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  1. #1

    Looking for UW Internship

    Hi Guys,
    I stumbled across this form and it completely opened my mind to the world of alterative lending (lending other than banks). I noticed most of this forum seems to be East Coast, but I am a junior studying Finance in California looking to break into this world. If anyone could offer some advice, or skills that I can rein in that would help me compete! I really am interested in credit risk currently an insurance agent so I feel that its just going to be a mind shift change from operational risk to financial risk!

    Sincerely,
    Michael

  2. #2
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    There are a number of alternative funders on the west coast, and it's kind of the mecca for equipment financing.

    If you're in the Bay Area, you can look into Fundbox; they got series C funding around $200M between the end of last year and midway through the COVID shutdown and are well-capitalized. BlueVine (credit lines/term loans) is in the Bay Area, as well. There's also no shortage of other fintechs around there that are tangentially in the alternative space, if not directly funding as a service.

    If you're southern CA, National Funding and it's subsidiary, QuickBridge, are in San Diego. Balboa Capital is also there (equipment financing and alternative lending). Equipment financing is all over, with a lot of it concentrated in southern California.

    Last note would just be to not undervalue yourself. You'll probably get a lot of solicitation on the forum to work "for experience" or something of the sort; a lot of those companies are probably going to value you as much as they're willing to pay.

  3. #3
    Awesome, just the answer I was looking for. I am in San Diego so that actually works quite well, would you say equipment financing is "fun" out of all the niches I imagine it getting the most stale.
    Would you give any topics or concepts to formalize myself with, is it a main focus on P&L & Balance Sheet?

    Really interested and open to any advice!

  4. #4
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    We're in data mining and lead generation, so not direct sales or any actual financial analysis.

    Fun is pretty subjective; the things you enjoy about a role might make someone else hate it. Our understanding is equipment financing and leasing has a less competitive environment so it would probably be less time-sensitive and stressful than MCAs where seconds matter more.

    The more you understand about fundamental analysis would probably be better in an underwriting position. The higher-tier companies are using software to assess risk better than manually looking over a statement. Software isn't perfect and won't catch everything but it is less fallible than a manual underwriter.

  5. #5
    Interesting, I have taken everyone's advice and fired off LinkedIn requests & emails. I guess beggars can't be choosers so I am looking to get whatever, will take me and work for there. I think I might enjoy the fast pace of MCA but only time can tell.

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