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JUNE 24, 2021 | The Jewish Home OCTOBER 29, 2015 | The Jewish Home
Mind Y
ur Business
Jake Marder & Abe Klugman By Yitzchok Saftlas
Jake Marder, CEO
T
Abe Klugmann, President of Sales
his column features business insights from a recent “Mind Your Business with Yitzchok Saftlas” radio show. The weekly “Mind Your Business” show – broadcasting since 2015 – features interviews with Fortune 500 executives, business leaders and marketing gurus. Prominent guests include: John Sculley, former CEO of Apple and Pepsi; Dick Schulze, founder and Chairman Emeritus of Best Buy; Beth Comstock, former
Vice Chair of GE; among over 400+ senior-level executives and business celebrities. Yitzchok Saftlas, President of Bottom Line Marketing Group, hosts the weekly “Mind Your Business” show, which airs at 10pm every Sunday night on 710 WOR and throughout America on the iHeartRadio Network.
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n a recent 710 WOR “Mind Your Business” broadcast, Yitzchok Saftlas (YS) spoke with guests Jake Marder (JM) and Abe Klugman (AK) of YM Ventures. As the company’s CEO and President of Sales, respectively, they strive to finance businesses of every variety. Helping businesses grow, expand, and support their operations is at the forefront of YM Ventures. * * * YS: Jake, can you explain the difference between a bank loan, a private loan, and what YM Ventures provides? JM: What it boils down to is communication. For a bank loan, for example, you may walk into your local Chase or Bank of America and wait until you get an appointment to speak to a loan officer. Besides for the application taking usually four to six weeks just to get an answer back, if you’re in a tough position and you need it quicker, there’s no one really to urge it along. And let’s say it’s later in the afternoon. Most bankers are
already home. So, in addition to us not being that 9-to-5 kind of company, we’re really there whenever you need us – obviously, except for Shabbos – and we know how to package a loan so that a lender may be more agreeable to take your loan application. We also find the best product to suit your needs. If you walk into any institution or call up a private company, they’ll most likely pitch you the product that they want you to take, which may actually not be the right fit for you. The advantage of going to a company like YM Ventures is that we partner with a whole facet of different products, such as lines of credit, factoring, SBA loans. We’ll actually have a conversation with you, determine what the best product is for long-term growth, and advise you in that direction, as opposed to just pushing something on you that doesn’t really make sense for the long-term. And last of all, because of the relationships we have with our partners and investors, we often have an advantage over you going to them directly. Because of the volume of
business that we do, we get significant discounts on some of the products, which translates into savings for you, as well as the ability to push your loans through quicker, with more expertise. What’s the advantage of coming to YM Ventures versus trying to go to the Small Business Association (SBA) directly? AK: When you’re dealing with brokers, you’re looking for someone who has knowledge. And I’ll explain to you why that is so valuable. People think it’s just knowledge and sales. When we’re bringing a deal to the table for our client, we ultimately need to sell the funder and the investor as well. If we have knowledge in multiple different industries, we can come to the investors and come across as someone who understands what they’re looking for. So, they give us an offer faster, and they provide us with better rates. Knowledge is something that we’re really focused on at YM Ventures and we’re constantly training ourselves and our team to gain ex-
perience on different industries and lending rules. I think that is what ultimately allows YM Ventures to stick out and be different. Jake, before establishing YM Ventures, my understanding is that you saw how other loan companies weren’t being so straight about the fees. Can you discuss what goes on in the industry and how you’re set to change that? JM: One of the reasons why I left the last company I was at was because there was a client of mine that I had been funding for a long time. I brought him over to this new company, and we funded a deal for him. On the funding call, as is typical in our industry, they go over all the numbers. The owner of the company spoke very quickly under his breath and mumbled something about fees, and the client called me the next day and said, “I ended up with a lot less in my bank account than I thought I was getting.” I asked the owner, and he told me, “I went over it with him on the funding call.” Apparently, he
