in each issue, this new
column will ask four
what is the one thing
keeping them up at night
right now…and how do
they plan to assuage
this worry? if you are
interested in participating,
please contact Michele
what Keeps you up AT nIgh T?
senior managing director and
head of Healthcare Finance,
Wells Fargo Capital Finance
Enoble Business Capital (formerly NBT)
CFAE, director of credit and
underwriting, RMP Capital Corp.
North Mill Capital
In 2014, we witnessed spreads compress,
structures loosen and a noticeable increase in the acceptance of ABL structures
amongst healthcare providers, especially amongst larger, more established
companies. Whether these trends were
influenced by, or simply coincided with,
the emergence of many banks entering
the healthcare ABL market is debatable.
However, there is concern that many of
the newer, inexperienced entrants do
not appreciate the nuances or implicit
risks associated with lending to the sector, instead offering terms and pricing
more in line with general C&I ABL. Too
much of the latter is not only improper
risk/reward balance but will likely lead
to market shakeups and exits later.
What keeps me up at night is not credit, sales or clients. The
biggest concerns I have in our business are the ones most
growing businesses experience. I worry about having enough
of the right people. I worry about our people being able to
learn and grow. How do we get team members to journey
from being a doer to administrator to manager to leader?
How do we keep our company culture intact as we grow? How
do we attract the people we need rather than those who are
just available? How do we get leaders into our company?
Working for an entrepreneurial factor,
I am constantly trying to balance time
between required tasks, strategic endeavors, and, most importantly, my employees. I create development plans that
improve employees professionally and
work hard to delegate responsibility so
that employees can take on more responsibility. Taking care to develop the right
mix of internal training, job shadowing,
reading assignments, and professional
training takes time; however, in the
end, it results in inspired and engaged
employees ready to move to the next
level. While dedicating the time may
keep me up at night, it is time well spent.
Living in the “city that never sleeps”
doesn’t make it easy to get a good
night’s rest. The same can be said
for leading business development
in the New York market. What keeps
me up at night is a simple question:
Do I have the right level of exposure?
This is a dynamic and fast-paced
market that requires constant attention to my target audience. It’s
monumental for our message to be
delivered accurately. Our niche is
lending to businesses during periods
of volatility, including significant
growth or economic downturn. It’s
critical that traditional banks and
intermediaries are familiar with
our product offering as a solution
to their clients. As a young professional in this industry, it’s sometimes
challenging to build relationships
with key individuals at these firms.
It’s wearisome to think there are
companies who fit our criteria but
the connection is not being made.
However, that’s what motivates
me to get up in the morning and
continue making smart connections.