In this episode, Hall welcomes Davron Karimov, CEO of FunderHunt.
Funderhunt specializes in getting capital to business owners across America who are doing $5,000 and above in monthly revenue.
If you take a look at their website, there is no application in order to get a business loan, there is no printing, or faxing, or scanning required. There is a short 3-5-question questionnaire asking you about your business goals. Assuming it’s a match, their algorithm has the capability to match you with perfect funding options based on your answers. Since last year, they have doubled many times in monthly funding volumes.
Typical funding amounts range from $5,000-$2M, depending on factors like monthly revenue, number of deposits, industry, amount of NSF’s/negative days, and credit score. Business owners can expect to get a business loan or an advance of 1-2 months of their monthly revenue.
Davron is the star of the TV show, The Broker (now postponed), and the CEO of Funderhunt. Davron was raised in New York. In 2017, he left college without knowing that he still had to pay for the classes he canceled. He had to find a way to come up with $10K within 2 months. Knowing the only way to avoid bankruptcy was to get a job, he found himself working at a sales job in commercial finance. After closing some early deals at the firm he worked at, a friend with experience building tech startups told him that he could do it on his own and make more dollars. They started Funderhunt with two partners in New York City. After a breakup with his business partners, he moved far away from home, to Miami, Florida, and opened a new office. They now have salespeople that are closing deals and he is on track to have the best year ever.
Davron discusses his background, advises entrepreneurs and investors, shares how he sees the industry evolving, and how FunderHunt works.
For a full transcript, click here.
Music courtesy of Bensound.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.