The CEO of BFS Capital talks small business lending and how to go to market with a differentiated offering
Small business lending is going through some rapid changes right now. Tech companies like PayPal and Square are becoming huge players in the space and new entrants like Stripe, Shopify and Toast are looking to help finance their huge customer bases. The market is becoming more challenging for the first generation of alternative lenders to grow.
Our next guest on the Lend Academy Podcast is Mark Ruddock, the CEO of BFS Capital. Mark has been CEO for a little over a year and he is working hard to position BFS with a truly differentiated offering.
In this podcast you will learn:
What attracted Mark to BFS Capital.
Details of their lending products.
The geographic footprint for BFS.
The changes Mark has made in his first year as CEO.
Where BFS had room for improvement.
The changes that BFS has made in their underwriting.
The two fundamental metrics they look at for every customer.
Why Mark is bearish on the rise of banking as a service for credit.
Mark’s view of the Paypals and Shopifys of the world.
The kinds of partners BFS is considering to grow.
What is on tap for BFS in 2020.
This episode of the Lend Academy Podcast is sponsored by LendIt Fintech USA 2020, the world’s largest fintech event dedicated to lending and digital banking.
Download a PDF of the transcription of Podcast 230 – Mark Rudd