Paulo Lapore works for Rangewell, a company that advises SMEs on financial products across the lending market. He has been working closely with Satago to offer invoice finance to his clients.
We caught up with him about the challenges in the business finance market, the secret to his success and the reasons he chooses to work with Satago.
How long have you been in the business?
3 years, 6 months.
What’s the secret to your success?
Always take Full ownership, Have a learn-it-all mindset. Be prepared for a long road. The road to success is never easy and short.
What are the most important characteristics you look for in an invoice finance provider?
Action rather than thinking, analysing, rethinking, forming committees, etc. Staying close to the customer and being hands on and value driven.
What do you like about Satago?
Professional, great product, great service.
What are the main issues you face with placing invoice finance clients?
Usually being in competition with other brokers.
What are the biggest challenges you see for small businesses in the coming months?
Cashflow and working capital.
What challenges do you see in the business finance market and what products will be the most important?
Compliance obligations imposed on regulated firms. For instance, on 4 March 2020, the Financial Conduct Authority (FCA) published a “Statement on Covid-19 (coronavirus)” reiterating its expectation that regulated firms must “take all reasonable steps to meet their regulatory obligations”
Access to funds will become increasingly more difficult so products like invoice finance and secured loans will be important.