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#16 - Building An Alternative Capital Juggernaut to $300B in Entrepreneurs Funded with Chris Atkins, President of Capital Finance and Capital Markets at C2FO
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This episode features Chris Atkins, President of C2FO’s lending business, also called Capital Finance. Chris joined C2FO in 2018, taking on a pivotal role in spearheading a data-driven lending function. He successfully launched C2FO's working capital lending solutions for the company's extensive network of suppliers. Prior to his tenure at C2FO, Chris spent 12 years in the finance and private equity sectors, primarily focusing on smaller, lower-middle-market, and middle-market enterprises. Notably, he worked with Main Street Capital Corporation in Houston.
In our conversation, Chris provides insights into C2FO's remarkable journey, transforming from a startup based in Kansas City into a financial powerhouse that has raised over $400 million and accelerated invoices totaling $300 billion. Chris delves into C2FO's innovative approach and significant impact on a diverse array of businesses, from independent lawn mowing ventures to Fortune 10 corporations. Chris highlights the challenges and opportunities associated with adapting to the demands in the financial industry and how he thinks about automation and AI. He also emphasizes the the importance of teasing out the various threads of one's career over time, and how they can unexpectedly converge to create a unique and fulfilling professional journey.
Key Takeaways
[3:00] Chris’s start as a commercial banker in downtown Denver, and later pursued an MBA to get into private equity and private credit investing.
[5:28] The common thread of helping people and looking back to see how your past has impacted many different people and facets of life.
[7:40] What Chris learned helping the FDIC examine and close banks during the great recession.
[10:14] C2FO just crossed $300 billion in invoices and has raised $400-$500 hundred million.
[10:58] The two key ways in which C2FO finances businesses.
[14:18] The CapFin side of C2FO.
[17:25] Why the first iteration of the lending business didn’t achieve scale and how they fixed it..
[22:04] C2FO’s substantial impact on underfunded, minority owned businesses.
[23:53] First deal to a 72 year old who banks wouldn’t fund.
[25:02] The Schultz Family Foundation investing.
[27:18] Why CIM has been successful.
[40:40] Chris warns of predatory lending and the importance of understanding terms.
[41:49] The advance to being in the C2FO network.
[42:48] The dangers of innovating on credit.
[43:53] The original vision of C2FO founder and CEO Sandy Kemper.
[47:19] The role of AI in lending.
[48:14] AI will only take the jobs we hate.
[49:34] Chris aims to do more RBF.
Resources:
RBF Network
Keith’s Twitter
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