IAM1871 – Fintech Founder Helps Entrepreneurs Access Competitive Financing Fast

Why it was selected for “CBNation Architects”:

In this episode of IAMCEO Podcast, Joe Camberato, the CEO and founder of National Business Capital, is featured. National Business Capital is a leading fintech marketplace that aids entrepreneurs in quickly gaining access to competitive financing via an intuitive online platform and a skilled team.

Joe, himself an entrepreneur, started National Business Capital to address the challenges business owners face in securing the necessary funding for growth. With a clear vision, determination, and passionate leadership, he has grown his company from a small operation started in his spare bedroom to a top workplace in Long Island, managing to achieve this feat without any private investments.

Previous Episode: https://iamceo.co/2022/08/31/iam1479-fintech-founder-helps-entrepreneurs-access-competitive-financing-fast/

Transcription:

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Joe Camberato Teaser 00:00

We've streamlined all the processes, digitalized the application process, secured a bank connection. We do all these great things. And by following these great processes, systems, technology, and more importantly, really great people here at the company, we've helped secure 2 billion dollars now in financing for all types of industries, all entrepreneurs all across the country, which is really amazing.

Intro 00:24

Do you want to learn effective ways to build relationships, generate sales, and grow your business from successful entrepreneurs, startups, and CEOs without listening to a long, long, long interview?

If so, you've come to the right place. Gresham Harkless values your time and is ready to share with you precisely the information you are in search of.

This is the IAMCEO podcast.

Gresham Harkless 00:51

Hello, hello, hello. This is Gresh from the IAMCEO podcast and I appreciate you listening to this episode. If you've been listening this year, you know that we hit 1600 episodes at the beginning of this year. We're doing something a little bit different where we're repurposing our favorite episodes around certain categories, topics, or as I like to call them business pillars that we think are going to be extremely impactful for CEOs, entrepreneurs, and business owners, or what I like to call the CB nation architects who are looking to level up their organizations.

This month, we are focused on leadership, management, and coaching. When we think of leadership management and coaching, we often think of doing all of the other things. But often it's a person that's able to build up their team, that's able to cultivate a creative and innovative culture so that people can excel and actually be their own leaders. So that's why this month we're focusing on those three big topics because they make a huge impact on the organizations that we're a part of.

Now you'll hear some of those topics this month. Of course, some really great perspectives on how people are even defining leadership, which I think is extremely exciting. So sit back and enjoy this special episode of the IAMCEO podcast.

Hello. Hello. Hello. This is Gresh from the IAMCEO podcast. I have a very special guest on the show today, I have Joe Camberato of National Business Capital. Joe, super excited to have you on the show.

Joe Camberato 02:11

Thanks for having me on Gresh. I appreciate being here.

Gresham Harkless 02:14

Yes, it should definitely be an awesome conversation. That's for sure. So before I jump into the interview, I want to read a little bit more about Joe so you can hear about some of the awesome things that he's working on.

Joe is the CEO and founder of National Business Capital, the leading Fintech marketplace, helping entrepreneurs across competitive financing fast through an easy-to-use online platform and experience team. Joe knows entrepreneurs because he is an entrepreneur. He started National Business Capital after realizing how challenging it is for business owners to access the funding they need to grow.

With a strong vision and determination and passionate leadership, Joe grew his firm from a small operation in his spare bedroom to a number one top workplace in Long Island – all without one dollar of private equity.

Joe, excited to have you on the show again my friend, are you ready to speak to the IAMCEO community?

Joe Camberato 03:01

Yes, I am looking forward to it.

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Gresham Harkless 03:03

Awesome. Let's get it started then. So to kick everything off, I wanted to rewind the clock a little bit, hear a little bit more on how you got started, what I like to call your CEO story.

Joe Camberato 03:11

Yeah. I was in the consumer mortgage business, and a lot of my customers that were self-employed, their business owners and I watched them all use their home equity credit lines or refinance their house to use that money for their businesses. A lot of them kept asking me for a business loan. I just didn't understand. I didn't understand it. And I would say, hey, it's not really what I do. You don't want it. You go to your bank and they would all tell me how frustrating it was to deal with their bank. I had a real interest in moving to the commercial side of the business and really wanted to work with business owners.

One of those owners was like, hey, you got all these relationships, can't you go to one of your banks and maybe point me in the right direction? So, it was a local restaurant owner. They had a catering facility. They wanted to open up another one great business. So I brought it to a bank that had a commercial division. And I got this great deal, local customer restaurant, catering facility, want to open up another one. And they laughed at me. They said, we'll never fund the restaurant. So, I said, oh, okay can you point me in the right direction? So they pointed me this private lender or sent me to another private lender.

Ultimately, I wound up finding a lender that would finance them. I got them the money that they needed and I watched them grow their business and it truly fascinated me. Right there in that moment, I said, wow, this is what I want to do. I want to work with business owners. I want to help them access capital. I found this whole world of private lending that really no one knew really existed. This was back in 05-06. I founded in 2007, so it'll be 15 years this December, but, in 05, 06, a lot of these lenders didn't even have websites. It was just fax machine then, which is just funny to even say now.

It was very hard to find a lender outside of your local or national bank, and there were all these different lenders out there. Some of them were large institutions. Some of them were publicly traded. And unless your advisors, like an attorney or accountant had these type of relationships, they may have websites at the time, you couldn't find them. And I said, you know what, I'm going to bring all these people together and I'm going to learn what their processes are. I'm going to learn what industries they love and I'm going to be the business consultant that helps you get money for your business.

So I did that in my spare bedroom. It was just literally one customer at a time. And then I really realized that I was on to something here and I just saw that every owner had the same challenge. You go to your bank. And two things happen. They do something with you. Then you outgrow them if you're going fast. And if you have enough collateral like real state really quality B2B receivables, the banks just don't want to work with you or they can't grow fast enough. Even today, banks want to work with big, big institutions and private equities gone further upstream.

So when I really understood this, I just started bringing them everything together in one place. Then fast forward, I got out of my spare bedroom, I got initially a small office, shared some space. Hired one person, then another person and then moved to where we are today. We've utilized technology. We became a full tank platform. Think rocket mortgage for small business lending and we've got over 75 lenders in the platform, now. We've streamlined all the processes, digitalized the application process, secured bank connection. We do all these great things.

By following these great processes, systems, technology, and more importantly, really great people here at the company, we've helped secure $2 billion now in financing for all types of industries, all entrepreneurs all across the country, which is really amazing.

Gresham Harkless 06:38

Yeah, absolutely. I definitely appreciate you obviously for working out of the bedroom and continue to grow that business. But truly what kind of resonated with me, very much is the story you told and being able to grow that restaurant that you talked about. When you rattle out that 2 billion dollars, if you just think about the impact to how many restaurants, how many other small businesses, it starts to really become something that we're creating not just opportunity for resources, the capital that people need, but also for impacting lives and impacting the lives of the families and so on and so forth.

So I appreciate you for being able to do that, and of course, being able to tell that story.

Joe Camberato 07:13

Yeah. You hit the nail on the head Gresham. I appreciate you saying that, realizing that makes me feel good. And it's something that we've been talking about with just in general, really, especially in the recent, two, three years.

Gresham Harkless 07:25

Awesome. Awesome. Awesome. So I know we touched on a little bit, but I wanted to drill down a little bit more and hear how you're serving clients , how it all works. Can you take us through a little bit more about that?

Joe Camberato 07:34

Yeah, so, there's, there's no 1 size fits all lender out there for your business. You can take 2 different businesses in the same industry, even a franchise let's say you own a Subway franchise. Or McDonald's or whatever. Those 2 owners may have different things that they want to do. One may want to buy another location. One may just need a credit line because they want to spruce up their current location or one may need to buy equipment. So all of those things, one would be maybe an SBA loan. One, maybe be a line of credit. One would be an equipment loan. So, all the needs of every owner are really different. So it's very hard. If you go to one lender, they may approve you, but it may not be the best approval that's out there.

So we bring all these great business focus lenders together. We do everything from SBA loans to terminals, the line of credit to equipment financing into inventory loans. So, all those are in one simple place. So, basically, if you were looking for financing, you can apply on the website. We can call and reach out to the team, whether you apply or call us we have a quick conversation with you and when people need money, they need it for two reasons. They've got an opportunity in their business or a challenge. Sometimes. The challenge is a temporary challenge because there's so much opportunity happening. Like you're growing so fast, your cash flow is not keeping up and you've got to fill those gaps.

So we have a very simple, quick discovery call with you, understand what's going on in the biz or what you're looking to use money for and then from there, we'll very simply tell you, hey, based on this very easy conversation that you would know about your own business, an SBA loan may make sense, or this makes sense for a revolving line of credit. Or, hey, if you're buying equipment, we can finance it over 5 years, low rates and you can still utilize depreciation.

So we have these really cool conversations. Then based on the need, we explain what you'll probably match for. Then we'll tell you, you're going to need these financial docs, everything that you'll need.

Gresham Harkless 09:34

Yeah, that's so huge. And I almost wonder if the thing that is your secret sauce is like that technology and also that awareness of all the different products and different options and the different ways that people can learn and understand and manage their money and the finances so that they can at the end of the day succeed.

Do you feel like that kind of sets you apart and makes you unique?

Joe Camberato 09:53

It is, that really is a big secret sauce of ours is people and knowledge. We have an amazing group of people. We have over 70 people in turning internally, and then we have a number of people externally. We've created what's called the National Business Academy and we teach all the lender guidelines and products, but more importantly, we teach understanding business.

Gresham Harkless 10:18

Yeah, absolutely. It makes so much sense. And you almost think about it as business being a language, so to speak. Once you start to understand the language, not only does it help you, like you said, to make sure that you're able to raise the best options, the best products, but also helps you on an even deeper level, have that conversation with the people that are actually looking for that expertise and that knowledge. So I absolutely appreciate that.

I wanted to switch gears a little bit and ask you for what I call a CEO hack. So this could be like an app, a book or a habit that you have, but what's something that makes you more effective and efficient?

Joe Camberato 10:49

It's a good one. There are a few different things that I do. A few hacks. I can give you one. I think mindset is really everything. You got to get yourself into the right mindset. So, always move in working out exercise, meditation, and then more importantly, some thinking time to think about what I've got going on. Also think about what I've accomplished because we beat ourselves up constantly to keep getting to the next thing.

So measuring backwards has really been helping me. And especially lately, as we move through COVID there are so many things that you're constantly accomplishing and you're always on to the next one to the next. But if you don't appreciate what you've accomplished, you can get deflated and burn yourself out. And then just, my relationships and network is really everything. Having amazing relationships has really helped me a lot in business and all types of relationships.

I'm part of a group called YPO. It's Young Presidents Organization. I think it's really powerful getting yourself around other business owners and leaders. That's been a big, big part of my success. Folks that are much, bigger and better than me. And the next thing you grow into that, so, that's been a really great hack for me as well too.

Gresham Harkless 11:54

Yeah, that makes so much sense. Now you might have already touched on this, but I wanted to ask you for a CEO nugget. So it's a little bit more word of wisdom or piece of advice. I like to say you might tell your favorite client, or if you were to hop into a time machine, you might tell your younger business.

Joe Camberato 12:08

So, you know, culture has been everything in my business. We've built an amazing culture. We've been number one top workplace on Long Island because of it 3 years in a row. The last 3 years, we've got in for the 4th year right now. I think, what I would tell my younger self is all good things just take time. Patience is key. When I got started, I thought so many things were going to come together so much faster. The reality is I've been at this, it'll be 15 years this December.

Things really didn't come together for me to about year 7. And things are just constantly changing. You think when you get to this certain point that it's all going to like work out or whatever. And it's just a constant change. Just continue to keep changing, and growing but I really measure things now in 5 year clips. What can I do in these next 5 years? Because you can only do so much in a year. It's just reality.

Gresham Harkless 12:58

Yeah, I love that and I always try to remind myself and as we talked about the driven people is that, the secret to the overnight successes. Absolutely appreciate that.

Now I want to ask you my absolute favorite question, which is the definition of what it means to be a CEO. Were hoping to have different quote and quote CEOs on this show. So Joe, what does being a CEO mean to you?

Joe Camberato 13:15

Being a CEO to me means being a good leader. And just I'm like committed to learning and growing and more importantly now helping others learn and grow, I started this whole grow by Joe thing, which is a big initiative of mine and it's really helping our customers grow, but it's also helping my staff and my team grow. I need to be constantly learning and growing as well. So I think it's a big responsibility to be a CEO.

More importantly, it's not just about me. It's about the customers we're serving. It's about the team that's here helping serve those customers. That's why I think we have the great culture and amazing place that we do. Because I don't just say these things, I actually do them.

Gresham Harkless 14:02

Yeah, that makes so much sense. I love how you talked about the leadership and how that manifests itself in so many different ways. Well, Joe truly appreciate you for taking time out, appreciate all the awesome things you're doing.

What I want to do now is pass you the mic, so to speak, just see if there's anything additional that you can let our readers and listeners know. And of course, how best people can get ahold of you find about all the awesome things you and your team are working on.

Joe Camberato 14:21

The most important thing that I think I do is being prepared and anticipating where things are going. Anticipation is probably one of the biggest keys to success in business. So, you got to make sure that you got your capital, right? Because the guy with the most money in a downturn and recession will be the business that wins. You can go right to nationalbusinesscapital.com.

If you want to follow me you can check me out on GrowbyJoe, check out my YouTube. I've got hundreds of videos on there. Follow me on LinkedIn. I'm on Instagram. I put a lot of content out all about the different financing options, but also about just things that I'm actually doing here in my own business that have helped me be successful. So if I can help you be successful and grow better and smarter. That's my goal.

Gresham Harkless 15:07

Awesome. Awesome. Awesome. To make it even easier Joe, we'll have the links and information in the show notes as well, too, so that everybody can get a hold of all the awesome things you're doing, and of course be able to contact your team.

So, truly appreciate you for doing that, my friend, and of course, appreciate your time. I hope you have a phenomenal rest of the day.

Joe Camberato 15:22

Thank you, Gresh. Thanks for having me. And listen, thanks for everything that you're doing, pulling all these great people together on your podcast and helping dropping all these clues around, for everyone it's really great.

I appreciate it.

Outro 15:32

Thank you for listening to the IAMCEO podcast powered by CB Nation and Blue 16 Media. Tune in next time and visit us at iamceo.co. IAMCEO is not just a phrase, it's a community. Be sure to follow us on social media and subscribe to our podcast on Apple Podcast, Spotify, Google podcast, and everywhere you listen to podcasts, subscribe and leave us a five-star rating.

This has been the IAMCEO podcast with Gresham Harless, Jr. Thank you for listening.

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