Insider’s Corner Q&A: Douglas Gordon, Co-Founder & Executive Vice-President of Fundation
IW: What challenge do you and Fundation face right now?
DG: Serving the financing needs of such a heterogeneous market with a diverse set of borrowing needs and economic pressure points requires a significant amount of time and energy devoted to understanding such intricacies. Properly monitoring and preparing for industry specific trends related to borrowing demand and likelihood of default is a challenging task that necessitates an organized, thoughtful and dynamic approach.
IW: How does IBISWorld help you overcome this challenge?
DG: IBISWorld helps us identify industry specific challenges that face small business owners who come to our platform seeking capital. Having a better understanding of these challenges gives us the ability to quickly adapt to shifts in the economic, regulatory, and industry specific drivers that will directly effect our customers’ current and future performance. Also, IBISWorld helps us improve our customer experience and marketing efforts by providing insights into the day-to-day life of small business owners across the country.
IW: What do you foresee happening in your industry within the next year?
DG: Traditional commercial lenders will continue to cut back on their small business lending efforts and focus on larger scale businesses seeking real estate backed and/or other collateralized type loans. Alternative lending sources are already becoming a much more accessible option for small businesses seeking capital and should continue to gain momentum as new companies like Fundation emerge as an affordable and available source of capital relative to banks and other traditional lenders.
IW: Tell us something interesting about yourself:
DG: As a former Neuroscience major at Bucknell University, I enjoy following the trends & breakthroughs in this rapidly expanding field and applying this knowledge to tackle every-day business challenges. Outside the office, I enjoy playing golf and participating in a variety of sports leagues in NYC. I also am a sucker for an occasional TV singing competition.
Douglas Gordon is the Co-Founder and Executive Vice-President of Fundation, an innovative investment fund with an online direct lending and asset acquisition strategy focused on small businesses seeking capital in amounts between $25,000 and $250,000. Through Fundation’s unique web application, small businesses are able to access affordable capital through a simple, efficient, and transparent process that delivers credit decisions in fewer than 15 minutes and final approval and funding in less than five days.
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