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Key Takeaways

today it's so competitive in the world that we're in from the internet and the ability to sell things across state lines or even other countries right from a computer like either you got to stay really small lean and mean or if you're gonna like you gotta scale fast to keep up with your competition because others are doing it what are some of the bad deals that you see people have made when they're coming to you what are the most common terms that they're screwing up on a lot of times people are scared to borrow money we've also been programmed from a young age that debt is bad and that's bad if you're going to borrow money and go on a vacation but if you're gonna borrow money and and take on debt to build something to invest um to get a return on that money then that can be an amazing thing there he is you what's happening man how you doing girl by Joe in the house I was looking up Joe and then realized oh it's grow by Joe gotta put that little extra in there I like it dude I like it I like it I guess your last name was in that comment right you have been telling names like what's what's your last name camberado you know so say that uh you know a million times fast I guess bro by Joe is easy to remember than Joe camberato that's exactly right that's why I did it was either that or Joe C which all my friends call me okay Joe C that could work too I like it cool well Joe is an expert in helping entrepreneurs raise money to grow their business and using some alternative methods that you may not have heard about or thought about well let's dive in man what are some of the opportunities that you see for entrepreneurs to raise money that that they don't see for themselves because raising money is one of the top questions I keep getting asked how do I raise money for my business I said okay let's ask Joe so what do you got for us you know I help people Access Capital so I'm not the money raised guy like you're looking to start something from zero but I'm the guy if you started up your business and you're doing some revenues you're in business six months a year two years um A bank's not an option you know even even today I mean companies in business for 10 plus years with great revenues banks are sometimes still not an option today which is crazy Banks want to do 20 million 50 million dollar 100 million dollar plus fundings they don't want to help the small and you know typical small business uh owner today so um my platform National Business capital I founded in in 2007 basically I created this cool platform that has really over 75 lenders on it now so whether you're looking for a line of credit for a Term Loan um for equipment financing we just need straight up working capital you can apply with me in one place and then we've got amazing technology which just speeds up the whole process but we've got great people here that you can have a real conversation with and ask questions and understand what those options are and then we match you to the right lender and all that happens really quickly um you know we can literally have you match in hours and funding and hours and days versus you know weeks and months at a bank and you know by following this process and it's not about getting approved it's about getting the right approval and finding the right lender but today that can be extremely fatiguing and exhausting you know there's so many lenders out there today um so by following this process and bringing all these lenders into one place we've secured over two billion dollars in funding billion guys with a beat with the big old B and that's over 25 000 transactions now that we've uh dude that's insane which is crazy it's just nuts like that's that's amazing I mean I remember when I first went I mean when I got my company started I went to a bank thinking Banks Banks are supposed to support entrepreneurs right and they walk in I walked in it's like hey have you been around for three years like no like okay can't help you man I was like okay do you have ridiculous profit you know do you have collateral if somebody's at like the early early early early stages the easiest thing is like go get some customers and have your customers help you fund to get started did or if you're raising an angel round with friends and family so if you're kind of like the next step up before somebody would go to a bank because they may not have three years historic financials what's the criteria what's the minimum number of of months to be in business what's a revenue size that's kind of your sweet spot that you're looking at for bringing people in yeah great question and we work with people like from all ranges right so um if you're in business for 10 years doing 20 million in Revenue we work with those customers but on the very the very minimum end we need uh six to 12 months in business um we're not focused on profit we're approach we're focused on your existing sales and what you're looking to use money for um so if you've got a like a minimum of 10 to 20 000 a month in sales um we could start working with you and get you started on something very small and then as you grow the difference is we're not just about the first funding we'll scale up very quickly so if you're doing you know 10 grand a month and then you're crushing it doing 20 then 50 000 a month hundred thousand dollars a month we can just keep you know um extending the amount of money that you have access to very quickly so helping somebody who's got a six-figure business get the capital they need to turn into seven eight nine figure businesses yep that's exactly that's exactly and we have customers that have been with us for 10 years that have done five to ten fundings with us and and they just keep growing they keep reinvesting in their business they buy other locations they buy more inventory if they're selling products you know whatever it is um you know we've we've had people just scale up with us which is you know really cool to see you know um it's awesome so before I started doing all this I mean I had my first company built that sold it and then I spent about two years as a venture capitalist uh as an intermediary so I was helping broker deals for people who wanted to raise VC funding and we were looking at like half a million at a minimum up to 15 million for people who wanted to grow expansion Capital not not startup um because it raising money becomes a full-time job oh yeah yep and then you're not focused on actually building your business so it's great to see you know someone like you now it's not I mean VC I guess could be an option people are trying to raise big bucks but also going to different lenders what are some of the biggest mistakes that you find entrepreneurs come in with whether it's their business planner how they present themselves that prevent them from getting a deal um you know I think um I think most people in general you know they're great at what they do they're great at you know their technician piece of whatever their business is um they don't really get money they don't get any of the guidelines um um so I think I think you've got to balance out all these things as you're growing your business you've got to understand the financials of your business um a lot of people when they first get started they don't have their financials together um they don't really know their numbers um and and it's understandable they're just they're in the beginning and they're getting rocking but you got to know your numbers you got to understand your financials um lenders want like are really focused especially when it comes to Alternative lending outside of a bank or focused on cash flow and seeing that you can manage money so sometimes when you're growing you get your eyes are off the ball and maybe your account's going negative or whatever so really managing that cash flow and doing whatever you can to help manage that cash flow to help you access money and you're going to need it when you're in the beginning you know um I started the company out of my bedroom and comp you know back in 07 I completely underestimated what it was going to cost you know to get started um and and you know and also um thought it was going to happen much faster so I think it's really important out of the gate that you understand these things um very quickly and if you don't you know reach out to a company like ours and just ask these questions and so you can prepare because you you're gonna need money at some point in order to keep growing in the scale fast today and to stay competitive you just need you need more Capital you have to keep reinvesting to get your company up to a certain point so when I was doing the VC business I mean the know your numbers was critical because people would come in and obviously it's projections right if you've only been around for a year you're trying to make a plan for where you're going to be in the next five years and you're trying to show growth uh but what we would do is look at you know you have a business plan and you look at the exact summary and then after the exact summary we just go right to the financials and see okay how are you going to grow and and the I was like the three main Partners were on their 60s or 70s I've done this for years and we look at we pick different numbers it picked different numbers off of the financial statements year three costs of goods sold like okay where'd you get that number from and if the entrepreneur didn't have a good answer then it really shows and they just picked some random number off of there it's like okay how did you come to that and you have yeah it's like oh I don't know I just thought about it and added 10 and here we are right and so there's a lot of that where like when you're going to raise money the financiers they really care about they care less about like the vision and mission of what what could be and care more about like actually the numbers and are you gonna be profitable and are they going to get a return on the investment they're putting into you so we would end up coaching them so that when they go and actually talk to the VC they would be prepared is that is that part like are you doing coaching as well and helping people get a better handle their numbers or you you need them to already be prepared coming in and you can pick a number and say okay where'd you get that from you better have a good answer ready for you we wind up doing a lot of unpaid you know coaching um and you know people come to us some have it together and we just you know move fast some come to us they're not ready and we'll absolutely tell them hey you didn't get approved because of this this and this do this um you know for the next 30 60 or 90 days and come back to us we'll be able to get it done and we fall back up with them we'll stay in touch with them so you know it's a combination of all but we're all about helping we ultimately listen we don't get paid unless we get them funding which is really great when you work with us we're so incentivized to help you get funding because that's how you know that's really how we get paid we don't charge any fees or anything like that um up front so we want to help you and explain to you you know you know what you need to get approved and more importantly why you're not getting improved and I think owners really appreciate that a lot of times most companies never give them the why they're not getting something and I think if they understand that it helps them go oh okay I get it and and then you know now they know what they need to do for going forward you know I can't get out of like content mode so this is such a good show idea for you where you have entrepreneurs come and Pitch you and open up their books and like you tell them what's wrong in a loving way not like in a in a Gordon Ramsay like you suck and you'll never make your way but in a loving way forward yeah to coach them because nobody's doing that and there's such a lack of information and it's so scary you know like people don't know what their options are the amount of bad deals that people sign is ridiculous with lenders where you're painting like crazy interest rates but also uh even with Angel Investors like people would come to us when I was in the VC business with a great business but because their cap table was so messed up because they're they're they had they brought on Angel Investors making it kind of non-lingo um they had Angel Investors take a big piece of their business like we couldn't give them the money because they don't we don't want to spend money no no new investment wants to come in and give money to buy out an old investor yeah you want to see the money go towards growing Abyss yeah yeah so we would get tons of those with like you they just made a really bad decision in the early stages of their business and now they're almost screwed for any other capris that they're trying to go after because they got taken advantage of in the early stages of their business so uh I mean I'm sure you've got tons of stories around that from your livingness every day we feel and that's what I was saying before it's not about getting approved it's about getting the right approval we'll see people come to us all the time they went to a not good broker or applied at the wrong lender and we're like oh my God if you would have just came to us we could have gotten you double the amount of money for half the cost for like two times longer to repay it so you would have had a lesser payment per month you would have got double the amount of money when you would have paid back a lot less in interest and got more money so you know that that's the whole reason why I started my platform you know I I prior to starting the company I just I had customers that were also self-employed um I was in the Residential Mortgage business and I saw how challenging it was for them to access business funding and I couldn't understand it so the reason why I created this place where all brought all these lenders together so I felt like you know owners shouldn't be able to you know should not be restricted in growing their business due to lack of capital the lack of the right capital um and started helping One customer at a time and they'd get turned down from their bank and then I'd find them the right lender and watch their businesses grow um you know so it's really important to find that right lender and and but not to get burnt out doing it you know that's why we created the platform is is it fair to say that you're basically a mortgage broker for entrepreneurs trying to raise money for their companies yeah we're like so we're like a rocket mortgage meets max.com right and and uh I think that's a great do you like that analogy I like it you know why you know I like that because you think even how I position at you wasn't is great because for the mortgage you don't really care what bank you're going to as long as you're getting a good deal but you don't want in a business you don't want to bring in the wrong lender or investment into your company yep yeah so I like the match.com bonus to it yeah it's very little bonus it's an added bonus so we're we're just matching the the right borrower to the right lender yeah and we're doing that very very uh very quickly I love that like if you thought about a grow by Joe show it's funny Steve and I have been talking about something so stay tuned on that we've got actually uh something that we're working on that we'll be sharing you know hopefully uh hopefully pretty soon that should be pretty interesting a lot of fun even just coaching entrepreneurs having to come in to show you their their financials and you do a seven minute thing with them and then break it down and you spend half an hour with them and maybe it ends up getting a deal from that person or maybe it's just education for other people but if people can see because you actually care you know like it's there's a lot of guys in the finance business it's just okay deal you're just a number next but you actually care about helping people want to grow and so seeing that heart is really rare in in financial services um so like if somebody comes on and pitches them pitches like that's what I if I was still not going to be sea days that that would be my I'd have a Daily Show I actually love the idea I think uh you got my wheel spinning out so maybe submit their financials and then you say what's wrong what's great what to fix and here's how you can get a deal and it'll lead to it'll lead to people caring and people want to work with you because they love like I had we had a guy make a deal with us just because one of the founders at the VC firm on his bio put that he worked at a charity like he was on the board of a charity yeah and when you're at the high level in BC these companies can go anywhere right it's like why would I go with you versus somebody else they have options because they have a great business right so they work with us just because one of the founders was on the board of advisory at a charity because nobody else actually didn't need community service inside the VC world and so having a show like that will make people say oh my God like this guy Joe actually cares I want to go with him that's cool no I love that and uh it could be a lot of fun and it's like you're killing a few you know birds with one stone there too just like a learning piece of it where others could uh you know learn and uh that could be a lot of fun I like it thank you do you want to do it let me know I know a guy who knows something about YouTube I'm gonna help then um I appreciate that good stuff so like I think a lot of entrepreneurs are just afraid of money they don't understand it as much especially the more Visionary entrepreneurs is it a case where once when when you say know your numbers uh is it that the entrepreneur needs to be doing a lot more research should they be bringing somebody on their team should they be having their CPA on their Advisory Board being a part of it somebody who like really struggles with that what's their solution well you you know I think um when I say know your numbers you know you got to really understand like what's happening in your business just understanding what's going on you also a lot of people I I always tell especially people in the beginning as they're getting going like where like where are you getting the best bang for your buck like where is your where are you making the most amount of money because a lot of times you're doing a number of things and you'll do things that maybe you love doing or just gravitate towards because you're comfortable with it or you just got all the stuff going on you don't even really know what is like what's what's driving you know 50 of your profit or 80 of your profit and sometimes as entrepreneurs you'll get caught up in these I call them squirrels and you'll run in different directions but like where is the real money coming from and once you identify that you know what's the profit margins around that a lot of times people are scared to borrow money because like oh my God I'm going to have a payment I'm going to have to pay interest we've also been programmed you know from a young age that debt is bad and that's bad if you're going to borrow money and go on a vacation I don't I don't really agree with that um in this new Millennial era but if you're gonna borrow money and and take on debt to build something to invest um to get a return on that money then that can be an amazing thing and it's a lot cheaper than Equity so you know when I say no your numbers like know where you're making a profit note that if you borrow money and you've got to pay you know 8 10 12 15 interest um that you know if you're if you've got a return on your capital of you know 20 30 40 50 60 um from whatever you're doing your business like know those numbers and it'll make it really clear that wow if I borrow this and do this I can bring in that much more money per month which would cover the payment plus I'd profit this and a lot of times people just don't necessarily know that math or they do know that they've they you know they know they need to borrow money to get to that next level but they don't really know exactly what they're going to make from it so it almost feels more daunting when they go through the process and then we have these conversations with them and help break it down and a lot of times when we break it down um with them they're almost like you know surprise and take it back and then they're like oh like a lot more comfortable with the decisions that they're making and almost gives them a lot more confidence in the decision that they're making so you know I think listen when you get started your business a lot of things are gut and feel and and that's probably what makes some of the most you know probably some of the most successful entrepreneurs by having a really good gut instincts but you got to put some pen to paper and get clear with your numbers and understand it um then you can take those gut instincts with some real facts and and be really way more confident in the decisions that you're making and confident to borrow money um and you know we say this all the time Evan a lot of times it'll actually cost you more money to not borrow money like if you've got an opportunity to grow your business there's a real Roi like you can do nothing and stay you know where you're at or if you borrow money you know it can bring your your company this level so it costs you more to to not borrow and take on that risk yeah especially expansion Capital which I guess is where you know you're focused mostly on right so yeah for not entrepreneurs like again when we're looking at raising money there's the r d phase at the very beginning where you don't even know if you've got something that might be something like you don't go to A lender asking for money on that because then you're putting up your house or some personal asset to make that happen that's if you need money that that's like government grants and programs and then there's a startup to make sure that it's like actually like let me get my first customers but then there's the there's the expansion in in the growth phase and you may be missing out on huge opportunities by not going faster because there's somebody else out there who's doing it uh and expansion capital is the easiest money to raise so to your point about opportunity like you could have if you're at a six figure business you know you cross 100 000 a year cool next year you're at 200 000 but maybe you should be at 2 million because you're able to take out some money and grow um do you you only focus on that correct or are you also doing equity no my main focus is debt I mean every once in a while we'll come across something unique and I'll share some stuff on my network for uh you know on the equity side but the company's main focus is is that and what are people looking at in terms of rates right now kind of ballpark or criteria what are what are the ranges that somebody's looking at if they're trying to bring on some debt equity yeah debt Equity yeah yeah no I get it and uh and just to respond back to what you just said too about going from 200 000 to 2 million and growing fast like I think today it's so competitive in the world that we're in and you know with the from the internet the ability to sell things across state lines or even other countries right from a computer like either you got to stay really small lean and mean or if you're gonna like you gotta scale fast to keep up with your competition because others are doing it um and it's it's competitive in all Industries out there um but to answer your question on on the the debt numbers so basically if you're going to do um like a bank a SBA type of deal um you're gonna look at like prime plus two to three percent um so right now that'll put you between like six and a half and seven to eight percent um if you are um gonna Finance equipment you're looking at anywhere from five to eight to ten percent um depending on uh Credit in a number of different things um if you're looking for um something that's secured by assets assets can be B2B receivables um real estate um or heavy machinery um you're at like prime plus two to three percent um and then if it's you know just purely on cash flow you're looking at like 9 10 12 um and then rates like in the mid teens um and then if it's if there's a lot of risk could even get higher than you know than that and then so what are some of the bad deals that you see people have made when they're coming to you and like oh I signed this deal what are they paying or what are the most common terms that they're screwing up on you know I'll see people work with a not good merchant cash advance lender and take a really short-term deal four to six months to repay it very high rates 20 30 percent um and where they were in a you know needed something fast and um you know and they just were at a lender that didn't have all the options you know what makes us so good at what we do is we've got over 75 lenders so we can work with prime credit down to not good credit and all those will be different lenders that will work with um and and even if you don't have great credit if you've got good cash flow you've got an opportunity we can look past that and still give you you know a really great deal um and sometimes we see these deals that come to us and they're really it's not like they were just in a situation where they were you know gonna they were supposed to get paid they've got the money coming in they the receivables you know you know didn't get paid when they're supposed to by one of their customers and they're in the middle of another project so they just laid out a ton of money expecting money to come in and they've got a one payroll on Friday um and they had to take a fast deal to plug a hole and you know maybe have the time um to look around but if they would have just came to us we could have given them that same deal um probably more money um you know two to three times the amount of time to repay it um and uh and and a realistic interest rate you know so you know we see those situations all the time and sometimes people just don't know you know they're not even in that situation they they've shopped around at a bank in a bank in a bank and they get to you know you know a broker that just doesn't have all the options uh like we do we've got 15 years of relationships and they just get fatigued they we call lender fatigue you know I mean you're in your business you apply one lender then another lender then a third lender and you've got to fill out an application again that are lengthy or ours is a one-pager some of these banks are like five pages in a story it's exhausting I mean who's got the time to do that you're still running your company you know so um you know so we see that lender fatigue will get you know well people will kind of just push people to take something because they're just they're sick of dealing with it people don't know that's why the watch the grow by Joe show let's go care and like how much you are trying to point an education and helping people uh people want to dive in your world learn more contact you like where's the best place for them to go yeah if you want to follow me uh follow me at grow by Joe um on YouTube on LinkedIn on Instagram and uh if you want to explore more speak with my team uh learn your you know you know see what uh fundings uh options you can get qualified for you can go to nationalbusinesscapital.com that's nationalbusinesscapital.com amazing thanks for the love man I'll talk to you soon all right back at you thank you Joe do you see my one-on-one with Grant Cardone check the video right there next to me I think you'll love it continue to believe I'll see you there true wealth cannot be created working it could only be created and best Elon Musk is completely invest he has no cash and no houses