Q&A with Our CEO Eddie DeAngelis: Part 1

With cut-throat competition in every field of business today, entrepreneurs and established companies alike are seeking more capital to fuel growth or manage cash flow challenges. The quick and easy availability of financing can make the difference between smooth sailing and a frustrating dead end for your business.

While traditional banks and lenders often impose rigid requirements and lengthy approval processes, specialized financing companies such as QualiFi fill critical gaps in the market, offering everything from equipment financing and commercial mortgages to PO funding solutions.

Needless to say, not all lenders are created equal. We at QualiFi have built a reputation for not only securing diverse funding solutions for our clients, but also for maintaining a customer-centric approach that prioritizes transparency, speed, and long-term business relationships over transactional ones.

I sat down with our CEO Eddie DeAngelis to pick his brains on the state of the financing industry, existential questions for small businesses, and of course what separates exceptional financing partners from the rest of the pack. We had a long conversation, of which here’s the first part…

1. What does the current company financing scene look like? Are business loans easily available?

You bet! We have several options available for our clients across 10+ financing solutions for business owners seeking or needing financing. The economy is doing well right now and lenders are competing for higher market share in most industries. This in turn delivers more favorable terms and rates for our clients.

I’d love to correct your question a bit, though. It’s not whether a loan is easily available or not—it’s how much the business really needs and how easily they can get it.

2. Recently, you outlined the benefits of approaching companies such as QualiFi over going to lenders directly for business loans. The reasons are all valid and solid, but why should a firm trust YOU as opposed to a well-known organization such as a bank?

That’s a simple one—we’ve proven ourselves as a trustworthy financing company with a spotless reputation for putting our clients’ best interest at heart. This comes from our philosophy: You can never go wrong by doing what’s right for your clients and striving to get them the best deal!

Of course that doesn’t mean companies can’t trust their local banks. The problem is, banks are declining more than 80% of loan applications these days. This means they’re not there for business owners when they need them the most!

Why? The requirements to secure conventional bank financing can be extremely challenging for the average business owner. For example, lenders look for profitability every year over the past 3 years on business tax returns, a 700+ personal credit score for the owner, a specific data income ratio, and two years minimum time in business just for starters. This is too much to ask of someone simply trying to get a business going.

What do we do instead? Well, basically all the hard work and the smart work. We build a loan application file that’s exactly what the bank wants to see.

3. How do you help clients choose between different types of loans—lines of credit, term loans, asset-based loans, etc?

This is driven by our clients’ needs, depending how much money they are looking for and what they’re going to use the funds for specifically. This helps us determine which loan product is the best fit for them.

Some clients may require a much longer payback time, like 10 years. Others are able to pay it back and move on in 6 months flat. Yet others simply need to utilize a quick-and-easy line of credit to bridge 30 60 90 days of receivables.

4. Can you share a story of a client whose business was transformed through the right financing? Something you’re personally proud of?

Oh wow—we have so many of these, over a hundred I think! Each and every one of them is important to me. In fact, I make it a point to share clients’ success stories on my personal social media profiles too!

And what makes me beam with pride is, each and every member of our team here at QualiFi shares my philosophy, and takes great pride in getting the best deal for our clients.

That’s precisely why our clients keep coming back to us for more.

5. How should business owners think about taking on debt? Is all debt good, whether or not you have a great cash flow or enough in the bank?

Owners need to be smart about the debt they are securing, no two ways about it. We like to call this “responsible borrowing” or making sure the funds you’re taking are truly going to put your company in a better position.

I ask my clients pointedly: What will you specifically use the funds for? Cash flow? For how long? Production? How much? Buying new equipment? What exactly?

The simple rule of thumb is, if it makes good business sense, go for it.

6. What trends are you seeing in business financing approval rates and requirements?

The market is good right now. The economy seems to be flourishing and lenders are fighting for market share. Seeing terms go out longer, multi-year, and affordable lines of credit up to $1 million with no collateral. So it all boils down to what is the best option for this business at this particular time really.

7. How has technology changed the way businesses can access capital today?

With the advances in tech and AI, we’ve been able to develop much better systems and quicker workflows, and streamline the processes for applying to multiple banks and lenders. We’ve also been able to help reduce the decision-making time on our clients’ applications—in many cases, it’s possible to fully underwrite a business and have funding in your account the very same day.

8. What’s your vision for QualiFi over the next 5 years? How do you plan to serve more business owners, help them get financing on better terms, and so on?

QualiFi has big plans to continue expanding our blueprint all over the United States, and reaching more and more business owners that need our help. Each year from now, we plan to double our team.

However, we started out small… just like the businesses we help, so our singular aim is to keep spreading the love one business owner at a time. We’re die-hard believers of the American Dream!

Part of our confidence comes from knowing that there is a financing solution out there for every business; we only have to strive to make ourselves resourceful enough to find that one best solution for each client.

That’s a wrap for now. If you’ve enjoyed these insightful tidbits of wisdom from Eddie, there’s more in store. Watch this space for the rest of the conversation!

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