![]() Hurn said that they were one of the most active PPP lenders over the last two years, making approximately 300,000 loans. So, you know, that was probably the biggest challenge we had.”īut the work paid off. I mean I averaged about three to four hours of sleep a night for months at a time every day. “Pivoting our business solely to do PPP loans over the last two years was a pretty challenging experience,” said Hurn. Meanwhile, for Chris Hurn, Founder and CEO of Fountainhead, he had to refocus his non-bank small business lending company into a PPP loan operation. “As soon as their sales came back up and even grew to get through the 2021 boom, all the sudden collections happen faster.” Schapiro says that success was due in part to their technology, which collects a true daily percentage of a business’s sales.Īs the pandemic subsided “we didn’t have to get back on the phone with every merchant and say, ‘Hey, we want to increase our daily payment again’ because we’re not on daily payments, we’re on instant collections that are happening on a daily basis,” Schapiro explained. So if something’s not working, and you can obviously see it’s not working and it’s clear, you know, the job is to keep looking at it, and at the point where it becomes a clear message that it just doesn’t work, then you got to pivot.”įundomate is a white label funding and banking platform for wholesale processors and MCA funders to automate their funding in a scaled way. ![]() Anything worth having and anything worth doing requires consistency and determination. “But that’s the thing about life in general. “I always say that if I knew how long it would take us to get here and how hard it would be to be down this road, I’d never get on the road,” Schapiro said. That hard dose of advice led Schapiro to first question how bad he wanted it and he realized he was fully committed to seeing it through. ![]() “So if you don’t really really really want it, then don’t bother doing it, because your chances of success are so slim,” Schapiro was told. That mentor told him that despite what he thought, 99.9% of the people pitching their business at the show were going to fail regardless, even if they really wanted success. “…and barely anybody looked at us and I literally left with nothing.”įull of doubt, Schapiro had lunch with someone he respected that had built several successful startups. “I think one of the best lessons I learned when I launched Fundomate, I was in Las Vegas at a conference to raise money,” Schapiro said. Companies such as Fundomate, Fountainhead, and Business Lending Blueprint have been featured on this year’s list due to incredible growth.įor Sam Schapiro, the grit to grow Fundomate through a pandemic stemmed from a realization he came to years earlier. These 5,000 businesses span across a range of industries including health, financial, IT services and more. Inc recently dropped the latest annual list of the fastest growing small businesses in the country.
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