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I decided this was a great opportunity. With interest rates being at an
all-time low, there was and still is a large demand for credit. While several
financial institutions did lose their appetite for lending, many other banks
were gaining market share by providing new clients with credit.
In every aspect of life there are banks willing to lend and if you provide
them with the proper information you can create good relationships with
large banks. Right now, we work with eight of the ten largest banks in the
U.S. as partners.
Our main goal is to help people who have assets, who are wealthy and
who don’t have the time to shop five or six banks for their credit needs
and for the best solution. We would like to do it for them.
Currently, we have three strategically located offices that we’re
concentrating on. We have twenty-two senior lending specialists working
together. We’ll eventually come to the point that we’ll become so large we
might actually become a bank. That’s our goal. As the majority owner of
RosEvro Bank in Russia, I don’t see a problem one day either acquiring a
bank or growing to become one.
How does a new business such as yours overcome the reluctance of a
potential customer to give their business to an entity they may be completely
unfamiliar with?
Our platform is to work with several banks, so when a person with a
net worth (say) of $25 million picks up the phone and says, “I need a
five-million-dollar loan against my home,” they only have to pick up the
phone once. Then, our employees do the rest. We analyze their balance
sheet and give them three or four options that best fits their situation.
30
winter
|
spr ing
Basically, we’re doing all the work
so you don’t waste your valuable
time getting on the phone, being
rejected by the banks and picking
up the phone and calling another
bank.
I’m pretty sure people will
realize that at this point we’re not
a bank; we’re not a lender; we’re a
service. Eventually, if successful,
we will grow into a bank.
I’m in the middle of re-financing
my own mortgage. Is that
something I should have called you
about?
You should have called us
yesterday already.
• • •
No doubt, Sergey, Anna, Arina,
and the extended family will
spend many happy hours in and
around El Fureidis. No doubt too
that this ambitious man will keep
his eyes open for other “once-in-
a-lifetime” opportunities and will
probably find one. Perhaps even
in Montecito.
M