Unsure of where to look next, and how to describe current industry - Alternative finance/lower MM/merchant cash advance
I currently work in the underwriting department for an alternative finance company that specializes in lending to small and medium enterprises. We fund small businesses that need working capital in a hurry, at the cost of effective interest rates in the 25-30% range at the absolute lowest (but usually much higher). Often times, these businesses have been denied by banks, credit unions, and other institutional lenders, so they turn to companies like mine for fast and easy funding. I'm at a loss for how to describe this industry in a way that helps me network with other finance professionals and apply for new jobs. I've been called a loan shark, a terrible person, a parasite for what I currently do. Look up Bloomberg's "The Predatory Lending Machine" article for some more information on the industry.
I'm really not sure where to turn after this role. I want to stay in finance, but I've scoured LinkedIn and other job sites for positions that look like a good lateral, mostly to no avail. Most of my experience at this point (~2 years) has been modeling cash flows, analyzing financial statements, creating offer sheets for new and renewing loans, portfolio management, and negotiating terms of our financing on individual deals with our sales network (see below). This is definitely a "front office" role, but at (at least what I feel like) the bottom of the barrel for financial services.
The most enjoyable parts of the role have been the autonomy I've been allowed in managing my portfolio of these types of loans (low-mid eight figures, projected to double by next year) as well as the influence I have over the entire origination side of the business (more than $100mm but less than $500mm per year). Also, the range of the work: I deal with our small renewal clients on a $20,000 equipment financing engagement, a $50mm/yr concrete mixing operation for short term working capital, and outside investors and hedge funds looking to syndicate on our portfolio all in the same day. Moreover, getting to be the dealmaker on the front end with the client and their broker as well as behind the scenes with our credit committee, inside sales, operations staff and syndicating partners is extremely rewarding. I hope to retain at least some element of fast-paced dealmaking going forward.
Little more about me: I'm in my early 20's, 2 years FT under my belt, graduated from a non-target with a 3.0 in Finance. Any insight on what roles I should be looking at, types of industries to keep on eye on, or just general advice is sincerely appreciated. I feel totally lost looking at all of the IB/HF/PE advice swirling around.
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