Los Angeles-based Business Development Officer, David Eden, has been working with his business client base for over seven years to provide them with working capital solutions.
Now, he’s joined forces with Liquid Capital to offer even further products to his solution mix. Learn more about the advantages he’s found while developing his own business along with his approach to working with customers and other financial services professionals.
What’s the difference between your BDO job & this new venture?
“The difference is, I don’t own my own business, so I’m not a direct lender. So this is going to give me more availability to service my clients. Plus, Liquid Capital has the back office already built in, so it was absolutely turn-key for me to take my experience, with their products and solutions, and just combine the two.”
Was this a big change from solely working in business development?
“My core focus, similar to Liquid Capital’s core focus, is helping small and medium-sized businesses – first and foremost. Liquid Capital offers factoring, asset-based lending, purchase order financing – so essentially, being able to have a wide variety of offerings, products and services to help our business owners. The reality of it is, if a business owner can’t get funding from a bank, they can get funding from Liquid Capital.”
Tell us about your experience getting started with Liquid Capital.
“The training program was very comprehensive and detailed. For somebody like me who has a lot of experience already selling these products, they hit every bullet point. It’s nice to get the basics and go over some of the fundamentals. It’s very thorough, very in-depth – you’re going to definitely leave informed and ready to go.”
Are there other products that you work with?
“With small and medium-sized businesses in my territory, I’m often seeing manufacturing companies who need additional working capital. So often times a large order will come into this manufacturing company and they don’t have enough capital on hand to fulfill that order. One of the products I offer is Purchase Order Financing, which basically allows them to buy materials from the supplier, which then gives them the opportunity to manufacture their product and sell to their customer, without having to lose business.”
What’s your approach to working with other financial industry professionals?
“In this industry, a large variety of your business comes from referral sources – banks, accountants, other financial advisors – their clients, small and medium-sized businesses go to, to get financial advice.
“Being able to go to my referral network and let them know that now that I’ve taken what I’ve been doing for seven years and aligned myself as a direct lending source – (combined with) the back office, infrastructure, products and services that I can offer – well naturally my referral sources are going to be happy that I’m a one-stop-shop solution for them and their clients when they need cash.”