA), and we continue to work with the association (along with state and federal regulators) to improve our industry. What advice would you give small business owners who are considering alternative funding for their businesses? My advice to any business owner looking to obtain capital for your business is to be honest with yourself on what you need, what you can afford, and what your business is really worth. Once you have those metrics, you can successfully start looking into products and find what fits your needs. What are your growth goals for the new year? What are you hoping to accomplish in 2021? This year is going to be weird – coming off the pandemic and seeing how we move forward – it’s going to be a telling time. Below, you’ll find some of our goals for the year – some are new things we want to try; some are processes we want to add on to; and some are processes we want to remove completely. The new: to provide valuable updates to our proprietary client management system (Elevate View), to create synergistic relationships with vendors that will help improve small business financial outlooks, and to see our organic growth take off. The old: to continue to grow our brand through social media campaigns, to continue to provide educational content to both merchants and referral partners alike, and to continue innovating our financial products for the betterment of small business. The ugly: to remove the slow and unsafe email submission practice, and to remove our COVID restrictions. What is your top piece of advice you would give to owners/CEOs of other small businesses? This may be contradictory to what most people see on their LinkedIn feeds, but I will share it anyway. It is okay to be still! Sometimes we need to slow down and stand still to see the full picture. I find that most of the ideas that have any worth come to me when I am in a moment of stillness. What are you most proud of when you look back on Elevates growth and progress through the years? We have held true, and will continue to hold true, to our core values; from the first deal funded to the last payment received, we are here for the benefit of the merchant and to help small businesses achieve their goals. I am proud that we have not given up our integrity for the sake of a dollar. Anything else you would like to mention? We recently came out with a great addition to our merchant portal that will greatly benefit our small business owners. We have set up a self-service feature that gives merchants control of their payments – that way they can keep us up to date on how their sales are fluctuating and we can adjust their payment amounts in a more timely manner. Heather Francis is the CEO and Founder of Elevate Funding. She can be reached at: 1-888-382-3945 www.elevatefunding.com

Choosing a third-party commercial collection agency is of vital importance to any organization that extends funding or that provides Business-to-Business services on credit, including equipment finance companies, Merchant Cash Advance factors, and traditional commercial lenders. While most companies choose a third-party commercial collection agency based upon the potential returns that a given agency might provide, it is also critical to consider the potential risks that are borne by such a choice. AGENCY ETHICS Perhaps the most fundamental risk arising from the choice of a third-party commercial collection agency is whether those involved will be honest, open, and transparent, both when interacting with you and when interacting with debtors on your behalf. That is, will the agency behave ethically? Making this determination requires more than merely asking if they’re ethical. Consider that many well-known people of supposedly good character have been found to be ethically deficient once their unknown activities came to light. Their public persona didn’t control their actions when no one was looking. So, when making a choice between agencies, do you want an agency that will be open, honest, and transparent with you only when you’re watching them, or open, honest, and transparent all the time in all of their dealings with you and with others? Obviously, the latter is the much better–and ultimately safer–bet. You should want ethics in your business dealings, you should want to be surrounded by ethical people, and you therefore should want your agency to act ethically as well. But how will you know before making your selection that an agency will act ethically? That’s the critical question, and in order to answer it, consider the following: Unless there’s something you know about tomorrow that will make it look different from today, most people would expect tomorrow to look pretty much the same as today, and they’d probably be right most of the time. In other words, without some sort of information that indicates that the past will be different from the future in some meaningful way, the best indicator of how an agency will act tomorrow is how they act today and how they’ve acted in the past. Therefore, if you want to know if an agency will act ethically, you should investigate whether they’ve acted ethically with others in the past. • Ask for references from their other clients and check with your competitors if you’re comfortable doing so. Do they have a reputation for acting ethically, or are they known for pushing ethical boundaries to a point at which you feel uncomfortable. • Look at their online reviews, including Glassdoor®, Google®, and social media. Subtract the bottom 10% (because you can’t please everyone) and get a sense of what online people complain about and what online people praise the agency for. • Look at their history of regulatory and Better Business Bureau® complaints. (In fact, see if they are even a member of the Better Business Bureau®, which gives an indication that the agency is aligned with industry best practices and overall ethical standards.) Again, subtract the bottom 10% (because you can’t please everyone) and get a sense of what people have felt about strongly enough to go the extra mile with their complaint. • Look at their history of lawsuits. However, be careful of drawing strong negative conclusions unless the volume of suits seems high or the overall trend is clear and consistent. Unfortunately, imaginative attorneys have created an entire business model that is focused exclusively on the collection industry, so be cautious when drawing conclusions in this area. Consider that someone filing a Better Business Bureau® complaint has no reasonable incentive other than to vent, receive an apology, or cause a change in perceived problematic business practices, whereas a plaintiff filing a lawsuit has the potential of receiving tens or even hundreds of thousands of dollars in damages for something as simple as alleging that they “heard a click and a pause” when they received a call, so the agency “must” have been using a predictive dialing system. • Ask your peers for a review. Does the agency have a reputation for consistently “forgetting” to remit client balances, and then “apologizing” when their errors are discovered? SUMMARY In short, choosing a third-party commercial collection agency is a matter of comparing potential returns and risks in order to achieve an optimal balance of both, and the purpose of this article is to present one possible outline for making such a balanced choice. Shawn Smith is the CEO and CFO of Dedicated Commercial Recovery Inc. Shawn is a trusted producer, manager, closer, and trainer in the Commercial Recovery Industry, and has built a reputation of excellence, professionalism, and passion in both his business and his personal life. (612) 351-3945 www.dedicatedcri.com

As part of a new series, we will interview professionals in the alternative and commercial finance spaces to find out more about how they succeed in their business. The experience levels will vary but these are people who work very hard at their craft. They take care of their clients first above all else in order to build a long-lasting business. Todays Featured Professional is Angelo Standriff of Gateway Commercial Finance Hi Angelo, tell us a little about you and how you got into the commercial finance industry? "I come from a family who ran a small business which allowed me to work several odd jobs while growing up. I enjoyed learning about business operations and seeing how owners work to grow their companies. I started studying finance in college and was looking for some part-time work in the finance industry. I was offered a sales position with an invoice factoring company and have been in the industry ever since. I'm currently with Gateway Commercial Finance." ​ How can business owners find you? "By visiting my LinkedIn page or reaching out via email angelo.standriff@gatewaycfs.com ​ What type of products do you offer? "I am a direct lender and service provider for Invoice Factoring, Ledgered Lines of Credit, and PO Financing." So for the business owners who are reading this, what would you like them to know about you? "I will spend more time than most in an initial conversation by asking questions about their business. My goal is to ensure Invoice Factoring or a Line of Credit is the best option for them before gathering paperwork. It’s been my experience when rushing to close a deal, issues come up later in the process and ultimately waste time for everyone involved. If I am not the best solution for a business, the initial conversation will provide me an idea of what lender would be better suited. " ​ What are some differences between your products and others in the marketplace? "The biggest difference is Invoice Factoring is not a loan and does not affect the balance sheet. Business owners are free to Factor an invoice at any time they need funding instead of taking a loan using the business’s assets as collateral. Also, my underwriting is focused on the credit-worthiness of my client’s customer. This allows me to work with start-ups, bank turndowns, and even Debtor-In-Possession situations." ​ What documents are needed and how long does the whole funding process take? "I can complete underwriting and have a proposal within an hour of receiving an A/R summary, A/P summary, Financials (if available), and a few sample invoices. Application to funding takes anywhere from one to five business days depending on how quickly a business is able to provide the necessary documents." For those industry peers who may be reading, what tips do you have for growing your business or being better at what you do? "Being comfortable moving on from a deal that has significant red flags instead of forcing your lending partners to look at it. That can cause fatigue for you, the client, and the lender." ​ What do you see in the industry that you might say you have to make adjustments? "I see the credit worthiness of some businesses being a potential issue. Every industry has been affected by COVID-19 and banks/lenders are going to become conservative. We will likely make adjustments to our credit requirements based on specific industries that may have been hit harder than others." ​ How do you choose brokers to continue working with? "The brokers who take the time to review a deal before sending it to the place that will make them the most commission immediately are the ones who stand out to me. I find they are more successful long term because they have clients who continue to return to them after providing a quality resource." ​ What strategies do you use for generating deals? "I work directly with brokers, bankers, lawyers, and occasionally CPAs. Any person who works with small businesses on a regular basis is a person I try to connect with." ​ What's the most important thing you work on each day or week? "Networking drives the success of my business. Therefore, I use downtime each day to connect with at least 5 to 10 people in the industry." Angelo Standriff and Gateway Commercial Finance have been in the factoring industry for over 20 years. He's a guest contributor to Funder Intel. You can reach out to Angelo at Gateway Commercial Finance here: (850) 212-0622 angelo.standriff@gatewaycfs.com www.gatewaycfs.com

With the President signing into law the CARES Act on Friday, business owners around the country can see some short term relief in sight. The 2.2 trillion dollar emergency relief package that congress approved will go towards several aspects of the economy to help people all over the country and much of it will help businesses. Business loan broker, online lending companies and other stakeholders have an opportunity to take part in this massive economic aid. When looking at the total impact this pandemic is having, it is unlike any other crisis in most of our lifetimes. It's not like the 2008 financial crisis. That was market driven and businesses were not forced to close. After 9/11 some businesses in certain areas had to close or shut down temporarily but that wasn’t nationally. The Dot Com bubble, the 1987 stock market crash and other economic recessions weren’t on this scale. The 2.2 Trillion dollar price tag put in the CARES Act law all but proves that. Most of the focus today will be on the business side but I must mention the money being sent to everyone regardless of employment, though with income restrictions. You may have heard that this law will provide for each person to receive $1200(or less). Sure, this $1200 plus $500 per child doesn't seem like much for the average worker, but this amount is intended for emergency relief, not money to buy non-essential items. However that's only the start of potential money available. A small business owner(500 employees or less) has a couple of options to discuss with their financial institution(or broker). They can apply for the Paycheck Protection Program through any SBA lender or an Economic Injury Disaster Loan (EIDL) , to cover costs and pay workers or recently laid off staff. There are a few variables to determine the amount you would qualify for these types of small business loans but it will be mainly based on the 2019 average monthly payroll and other compensation which could lead to a loan amount equivalent of 2.5 times that average. This loan would turn into a grant as long as its used for appropriate payroll expenses. With that amount plus the $1200 that worker would then be in a better position to make it through this tough stretch. It may not be enough(it never is) for some but it should help with meeting needs. The clear goal of the Senate Committee on Small Business and Entrepreneurship regarding what the bill would include was getting aid to business owners the fastest way possible. This will be directed in many different ways as one key part of this bill demonstrates: "Loans would be available immediately through more than 800 existing SBA-certified lenders, including banks, credit unions, and other financial institutions, and SBA would be required to streamline the process to bring additional lenders into the program. The Treasury Secretary would be authorized to expedite the addition of new lenders and make further enhancements to quickly expedite delivery of capital to small employers." Most of congress seemed to agree with the money allocated to small business owners although some thought this package, even as big as it is, still wouldn’t be enough. They were of the mindset that senators were underestimating the revenue lost due to closures, the lasting damage to the customer base and the recovery period. Other than the small business aspects of this bill the main disagreements were about big corporations, a $500 billion ‘slush fund’, and extended unemployment benefits, which the Cares Act chart below identifies. Here are some other details of the Law: The bill would expand eligibility for entities suffering economic harm due to COVID19 to access SBA’s Economic Injury Disaster Loans (EIDL), while also giving SBA more flexibility to process and disperse small dollar loans. During the covered period, individuals who operate under a sole proprietorship or as an independent contractor and eligible self-employed individuals shall be eligible to receive a covered loan. The bill would allow businesses that apply for an EIDL expedited access to capital through an Emergency Grant—an advance of $10,000 within three days to maintain payroll, provide paid sick leave, and to service other debt obligations. $10 billion would be provided to support the expanded EIDL program. The bill would require SBA to pay all principal, interest, and fees on all existing SBA loan products, including 7(a), Community Advantage, 504, and Microloan programs, for six months to provide relief to businesses negatively affected by COVID19. The cost of participation in the program would be reduced for both borrowers and lenders by providing fee waivers, an automatic deferment of payments for one year, and no prepayment penalties. There are several things I believe will happen in the short term for funders and ISOs in the alternative finance space. As you see now several funders have ceased operations temporarily but there will be a few that won't be able to recover due to not being properly capitalized. The larger players will be ok and those that have merchants processing accounts like Paypal or Shopify will further solidify there place in the market, even though revenues for millions of merchants will drop meaning offer amounts will be reduced. As many business loan brokers have been following closely and discussing what actions to take next, the shift in product offerings is what most have decided to be their focus. This is because most MCA funding companies are not funding or those that are funding have very strict underwriting guidelines and rightfully so. There are loan brokers who have experience with SBA loans, equipment financing, invoice factoring and other asset based loans. These companies are the ones primed to do well right now. Some brokers are also pushing credit repair and other ancillary services. Those with little to no experience are going to have to learn on the fly not just to offer these products but to beat the experienced broker in closing the deal. ISOs who struggle to cover operating costs will turn into smaller shops, at least for a period of months. They might have to make salary and commission adjustments or other benefits to reduce overhead until qualified deal flow picks back up. A statistic that is really striking is that the Median small business doesn’t have enough capital set aside to cover 27 days, per a report by JPMorgan Chase. That would include loan brokers and many of the businesses that are normally their clients. Those ISOs that make it through will rethink how they invest in lead generation, other marketing and sales efforts in order to reflect the current state of the market. Can an ISO depend on the same sources as before, or will they invest more in areas other than buying aged lists to cold call? Cold calling will always be available, at least for the foreseeable future, but with new robocalling laws and restrictions and 50 other brokers calling it's becoming harder and harder to reach the target audience via this channel. Funders have different obligations financially on the back end whether it be a line of credit from a big investment bank, hedge fund or other investors that have to be repaid. So if they aren’t funding much or at all then what will they do? They are already seeking arrangements for this downturn somewhat like merchants. For many of the companies there will be a reorganization of sorts. Funding companies of all sizes will rethink how many staff members they need for the remainder of the year or if they can move them around to fill multiple roles that they weren’t doing before. If they are ok with a small amount of deals in the short term they can sustain. However, they will look to other ways to generate submissions including onboarding new ISOs, new strategic partners and increasing their inside sales team or forming one if they don’t currently have one. I suspect by about August funders will be able to get back to more normal underwriting policies and pricing structures. Certainly they would still need prior years bank statements in addition to other documents and stipulations like site inspections for deals that wouldn’t typically require it. I haven’t even mentioned yet maybe the most important thing which is ongoing collections for current accounts. If a funder has too high a default or loss ratio they will have to further tighten requirements, not fund at all until fully recovered, fold their business or get bailed out. One other thing you might see are more mergers or acquisitions. There has been some consolidation in the last 6 months but this situation could lead to several more as companies look for opportunities to increase their books and market share. The way forward is different for each depending on your circumstances but determination and work ethic will help you get through this difficult time. Feel grateful if you and your family are healthy because many others don't have the same fortunate as the numbers of Covid19 infected and related deaths still increase. Our work is the way we make a living but our health is everything. Hopefully with this new law our industry can rise up to help businesses across America get the economic aid they need to battle their way back to an even more prosperous position than they were in prior. If we all do our part I have no doubt they will.

In the last few weeks many loan brokers were trying to stay up to the minute on the latest developments with the SBA Disaster loans but more so the new Paycheck Protection Program in order to assist their clients. Now we have more details and an application! The application for business owners is on the Treasury Departments site, link below. The SBA noted on its site April 3rd as the date for SBA approved lenders to start accepting applications. They included applications for Lenders who want to be part of this program who weren't an approved lender before. One notable details is the loans are at a .5% interest rate instead of the 4% floated around, and a maturity date of 2 years with 6 months payment deferment. The main question brokers wanted an answer to was how can they be a part of this with getting compensated in some form. Well good news, a broker can! However, its up to the lender to pay them and the amounts will differ depending on loan amount. Loan amount is 2.5x their average monthly payroll. Here is the fee schedule for Agents: Loans $350,000 and under: 1.00% Loans greater than $350,000 to $2 million: 0.50% Loans greater than $2 million: 0.25% And here is what the Treasury Departments guidelines say for lenders: "How will lenders be compensated? Processing fees will be based on the balance of the financing outstanding at the time of final disbursement: Loans $350,000 and under: 5.00% Loans greater than $350,000 to $2 million: 3.00% Loans greater than $2 million: 1.00% Lenders may not collect any fees from the applicant. So it seems the split % from the lender isn't typical but the amount of work a broker or any agent or representative will do is somewhat minimal. Therefore the program should be adequate to promote to existing clients where at the very minimum a broker is offering a service to help them through this troubling time. Many business owners will find the value in that plus if you are able to expedite this more than their own banker can, by having more than one option, then this could really be beneficial to them. Here some additional details on who can apply if you haven't read the releases. This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19. Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries. Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible. So go on and help out your clients! Link to U.S. DEPARTMENT OF THE TREASURY - Business Assistance Link to SBA - Paycheck Protection Program Link to S.3548 - CARES Act

Your relationship with your boss can have a big impact on your job satisfaction and career. Even if there seem to be some flaws in their management style or your personalities clash, you can still work together successfully if you learn the art of managing up. The more skillful you become at helping your boss to plan and organize activities, the more valuable you become to them. You’ll probably be happier and more productive at work as well. Take charge of your career and maximize your opportunities by learning how to manage up. Doing Your Job Well Managing up starts with paying attention to your own performance. If you consistently meet and exceed expectations, your boss will be more likely to value your feedback and trust you with greater responsibility. These strategies will help you shine: 1. Clarify priorities. Understand your boss’s priorities, so you’ll know where to devote your time and efforts. Start your day by blocking out time for your most urgent and important tasks. 2. Leverage your strengths. You’ll perform better if you make your strengths work for you. Try to structure your job so that your activities align with your natural capabilities. 3. Fulfill commitments. Deliver what you promise. Meet deadlines and complete projects, especially when your work affects what your boss and colleagues are trying to accomplish. 4. Continue learning. Acquiring new knowledge and skills shows your boss that you care about your work. Shadow another employee at the office or sign up for a training course. 5. Stay upbeat. A cheerful presence makes it easier to deal with workplace stress. Take a deep breath and smile. Look for the humor in challenging situations. 6. Add value. Evaluate your performance on a regular basis so you can track your accomplishments and share them with your boss. Set ambitious goals and find areas of your job where you can excel. Interacting with Your Boss Even if your boss plays favorites or lacks strong communication skills, there are many things you can do to build a healthier relationship. Try these techniques to bond and connect with your boss: 1. Adapt to their style. It’s up to you to adjust to your boss’s habits and preferences. Observe how they communicate with others and notice the differences between you. You may want to practice acting like them in minor ways until it feels more natural. 2. Be supportive. Remember that your boss is human and you’re on the same team. Empathize with the pressures they face. Focus on finding ways to make them look good and make their job easier. 3. Provide updates. Keep your boss informed about what you’re doing. Let them know when you’re making progress. If you need to report a setback, be prepared with at least one proposal for how to fix the issue. 4. Respect their time. Show your boss that you value their time. Write up an agenda before you meet with them and sent them a list of action items afterwards. 5. Anticipate their needs. Try to provide your boss with answers before they have to ask the question. Monitor the company calendar and their schedule to see what meetings and events they have coming up. Be proactive about collecting and creating relevant information and reports. 6. Socialize occasionally. While your primary focus needs to be on work, having fun together can enrich any business relationship. Attend office parties and outings. Chat about hobbies, vacations, and your families. Use managing up to help you develop a mutually beneficial relationship with your boss. Your work life will be less stressful, and your career will grow.