Jeff Williams with Commercial Fleet Financing

SUMMARY KEYWORDS

MD&M West, industrial innovation, financing, Jeff Williams, Commercial Fleet Financing, interest rates, working capital loans, equipment financing, business expansion, capital expenditure, customer service, repeat business, economic realities, manufacturing, strategic partner.

00:00

Hey, this episode of Industrial Talk is proudly brought to you by MD&M West and the incredible News and Brews team. MD&M West delivered big medtech, automation, packaging, plastics, and design all came together under one roof. The innovation, the energy, the conversation - it was everything that makes this industry extraordinary. I was on the floor capturing the stories, the breakthroughs, and the leaders who are shaping the future. Thanks for tuning in and celebrating the people driving industrial innovation. Industrial Talk powered by MD&M West and the News and Brews team.

00:47

Welcome to the Industrial Talk podcast with Scott Mackenzie. Scott is a passionate industry professional dedicated to transferring cutting-edge, industry-focused innovations and trends, while highlighting the men and women who keep the world moving, so put on your hard hat, grab your work boots, and let's go.

01:05

All right, once again, welcome to Windows Real Talk. Thank you very much for joining, and thank you for your continued support of this platform that celebrates industry professionals all around the world. You are bold, you are brave, you dare greatly, you innovate, you collaborate, you're solving problems each and every day. You are the heroes in this story. You must be celebrated. We are broadcasting once again MD&M West here in Anaheim, part of the News and Brews crew, and we are just having wonderful conversations. If you're not here, if you're not a part of this event, you need to put this one on your calendar. It is a must attend event. You get to meet great people like Jeff, who is in the hot seat right now, and we're going to be talking a lot of year. You're going to say to yourself, do I want to talk about financing? You do want to talk about financing, because it's important, because we need, we need money to flow to just, you know, be able to help you with your expansion. Let's get cracking. How are you doing?

02:01

I am doing fantastic, Scott.

02:03

I'm so

02:03

excited, man. I'm so excited, and, and you guys, do you have a booth?

02:08

No,

02:08

you're just wandering around, you're saying, 'Hey,

02:12

I'm wandering around, meeting new people, talking to different people, and all facets of the industry.

02:19

See, I'm gonna geek out on this conversation, so you're gonna have to sort of hold this tiger by the tail, because I guarantee, and I'm gonna be geeking out on this one. Before we get into it, are you having a good conference? Have you wandered around? Have you seen the tech? Have you, you know, tell us a little bit about your experience here at this event?

02:38

I'll tell you, it's been amazing, the things that I've seen and the things that I've learned thus far at MD&M West. This is my first time here, and I'm definitely coming back, because all the products that they have and all the robotics that they have, it's, it's truly amazing,

02:55

overwhelming, isn't

02:56

it? It is impossible to see everything.

02:59

Yes, it things are spinning around, and they're just having a grand old time. I just think it's an exciting time. The other exciting component associated with this is the speed at which change is taking place, the technology, the innovation. It just seems like a light switch. There's this demand, but we need more innovation, we need more expansion. We need more focus on that, that solving problems, because we're constantly pushing the envelope each and every day. It's, it's amazing.

03:30

Yeah,

03:31

say you can tell I'm all kidding with excitement, and I haven't been out of the salt mine. This is it. This is the salt mine I'm in. No, I want to go down this way anyway. Nevermind. Why would I complain to you, Jeff? I don't want to complain to you.

03:44

Well, it sounds like something that our founder, Matt Monero, says is you need more money, and I think everybody here could use more money.

03:54

Yes, yes. Give us a little background on Jeff, and then let's get into that more money thing.

03:58

So, I've been in the finance industry for just over 30 years

04:02

started when you were 31 No, no

04:05

one still in diapers. Yeah, for sure. And I've been with my current company for seven and a half years. It's a great place to be. They're very family oriented, so we, we have the opportunity to spend a lot of time with family, so there's a great work-life balance.

04:24

Let me ask you this, and we're going to get right into the financing soon. A past life, I took a company public, and I, of course, it was all wrapped around. We did a lot of capital expansion stuff, and so we always had, we were always demanding money, sticking in the ground, you know, whatever the rate of return associated with that, how are you seeing the financial business changing specifically in the world of manufacturing and industry? What demands? What do you see the market happening?

04:55

So, I'll tell you, the biggest thing that has turned has been interest rate. Coming down finally.

05:02

Yes,

05:02

yes, and that is prompting people to go out and spend money, and to build a business and expand their businesses, because it's not costing them near as much as it did two years ago. Two years ago, it was, you were paying a lot, I mean, it didn't matter, you

05:20

you couldn't. It would be hard to justify the expenditure, and then be able to cover the overall financial component and reprice your, your products to do that, to get, you know, whatever your hurdle rate would be, whatever it might be, it'd be tough

05:40

and be competitive in the market, and

05:41

be competitive, and it's.. I didn't really.. well, yeah, interest rates, that's a really important component. It

05:49

is, it is. And

05:51

do you.. do you see the.. do you see in the marketplace demand for capital increasing because I want to, let's say, reshore near shore, whatever. I want to expand my business. Does that impact interest rates? Because I need more capital, I need more money. But then you know, Acme over here wants more capital, more money, and they're doing the same thing. Is there.. is there a competitive advantage? Are you just seeing so it's busy out there.

06:23

Yes. And no, the bigger companies are always going to get better deals, obviously, because,

06:28

of course,

06:28

of their sheer size. The one thing I've seen that has increased over the last six eight months has been working capital loans, the short term, you know, six eight month

06:38

right

06:38

loan, where you somebody will come in and they'll just want $200,000 $250,000 for six months to stop gap, and then they pay it back, and if they choose to get another loan, then they can do that right after they pay off the first loan.

06:58

Take us through a little bit about commercial fleet financing, what makes you guys different than maybe some other institutions out there?

07:07

So, we're family-owned,

07:08

first

07:09

and foremost, that's huge. We are, we believe in customer service after the transaction. We've been in business for a little over 30 years, and we work very, very quickly, funding within 24 hours, a lot of times.

07:24

Wow.

07:24

And the biggest thing I would say is we have repeat business, probably 70% of our business is repeat and referral. We have 4.9 Google review with over 500 reviews. Same with Facebook, we're just, we pay attention to detail, and we know that people need their money, and they need it when they need

07:47

it, but I'm going to add to that, that's one thing to be able to have that money, but it's also to be able to have that financial partner in it alongside of you with that, correct, and to be able to have some insights into being able to properly capitalize whatever the, you know, strategy might be on my side,

08:06

that's correct, you know. Whenever you have an issue with your loan, you don't call the bank, you call me,

08:11

right?

08:12

And I take care of it, so you don't have to waste your day or spend your day dealing with something that you don't want to deal with or shouldn't be dealing with in the first place. I handle that for you.

08:22

Sources of capital, where do you guys draw upon the.. if I came to you and I'm saying I need, you know, I need money, so that's a great conversation.

08:32

We are.. we're a broker and we work with about 30 different lenders, so we have a program for just about everybody. It's just a matter of what you qualify for and how much you need,

08:42

and again, you take us through that, and you just sort of have that conversation. You're long, along for the ride. You're a partner, strategic partner, that is great. With all of that said, What are we talking about specifically about the market today? What do you see? How has it changed? You've been in the business for a long time, how has it changed?

09:03

Well,

09:03

that's a side conversation,

09:05

because I understand the interest rate, but there's got to be more to that.

09:11

So, yeah, I mean, with the finance aspect, it's an ever-changing industry, because we're, we're so bound by the Fed with changing rates, and

09:25

yeah,

09:25

people get in and out of business, and it's there's always, always constant change, that is the only thing that's constant in our industry is change,

09:36

but don't you think some of the, the economic realities out there is encouraging more capital expenditure. I want, I want to expand. I'm trying to, whatever the, whatever the, the economic landscape there, there is a push for greater demand. I want more demand. I want to expand. I've got data centers, I've got this stuff happening. We're just. There's a lot more popping that always that always smacks, as I need more money. Is it? Is it? Is it? It's got to change. It's happening. It's got to be.

10:12

Well, you know, we are an equipment finance and working capital loans, so you're getting a little bit outside of my spectrum, there you go. Yes. Okay,

10:22

so I now I got it. Now I understand. So you're, you're financing equipment. It's up to that individual, that company is saying, "Hey, I have to have this new line. This is the equipment. Here's the list of the equipment. Here's, here's, here's my strategic vision for this expansion, this equipment, and be able to ensure that whatever rate I have on that capital I can cover it, because I have a specific hurdle rate. I would do this all the time. Here's my cost, here's my hurdle, right? If I can get to that, then I'm all fine, and I can cover all of this stuff. So that, that's that's the conversation you always have.

11:00

So, yes, yes, and no,

11:03

but I'm sorry, I have to interrupt again. So, if you're in the world of equipment financing to protect yourself, you have to have that conversation. You have to understand that business model,

11:14

of course, and so we're a middleman, okay? As I said, we're broke, so we get it. We get a story, we get the information from the client, and then we pass it over to the credit department. Right

11:30

now, I get it. And as a broker, you a part of that service, that solution, that that nurturing, that journey, that Sherpa financial position, you definitely take that you have your brokerage fee, but it's all up to and and you're representing me, aren't you?

11:52

Absolutely,

11:52

you're saying yes. This is, we believe that this capital expenditure is good for you financial institution, and here are the reasons why we advocate you providing the funds.

12:05

That's exactly right, and I get that information from the client.

12:08

You have to,

12:08

yes, and I don't have to have a business plan, per se, but no. There is a conversation that's had, you know, how you're going to use this equipment. How is how is this going to increase productivity, or how is this going to affect your bottom line? How much? What percentage is your bottom line going to go up? Your net bottom line, not just gross, your net, and that way I can go to the lenders and say this is a good risk. This is, yes,

12:37

yeah, you've got a high level of confidence in knowing that, that whatever, because you, as the broker, as the relationship, you have that, and, and for me, me, Scott Mackenzie, who wants the money, who is expanding this service, or this line, you can also provide that consulting insight, and say, just one second, maybe it's going to be X, not Y, and you're able to sort of have that conversation and hone my strategic, you know, assumptions of this expansion.

13:09

That's exactly right, Scott. I'm the salesman for you. I go out and advocate for you to get you money.

13:15

Yeah,

13:15

that's exactly right. That was well

13:17

said. I'm sitting there trying to put it in my head and making sure that I touch all the points, because I believe personally I believe that companies need, and I just like anything else, they need to have that relationship with the source of money. Do I think banking is the way to go? I question it. I think it has to be more concierge.

13:44

You're right,

13:44

and I can come to con Jeff, and I'm going to say, Jeff, here's my dream,

13:51

and I help you with that dream. Yeah, I 100% help you with that dream, because the thing about commercial fleet financing is we want to help you reach maximum potential, and that's actually what the company was founded on, is helping people reach their maximum potential. Yeah, and we live by that. We talk about that. It's, it's on our wall in our office.

14:17

See, I love that. I'm just telling you, I love it. There is. I love

14:21

it.

14:22

Yes,

14:22

so as we, as we continue to ferret this out, as we continue to add to it, as we continue to just hone the message for Jeff, how do people get a hold of you? What's the best way for someone that's saying I like what Jeff is saying? How do I get a hold of them?

14:38

The best way to get a hold of me is via cell phone or email.

14:44

No kidding, really. Yes. Okay. Instead of putting it on the podcast, what I'll do, with your approval, I will make sure that it's out on industrial talk.

14:54

Fantastic, I appreciate that.

14:56

And advocate people getting a hold of you. Thank you very much, Scott. Because I'm a, I'm all about the pursuit of capital and being able for people to live their dreams. Why wouldn't they? Of course, you are amazing. I got all giddy about that. All right, his name is Jeff Williams. The company is Commercial Fleet Financing, and you can imagine what the URL is, so I don't use Commercial Fleet financing.com reach out to him. All the contact information for Jeff will be out on Industrial Talk, so fear not. We will have all his contact information once again. We're broadcasting from MD&M West News and Brews is the gang, and we're here to just highlight the incredible people, such as Jeff, on being able to solve problems, we're going to wrap it up on the aside. Stay tuned, we will be right back.

15:45

You're listening to the Industrial Talk Podcast Network,

15:56

as indicated. That was MD&M West, that was out in Anaheim, California. It's brought to you by those wonderful people, Edmond Pharma Markets. They do a fabulous job. You go out there, yeah, you're wandering around, you see all this incredible tack, the solutions, the individuals talking about well, solving your problems. Put this one on your calendar, because you get to meet great people like Jeff, Jeff Williams in the hot seat commercial fleet financing. I like to talk about financing. It is what keeps us moving forward, keeps the innovation, just keeps growing and solving problems. It's an amazing time. Reach out to him, his stat card is out on Industrial Talk, his LinkedIn stat card. I'll also include there's his business card to see on the video if you're out there. Also, have his email address out there, so that you can ensure that you do not miss out on connecting with Jeff, because he knows what he's talking about. All right, industrial talk is here for you. We are always here for you. We are always around and available to tell your story. Here's the reason why you need to succeed. We need to be able to tell that story, so that you can succeed. It is imperative, and it's a non-negotiable. Get that message out, tell that story, put a personal face to it. It is all here at Industrial Talk. All you got to do is go out to Industrial talk.com there, reach out to me, have a conversation. Let's tell your story. Manufacturing topic, we need help. We need more attention to manufacturing. We need people to get involved in manufacturing. That is, that is a story equation. Need more eyes, need more attention. Go out to Industrial talk.com Let's make it happen. Let's have a conversation. All right. Once again, MD&M West, that was the event. Put that one on your calendar, you will not be disappointed. It's.. it really is a symphony for the eyes. It is a lot of fun. All right, be bold, be brave, dare greatly hang out with Jeff, change the world. We're gonna have another great conversation coming from MD&M West shortly. So, stay tuned.