Developing digitally-focused equipment financing with Elevex Capital's Jeffery Elliott
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Johnnie Martinez: On today's episode of the Dig,
I am joined by Jeffrey Elliott,
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Johnnie Martinez: founder and CEO of Elevate Capital,
and I'll let him introduce himself and go
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Johnnie Martinez: into his background a bit.
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Jeffry Elliott: Thanks Johnny.
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Jeffry Elliott: Jeff Elliott here. Yeah.
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Jeffry Elliott: Founder and CEO of Elbex Capital.
You know,
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Jeffry Elliott: we are a independent finance company
focused on small business.
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Jeffry Elliott: All the way up to large corporations and
governments, local and federal.
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Jeffry Elliott: We are journalists in equipment finance
focused again on underserved markets, so.
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Jeffry Elliott: Most companies that are challenged these
days with banks pulling back in the
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Jeffry Elliott: market.
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Jeffry Elliott: Place and looking for equipment financing.
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Jeffry Elliott: Especially true lease financing.
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Jeffry Elliott: We're a good source of of funding for
that.
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Jeffry Elliott: You know our markets.
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Jeffry Elliott: Are.
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Jeffry Elliott: All different types,
a lot of underserved markets,
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Jeffry Elliott: energy markets, oil and gas, renewables,
agriculture, transportation industries,
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Jeffry Elliott: corporate aviation, marine rail.
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Jeffry Elliott: But generally anything a business or
government can use,
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Jeffry Elliott: we'll look at financing and we think
there's a big marketplace available right
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Jeffry Elliott: now.
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Jeffry Elliott: With.
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Jeffry Elliott: Different things going on in the economy
and the changes in in banking and focus
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Jeffry Elliott: on.
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Jeffry Elliott: Primary bank customers and lack of
transactional funding capabilities.
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Jeffry Elliott: Independents seem to be rising and and
we're hoping to really take advantage of
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Jeffry Elliott: that and and help our customers out.
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Jeffry Elliott: We're also very digitally focused.
So we're we're trying to implement the
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Jeffry Elliott: latest and greatest technologies to
create a more fast,
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Jeffry Elliott: flexible and transparent process.
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Jeffry Elliott: Enable transactions to happen digitally.
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Jeffry Elliott: Utilize artificial intelligence.
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Jeffry Elliott: Intelligence to to work with our
customers in in ways they want to be
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Jeffry Elliott: worked with.
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Jeffry Elliott: We also pick up the phone and talk to
people and go visit people just old
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Jeffry Elliott: school way.
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Jeffry Elliott: But we're utilizing technology where
customers want to utilize it and making
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Jeffry Elliott: the process better,
taking friction out of the equipment
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Jeffry Elliott: finance process.
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Jeffry Elliott: So those are some of the things that
we're focused on at at elevex.
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Johnnie Martinez: Actually no.
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Johnnie Martinez: That all sounds great,
and I that was one of the things I picked
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Johnnie Martinez: up when I was first reaching out is,
you know,
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Johnnie Martinez: beyond your experience in the industry as
well as the the innovation side of it,
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Johnnie Martinez: the technology side of it,
the things you guys are working.
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Johnnie Martinez: On to sort of bridge that work on that
gap,
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Johnnie Martinez: especially in today where we spent so
much of last year especially talking
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Johnnie Martinez: about artificial intelligence and what it
can be and what it can do.
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Johnnie Martinez: But translating into something usable for
the equipment finance industry.
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Johnnie Martinez: What has that process?
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Johnnie Martinez: Been like for you?
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Johnnie Martinez: You guys,
especially over these first few months as
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Johnnie Martinez: you've been getting going.
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Jeffry Elliott: Really exciting.
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Jeffry Elliott: We're we're not all the way where we want
to be yet,
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Jeffry Elliott: but we're we're implementing things,
you know.
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Jeffry Elliott: Like this meeting here?
I've I've probably got a a.
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Jeffry Elliott: A agent taking notes for me.
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Jeffry Elliott: So I can review the the call.
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Jeffry Elliott: We're implementing AI on our website.
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Jeffry Elliott: We get, you know, as a new business,
we're getting a lot of inbound inquiries,
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Jeffry Elliott: right.
And the AI agent will talk to the
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Jeffry Elliott: customers and and it's not out there yet,
but it will be out there soon to.
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Jeffry Elliott: Really. Get them.
Get more information for us to respond to
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Johnnie Martinez: Oh.
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Jeffry Elliott: them. Now we will call them back.
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Jeffry Elliott: It's not that you're gonna deal with a
computer,
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Jeffry Elliott: but you're you at least can get the right
information in to us so that we can start
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Jeffry Elliott: out way ahead of the game and get back to
you with what you're looking for and and
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Jeffry Elliott: who's the best person to.
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Jeffry Elliott: Talk to you. Right. Not, you know,
most people want.
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Jeffry Elliott: They see me out as the face of the
organization.
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Jeffry Elliott: Well,
it's hard for me to call every single
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Jeffry Elliott: person back if someone's got a specific
need.
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Jeffry Elliott: Need and then I called him back and then
I can bring the right person in to focus
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Jeffry Elliott: on it.
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Jeffry Elliott: AI can help me do that faster and I can
get back to you quicker with the right
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Jeffry Elliott: information.
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Jeffry Elliott: So those are those are kind of cool
things.
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Jeffry Elliott: We'll have AI agents doing sales for us
doing, you know, lead generation,
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Jeffry Elliott: doing problem solving,
analyzing documents,
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Johnnie Martinez: Yeah.
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Jeffry Elliott: comparing at least document against.
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Jeffry Elliott: A specific one for a customer versus our
base document.
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Jeffry Elliott: What are the differences?
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Jeffry Elliott: What was negotiated?
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Jeffry Elliott: Those types of things,
those things cost a lot.
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Johnnie Martinez: Mm hmm.
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Jeffry Elliott: When you hire lawyers to do it,
and AI can do it in a much more fast and
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Jeffry Elliott: low cost kind of way.
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Jeffry Elliott: So there's all kinds of different things
that we can do to speed up the process.
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Jeffry Elliott: Using embedded finance approach.
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Jeffry Elliott: So instead of the the old linear approach
of, you know,
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Jeffry Elliott: credit application compliance credit.
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Jeffry Elliott: Proposal Doc prep.
We're starting to work on all these
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Jeffry Elliott: things.
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Jeffry Elliott: At the same time,
because we're taking an embedded finance
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Jeffry Elliott: approach where we're gathering enough
information that we can do more than one
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Jeffry Elliott: thing at a time and bring it all together
and service the customer faster and
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Jeffry Elliott: quicker right when they want to be served.
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Jeffry Elliott: So those those types of things are are
really important to us from a technology
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Jeffry Elliott: side,
but we're still a people first business,
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Jeffry Elliott: but we're still going to talk to people
and when they want to be talked to,
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Jeffry Elliott: if they want to be served digitally,
we're going to be.
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Jeffry Elliott: We're going to offer that.
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Jeffry Elliott: And and that's important.
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Jeffry Elliott: I know myself when I want to be served
digitally,
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Jeffry Elliott: I find it annoying that I can't do that
with a lot of companies,
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Jeffry Elliott: but sometimes I just want to talk to
somebody and we're going to.
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Jeffry Elliott: We're going to offer both,
so we're going to be able to to do both
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Jeffry Elliott: for for companies and hopefully that.
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Jeffry Elliott: Mix of technology and people ends up in a
better experience for for customers.
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Johnnie Martinez: That makes a a ton of sense.
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Johnnie Martinez: And yeah,
you hit on the two of the very
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Johnnie Martinez: interesting things there,
the first one being the aspect of it
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Johnnie Martinez: where you know it's about being able to
to get everything done at a a speed
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Johnnie Martinez: nowadays,
especially in the modern consumer,
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Johnnie Martinez: even though these businesses aren't
necessarily the.
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Johnnie Martinez: Consumers under themselves as like a,
you know, AB to C.
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Johnnie Martinez: It's AB to B.
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Johnnie Martinez: But there's still a lot of that same
mentality of this has to be done in an
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Johnnie Martinez: instant.
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Johnnie Martinez: This has to be done immediately because I
need to be able to to be on my.
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Johnnie Martinez: Way as a as a business just like I need
to be on my way as a a customer and so
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Johnnie Martinez: kind of balancing that.
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Johnnie Martinez: We need this done efficiently,
but we need to do things right on our end
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Johnnie Martinez: as a lender.
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Johnnie Martinez: So how do you kind of balance that when
you're when you're thinking about when
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Johnnie Martinez: you're putting it together,
when you're having these conversations
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Johnnie Martinez: with potential customers?
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Jeffry Elliott: Yeah. Yeah. So a lot of it is.
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Jeffry Elliott: Think about some of the things that
happen when you do.
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Jeffry Elliott: Let's just take a $5,000,000 transaction.
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Jeffry Elliott: So this is a larger transaction and a lot
of people tell you well,
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Jeffry Elliott: you don't need all this technology for
that.
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Jeffry Elliott: I I think you do and and the reason being
is you know a $5,000,
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Jeffry Elliott: 000 transaction in a typical bank can go
into the bank and.
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Jeffry Elliott: It could be like a black hole.
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Jeffry Elliott: You could go two months not hear anything
back.
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Jeffry Elliott: And the bank will tell you? Well,
we're waiting on this information and if
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Jeffry Elliott: the salesperson isn't really if they're
busy and they're not really on top of it
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Jeffry Elliott: and they think everybody's communicated
properly,
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Jeffry Elliott: everybody's sitting there on their hands,
waiting for somebody else to do somet.
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Jeffry Elliott: One of the things with technology.
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Jeffry Elliott: Can be constant contact on these things.
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Jeffry Elliott: Here's here's what we need to process
this transaction.
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Jeffry Elliott: Hey, by the way,
it'll reach out and say we're still
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Jeffry Elliott: looking for this invoice.
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Jeffry Elliott: Voice or this information on the
equipment or this financial statement or
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Johnnie Martinez: Mm hmm.
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Jeffry Elliott: whatever it is that we're looking for,
are these questions answered?
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Jeffry Elliott: And so our systems will communicate with
our customers and with our with our sales
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Jeffry Elliott: people and everybody communicating
consistently and at the speed of of
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Jeffry Elliott: what's appropriate for the transaction at
the time to move that transaction forward
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Jeffry Elliott: quicker, I don't need.
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Jeffry Elliott: The credit score of $5,000,
000 deal in 1/2 an hour now.
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Johnnie Martinez: OK.
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Jeffry Elliott: $30,000 deal.
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Jeffry Elliott: We're gonna do that in in less than half
an hour, but on a $5,000,
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Jeffry Elliott: 000 deal I just need to be organized and
keep things in communication and reach
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Jeffry Elliott: out to the different parties.
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Jeffry Elliott: Sometimes there's lots of different
parties involved.
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Jeffry Elliott: We've got appraisers or inspections or
all kinds of different things, you know,
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Johnnie Martinez: Mm hmm.
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Jeffry Elliott: residual value insurance or some
something going on in that transaction.
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Jeffry Elliott: They're complex, right?
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Jeffry Elliott: Well,
the technology can help manage that whole
030db5fc-3f4a-4267-aee5-f188aee7ee78/1248-0
Johnnie Martinez: Mm hmm.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1252-1
Jeffry Elliott: process.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1264-0
Jeffry Elliott: You know can help you speed up your asset
management process so you can analyze
030db5fc-3f4a-4267-aee5-f188aee7ee78/1264-1
Jeffry Elliott: those assets.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1292-0
Jeffry Elliott: A lot of times,
that's one of the things you're doing
030db5fc-3f4a-4267-aee5-f188aee7ee78/1292-1
Jeffry Elliott: when you're doing a $5,000,
000 deal is you're you're analyzing not
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Jeffry Elliott: just the financial statements,
but the asset itself.
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Jeffry Elliott: Well, you need that information.
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Jeffry Elliott: Technology can help you get that
information faster and organized better.
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Jeffry Elliott: You only have so much time in the day to
do everything so.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1337-0
Jeffry Elliott: Bringing those technology assets to bear
in the big transactions are gonna make
030db5fc-3f4a-4267-aee5-f188aee7ee78/1337-1
Jeffry Elliott: them more fast and flexible and a better
experience for the customer and meet
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Jeffry Elliott: their deadlines.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1344-0
Jeffry Elliott: And and we can manage our risk.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1372-0
Jeffry Elliott: It also helps us in terms of risk on
concentration risk.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1372-1
Jeffry Elliott: So it let's just say we have $5,000,
000 transaction and we're only
030db5fc-3f4a-4267-aee5-f188aee7ee78/1350-0
Johnnie Martinez: Hmm.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1372-2
Jeffry Elliott: comfortable with 2 1/2. Well,
we didn't sell the other side of that
030db5fc-3f4a-4267-aee5-f188aee7ee78/1372-3
Jeffry Elliott: transaction, right?
030db5fc-3f4a-4267-aee5-f188aee7ee78/1392-0
Jeffry Elliott: So our technology is connected to our
capital Markets group,
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Jeffry Elliott: which can immediately start going to the
market saying, hey,
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Jeffry Elliott: we want to do this deal.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1409-0
Jeffry Elliott: Do you want to take 50% of it or 25% of
it?
030db5fc-3f4a-4267-aee5-f188aee7ee78/1399-0
Johnnie Martinez: OK.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1409-1
Jeffry Elliott: And we'll find other players behind the
scenes that will add us up to five.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1431-0
Jeffry Elliott: $1,000,
000 and let us finish that transaction
030db5fc-3f4a-4267-aee5-f188aee7ee78/1431-1
Jeffry Elliott: off the old school way of doing that is
you kind of finished the deal.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1435-0
Jeffry Elliott: You take it down.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1439-0
Jeffry Elliott: You start putting together an
underwriting package.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1446-0
Jeffry Elliott: It takes six months to do that.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1448-0
Jeffry Elliott: Or you gotta.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1483-0
Jeffry Elliott: It's just a lot of time to go talk to a
lot of people,
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Jeffry Elliott: use technology to connect with more
people quicker and get a quick know or or
030db5fc-3f4a-4267-aee5-f188aee7ee78/1483-2
Jeffry Elliott: maybe then you focus on the maybes and
not the no's.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1483-3
Jeffry Elliott: Then you can get to that answer quicker
and.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1514-0
Jeffry Elliott: Serve your customers so there's a whole
bunch of things that that really improve
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Jeffry Elliott: the process when you utilize technology
because you simply are trying to be in
030db5fc-3f4a-4267-aee5-f188aee7ee78/1514-2
Jeffry Elliott: too many places at one time and you you
can only do so much so that technology
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Jeffry Elliott: can can make some of.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1538-0
Jeffry Elliott: Those phone calls for you or could make
some of those communications for you
030db5fc-3f4a-4267-aee5-f188aee7ee78/1525-0
Johnnie Martinez: Mm hmm.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1538-1
Jeffry Elliott: really speed up the process.
And and it's not just about delivering
030db5fc-3f4a-4267-aee5-f188aee7ee78/1538-2
Jeffry Elliott: that credit approval.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1540-0
Johnnie Martinez: OK.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1542-0
Jeffry Elliott: It.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1560-0
Jeffry Elliott: Doing all the things behind the scenes to
enable you to deliver that credit
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Jeffry Elliott: approval and close that deal.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1596-0
Jeffry Elliott: So it's it's different from the small
ticket process,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1596-1
Jeffry Elliott: which is is just kind of systematically
driven and quick,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1596-2
Jeffry Elliott: you're taking a bigger process and
bringing the timelines down between all
030db5fc-3f4a-4267-aee5-f188aee7ee78/1596-3
Jeffry Elliott: those little jobs that are built on each
other and can be done at the same time as
030db5fc-3f4a-4267-aee5-f188aee7ee78/1588-0
Johnnie Martinez: No.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1596-4
Jeffry Elliott: OPP.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1604-0
Jeffry Elliott: To linear again,
you know some of those things.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1610-0
Jeffry Elliott: Asset management was down the list of
things that you did.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1618-0
Jeffry Elliott: You know, on a on a deal,
you ate a few weeks right before.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1621-0
Jeffry Elliott: Got started.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1627-0
Jeffry Elliott: We start right away on that.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1631-0
Jeffry Elliott: So it's it's a different approach.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1658-0
Jeffry Elliott: You'll you'll see it work better for
customers because they just they they
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Jeffry Elliott: wanna know what's going on and you just
consistently touch base with them.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1658-2
Jeffry Elliott: So they they know what they need to be
doing.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1665-0
Jeffry Elliott: We know we need to be doing and
everyone's connected.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1670-0
Johnnie Martinez: Right. No. Yeah, that makes sense.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1703-0
Johnnie Martinez: How old that would would fit together,
especially just, you know,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1703-1
Johnnie Martinez: condensing that timeline,
smoothing that timeline out,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1703-2
Johnnie Martinez: making it easier for everyone,
and then the the communication
030db5fc-3f4a-4267-aee5-f188aee7ee78/1703-3
Johnnie Martinez: transparency part,
which I do want to get into a little
030db5fc-3f4a-4267-aee5-f188aee7ee78/1703-4
Johnnie Martinez: later.
But there's one thing you brought up that
030db5fc-3f4a-4267-aee5-f188aee7ee78/1703-5
Johnnie Martinez: I want.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1730-0
Johnnie Martinez: To touch on because for me,
as someone who kind of came into the
030db5fc-3f4a-4267-aee5-f188aee7ee78/1730-1
Johnnie Martinez: industry fairly recently,
it's been fascinating to discover just
030db5fc-3f4a-4267-aee5-f188aee7ee78/1730-2
Johnnie Martinez: how many moving parts there are in the
average transaction, right?
030db5fc-3f4a-4267-aee5-f188aee7ee78/1739-0
Johnnie Martinez: You think about it from almost an outside
perspective.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1740-0
Johnnie Martinez: You know, it's a deal.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1782-0
Johnnie Martinez: Selling piece of equipment that a
lender's got to finance,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1782-1
Johnnie Martinez: but there's actually so many other moving
parts to it. And so I, you know,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1782-2
Johnnie Martinez: kind of getting into that and sort of how
you manage that process and make sure
030db5fc-3f4a-4267-aee5-f188aee7ee78/1764-0
Jeffry Elliott: No.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1782-3
Johnnie Martinez: that kind of everything's running
smoothly for.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1792-0
Johnnie Martinez: The stuff that's not necessarily your
hands on directly.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1799-0
Jeffry Elliott: Well, yeah, that that is.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1801-0
Jeffry Elliott: It's critical because.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1815-0
Jeffry Elliott: Equipment finance is made-up of a whole
bunch of many businesses in many
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Jeffry Elliott: industries, right?
030db5fc-3f4a-4267-aee5-f188aee7ee78/1831-0
Jeffry Elliott: And so a trucking deal is not the same as
a construction deal and not the same as a
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Jeffry Elliott: corporate aircraft deal and and so forth.
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Jeffry Elliott: So all those industries and equipment
types,
030db5fc-3f4a-4267-aee5-f188aee7ee78/1872-1
Jeffry Elliott: they all have nuances that are different.
And so in dealing with dealers is
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Jeffry Elliott: different and dealing with dealer A and
dealer B,
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Jeffry Elliott: you might have a total different program
set up with both of them or no program
030db5fc-3f4a-4267-aee5-f188aee7ee78/1867-0
Johnnie Martinez: OK.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1872-4
Jeffry Elliott: whatsoever.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1879-0
Jeffry Elliott: And is it new equipment or is it used
equipment?
030db5fc-3f4a-4267-aee5-f188aee7ee78/1875-0
Johnnie Martinez: Mm hmm.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1889-0
Jeffry Elliott: There's so many variables to to deal with.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1927-0
Jeffry Elliott: We all know what to do with those,
but sometimes we we only got so much time
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Jeffry Elliott: in the day,
so having systems in place to facilitate
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Jeffry Elliott: what you already know you need to do on
certain transactions and have that taught
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Jeffry Elliott: to AI.
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Jeffry Elliott: So it starts doing it for you,
and then you're you're still reviewing
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Jeffry Elliott: everything.
They're not making decisions necessarily.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1946-0
Jeffry Elliott: That are final.
030db5fc-3f4a-4267-aee5-f188aee7ee78/1950-0
Jeffry Elliott: They're doing some of the work so that
you can.
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Jeffry Elliott: Review it and make final decisions on
transactions.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2002-0
Jeffry Elliott: I mean,
we'll get to things where their auto
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Jeffry Elliott: scored or auto decision and and doing
things where IAI will make some decisions,
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Johnnie Martinez: OK.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2002-2
Jeffry Elliott: but it's really not about the decision
making as much as it is about
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Jeffry Elliott: facilitating making the process happen to
go through all those different things
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Jeffry Elliott: that.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2008-0
Jeffry Elliott: Need to happen, you know. Are you?
030db5fc-3f4a-4267-aee5-f188aee7ee78/2016-0
Jeffry Elliott: Are you looking at a A used equipment
piece?
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Jeffry Elliott: What's the valuation there?
030db5fc-3f4a-4267-aee5-f188aee7ee78/2026-0
Jeffry Elliott: Who should we be talking to?
030db5fc-3f4a-4267-aee5-f188aee7ee78/2029-0
Jeffry Elliott: What are the comps in the marketplace?
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Jeffry Elliott: Well,
our systems can do that a lot faster.
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Jeffry Elliott: Than an asset manager having to make a
bunch of phone calls or go through a
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Jeffry Elliott: bunch of old guides, you know,
let's get real market information from
030db5fc-3f4a-4267-aee5-f188aee7ee78/2059-2
Jeffry Elliott: the Internet.
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Jeffry Elliott: Let's find the right players to talk to
on current valuation,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2087-1
Jeffry Elliott: and then let's have those conversations
and put that those comments into an
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Jeffry Elliott: already populated equipment finance
evaluation grid that AI did.
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Jeffry Elliott: Right, 'cause AI can take all that data.
Put it grid together.
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Jeffry Elliott: Right then,
asset management can come together,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2124-1
Jeffry Elliott: come in and say, well,
I spoke to Joe Smith at, you know,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2124-2
Jeffry Elliott: Crane rentals and it.
And he said these cranes are really in
030db5fc-3f4a-4267-aee5-f188aee7ee78/2124-3
Jeffry Elliott: demand because of XY and Z.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2153-0
Jeffry Elliott: And then put those comments in there,
and here's what we found.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2153-1
Jeffry Elliott: And here's what we think the valuation is
based on our conversation in the industry
030db5fc-3f4a-4267-aee5-f188aee7ee78/2153-2
Jeffry Elliott: and the data that we gathered from all
these various sources.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2150-0
Johnnie Martinez: OK.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2177-0
Jeffry Elliott: So it it takes a lot of friction out of
it. In the old days,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2177-1
Jeffry Elliott: that's all done with spreadsheets and
books and guides and and it's just it's
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Jeffry Elliott: hard to document it and you know.
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Jeffry Elliott: Asset managers are really smart people
that know a lot about assets.
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Jeffry Elliott: They're not necessarily.
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Jeffry Elliott: You know authors and the best writers and
organizers of that data, right?
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Jeffry Elliott: And so having better organization for
them to access the information that they
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Jeffry Elliott: have and get the intelligence that they
have in their brain really improves the
030db5fc-3f4a-4267-aee5-f188aee7ee78/2228-3
Jeffry Elliott: process.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2232-0
Jeffry Elliott: So that's where we're going with
everything.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2261-0
Johnnie Martinez: Got you know that that seems like the
best way to be be doing.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2261-1
Johnnie Martinez: Especially you know that you've talked
about so many times during this call is
030db5fc-3f4a-4267-aee5-f188aee7ee78/2261-2
Johnnie Martinez: as much of this technology as a tool and
an asset for you guys.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2269-0
Johnnie Martinez: There's always going to be the people
element, right?
030db5fc-3f4a-4267-aee5-f188aee7ee78/2305-0
Johnnie Martinez: The the human aspect to it,
being involved in it, and so I just,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2305-1
Johnnie Martinez: I think that's one of the things that's
important to note,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2305-2
Johnnie Martinez: talking with people and finding industry
who are on this tech side.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2305-3
Johnnie Martinez: I'm trying to be so tech forward is it's
not removing the human.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2320-0
Johnnie Martinez: Element which is maybe what some of the
other industries have done that have been
030db5fc-3f4a-4267-aee5-f188aee7ee78/2320-1
Johnnie Martinez: on the front end.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2322-0
Johnnie Martinez: Of technology.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2334-0
Jeffry Elliott: Yeah, yeah,
I'm trying to really push that point
030db5fc-3f4a-4267-aee5-f188aee7ee78/2334-1
Jeffry Elliott: because I don't.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2365-0
Jeffry Elliott: First of all,
I don't want it to be that way and I
030db5fc-3f4a-4267-aee5-f188aee7ee78/2365-1
Jeffry Elliott: don't believe that's that.
You could take us out of it.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2365-2
Jeffry Elliott: 'cause there's it's.
It's really more of an art than a science,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2365-3
Jeffry Elliott: but there are pieces of it that are
science, right?
030db5fc-3f4a-4267-aee5-f188aee7ee78/2380-0
Jeffry Elliott: There are pieces of it that are boring,
like following up on insurance
030db5fc-3f4a-4267-aee5-f188aee7ee78/2380-1
Jeffry Elliott: certificates.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2383-0
Jeffry Elliott: We can have AI do that, right?
030db5fc-3f4a-4267-aee5-f188aee7ee78/2401-0
Jeffry Elliott: Filing UCCS or doing searching for
certain data elements.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2401-1
Jeffry Elliott: There are things that technology can do
for us that we.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2435-0
Jeffry Elliott: We don't need to do and so moves
everybody's job up a level to higher
030db5fc-3f4a-4267-aee5-f188aee7ee78/2435-1
Jeffry Elliott: level task.
So while I might not need as many people
030db5fc-3f4a-4267-aee5-f188aee7ee78/2435-2
Jeffry Elliott: as I used to to do the same jobs,
I can have fewer people pay them more and
030db5fc-3f4a-4267-aee5-f188aee7ee78/2435-3
Jeffry Elliott: they have a better work.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2452-0
Jeffry Elliott: Life balance because they're making
better decisions on better information
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Jeffry Elliott: and doing less work.
But more important work.
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Jeffry Elliott: And that's really the goal.
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Johnnie Martinez: Gotcha. No, I'm.
I'm sure that that work life balance
030db5fc-3f4a-4267-aee5-f188aee7ee78/2483-1
Johnnie Martinez: element as well as an attractive thing
for people who are,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2483-2
Johnnie Martinez: you know trying to get into this industry
as well as people who have been in here
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Johnnie Martinez: for years.
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Johnnie Martinez: And I think it's an interesting point,
as someone who's been around for as long
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Johnnie Martinez: as you're having the equipment finance
space.
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Johnnie Martinez: So and now you're in this position as
someone who's the founder and CEO at Elev
030db5fc-3f4a-4267-aee5-f188aee7ee78/2515-3
Johnnie Martinez: X, running your own shop.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2534-0
Johnnie Martinez: So what is the advice that you would pass
on to someone who wants to be in your
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Johnnie Martinez: shoes one day,
or someone who's just now kind of getting
030db5fc-3f4a-4267-aee5-f188aee7ee78/2534-2
Johnnie Martinez: started in the space?
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Jeffry Elliott: Yeah.
So my number one thing we haven't talked
030db5fc-3f4a-4267-aee5-f188aee7ee78/2551-1
Jeffry Elliott: about it today is networking.
You know in this, in this industry.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2568-0
Jeffry Elliott: Understanding your your competition,
being friends with your your competition,
030db5fc-3f4a-4267-aee5-f188aee7ee78/2568-1
Jeffry Elliott: you need partners.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2572-0
Jeffry Elliott: We can all work together.
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Jeffry Elliott: There's plenty of business out there for
all of us.
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Jeffry Elliott: Yeah.
And any given time you might be competing
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Jeffry Elliott: against somebody else and that's fine.
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Jeffry Elliott: But understanding the marketplace,
understanding what's going on,
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Jeffry Elliott: knowing who the players are in the
industry.
030db5fc-3f4a-4267-aee5-f188aee7ee78/2637-0
Jeffry Elliott: You know,
knowing that somebody's better at,
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Jeffry Elliott: you know,
a crane deal than you are is a good thing
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Jeffry Elliott: because you can take that to them and
either split that deal or just sell them
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Jeffry Elliott: that deal.
And then you you can learn either how to
030db5fc-3f4a-4267-aee5-f188aee7ee78/2637-4
Jeffry Elliott: do that trans.
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Jeffry Elliott: Maybe for the future,
or just know that I've got a source to
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Jeffry Elliott: place that transaction and make fee
income off of it, right?
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Jeffry Elliott: You don't have to do every deal on your
balance sheet to to hold it.
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Jeffry Elliott: You might be less of a balance sheet
holder and and more of a.
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Jeffry Elliott: A broker player and that's fine.
I think you need to have a little bit of
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Jeffry Elliott: a a trading aspect where you do take some
risk somewhere.
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Jeffry Elliott: If you're just pure brokerage that that
can be a tough way to to go.
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Jeffry Elliott: But the people do it that way.
I think that that's more challenging in
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Jeffry Elliott: today's model, but.
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Jeffry Elliott: Really,
networking with people is is critical.
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Johnnie Martinez: Well, with all that in mind,
the last question I would have for you is
030db5fc-3f4a-4267-aee5-f188aee7ee78/3433-1
Johnnie Martinez: there anything else you think listeners
of the Digg podcast or readers of
030db5fc-3f4a-4267-aee5-f188aee7ee78/3433-2
Johnnie Martinez: equipment finance news should know about
elevx capital or the the state of the
030db5fc-3f4a-4267-aee5-f188aee7ee78/3433-3
Johnnie Martinez: equipment finance space?
030db5fc-3f4a-4267-aee5-f188aee7ee78/3462-0
Jeffry Elliott: I would say you know that the state of
the equipment finance space is, is,
030db5fc-3f4a-4267-aee5-f188aee7ee78/3462-1
Jeffry Elliott: is good,
you know in in choppy markets equipment
030db5fc-3f4a-4267-aee5-f188aee7ee78/3462-2
Jeffry Elliott: finance usually does.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3470-0
Jeffry Elliott: Well,
we're we're we do well when things are
030db5fc-3f4a-4267-aee5-f188aee7ee78/3470-1
Jeffry Elliott: good and we do well when things are bad.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3494-0
Jeffry Elliott: There's kind of chaos going on right now
with the economy and tariffs and all
030db5fc-3f4a-4267-aee5-f188aee7ee78/3494-1
Jeffry Elliott: these things going on. You know,
equipment still going to be needed.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3486-0
Johnnie Martinez: Anywhere.
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Jeffry Elliott: Market valuation on assets is kind of all
over the place depending on what sector
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Jeffry Elliott: you're in.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3550-0
Jeffry Elliott: My advice to people is to to stay
diversified in your your your plans.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3550-1
Jeffry Elliott: If you're.
If you're a leasing company that is
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Jeffry Elliott: focused on one industry, you know how to,
how can you diversify that,
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Jeffry Elliott: at least within that industry or add a
second industry. So you got some.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3574-0
Jeffry Elliott: Diversification. You know,
a lot of people have been hurt over the
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Jeffry Elliott: last few years that were trucking focused
and especially brokerage freight focused.
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Jeffry Elliott: And you know,
they really needed to to diversify that.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3601-0
Jeffry Elliott: That in, you know,
syndicate some of their portfolios and
030db5fc-3f4a-4267-aee5-f188aee7ee78/3601-1
Jeffry Elliott: have a a good plan.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3611-0
Jeffry Elliott: But yeah,
a diversified plan in choppy markets is a
030db5fc-3f4a-4267-aee5-f188aee7ee78/3611-1
Jeffry Elliott: is a good strategy to have and so.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3637-0
Jeffry Elliott: We're we're positioned well to do well in
this economy with more business being
030db5fc-3f4a-4267-aee5-f188aee7ee78/3637-1
Jeffry Elliott: built or products being built in the
United States.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3641-0
Jeffry Elliott: A lot of equipment needed for that.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3648-0
Jeffry Elliott: So you know that that type of stuff works
towards.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3652-0
Jeffry Elliott: Our business doing well.
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Jeffry Elliott: We'll see how the banks operate going
forward.
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Jeffry Elliott: I still think they're gonna merge and and
pull back more in the equipment finance
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Jeffry Elliott: space.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3690-0
Jeffry Elliott: So I think there's gonna be more and more
opportunity for independence,
030db5fc-3f4a-4267-aee5-f188aee7ee78/3690-1
Jeffry Elliott: but banks are just gonna.
030db5fc-3f4a-4267-aee5-f188aee7ee78/3709-0
Jeffry Elliott: They're always gonna play a role,
but probably just a little bit different
030db5fc-3f4a-4267-aee5-f188aee7ee78/3709-1
Jeffry Elliott: role.
And I think that changing landscape is
030db5fc-3f4a-4267-aee5-f188aee7ee78/3709-2
Jeffry Elliott: good, good for our industry overall.
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Johnnie Martinez: Got you know that makes.
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Johnnie Martinez: A ton of sense, you know,
being an interesting time to to watch,
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Johnnie Martinez: and I wish you the best of luck in it.
And I thank you so much for your time
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Johnnie Martinez: today.
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Jeffry Elliott: Thanks, Johnnie.
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Jeffry Elliott: Take care.
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Johnnie Martinez: You too.
