It is certainly not easy these days to get a loan for your business or company.
Even if the company is highly successful and would like to double its success, it may face problems while asking for a new loan.
Lenford Robins, the CEO of RRML Capital Resources, has spent nearly 35 years helping businesses avoid the struggle of loan denials. His company provides structured commercial loan services.
We had the opportunity to sit down with Lenford Robins himself to hear more about what his company is doing to help other businesses!
Lenford, how did you come up with the idea behind your own company?
Before starting my own business I was working for financial houses around Wall Street. I wanted to get a better understanding and experience of the financial markets before building my own company.
I wanted to find out how to help others who had a difficult time obtaining capital. That was the main reason behind starting RRML Capital Resources.
Let’s skip back a couple of years and think about the effects of the financial crisis in 2008.
Do you think it is harder to get capital today compared to the time before the crisis hit?
“Before 2008 it was really easy to get a bank loan.
What has happened since 2008 is while the process remains the same, there are a lot more regulations.”
What are the main difficulties an entrepreneur might face while trying to obtain a loan?
“It’s really difficult to get started, you really need someone to guide you. If you are looking for financing, it’s really important to go to someone who knows the market well, all the criteria and what you need to know.
The hardest struggle you will face is to get properly qualified for the loan you need. That’s where my company can help. RRML Capital Resources helps the entrepreneur to get qualified.”
RRML Capital Resources has a really large array of clients in commercial lending. What kind of companies are your customers?
“All kinds. We do loans for real-estate developers, retail, non-profits, businesses who are looking for expansion, schools, hotels and, for example, infrastructure developments.”
Launchpad USA is a program created by Amcham Finland to bring more Nordic companies to the U.S. market. What advice would you give to these companies that are in the very beginning of their journey?
“As a new company coming to the U.S. you need to get a better understanding of how your company would fit in the market. You need a proper structure for your company.
If you are looking to get loans you need someone to assist you and you need the right contacts for legal assistance. That’s my advice.”
Last but not least – what is your key piece of advice for success?
“The absolute truth is you can be anything you want. In the U.S. you have the opportunities and you also have the funding. But you need to be very focused, honest and work hard. Do not make promises you cannot deliver on.
If you follow these protocols you will be successful because you will develop trust. Your clients will not leave you. This is how I built my business: with trust, honesty, diligence and focus.”