Ned with David Silverstein | E370

Lending management platform.

Jason Pereira interviews David Silverstein, Founder of Ned, a white label online platform aimed at enhancing lender transparency and cash flow visibility for small to medium-sized businesses. Silverstein discusses the origin of Ned, emphasizing transparency and trust between lenders and borrowers, and explains how Ned facilitates cash flow lending with real-time borrower insights. He further explores the challenges faced by conventional lending systems and how Ned addresses these by offering innovative solutions for lenders to design custom capital products, thereby enhancing their market share and efficiency. The conversation delves into the significance of real-time cash flow data, enabling better risk assessment and lending practices.

Episode Highlights:

  • 00:08: Introduction to the podcast and David Silverstein, founder of Ned.

  • 00:27: David Silverstein expresses appreciation for being on the show.

  • 00:30: David gives an overview of Ned's platform capabilities and offerings.

  • 01:41: The origin story of Ned and how it was founded to resolve friction in business lending.

  • 03:03: Discussion on the challenges lenders face and how Ned solves these issues.

  • 04:10: Exploration of how typical lending infrastructure has been outdated.

  • 06:03: Jason highlights the archaic nature of traditional lending and the need for frequent cash flow assessments.

  • 10:01: David discusses how Ned facilitates better lender-borrower relationships.

  • 14:48: More insights into how Ned enables smarter, safer lending through better borrower data.

  • 17:16: David addresses Ned's impact on the acceleration of growth for lending companies.

  • 23:58: Future goals and innovations Ned is working toward.

  • 27:54: David’s wish for change in the company's operations or sector being in the area of change management.

  • 29:08: Discussion about pricing as one of the biggest challenges currently faced by Ned.

  • 30:21: The excitement behind Ned's mission and its impact on borrowers and lenders alike.

  • 32:19: Closing remarks and appreciation from Jason to David.

Key Takeaways:

  • Ned enhances lender-borrower relationships through a platform that prioritizes transparency and trust.

  • Real-time cash flow data is crucial for modern lending, enabling better risk assessment and decision making.

  • By enabling bespoke loan products, Ned allows lenders to serve a broader market and meet borrowers’ specific needs.

  • The platform reduces underwriting time and improves repayment consistency, fostering better business outcomes.

  • Future innovations at Ned focus on utilizing borrower data to improve loan strategies and growth potential.

Tweetable Quotes:

  • "The relationship between a borrower and a lender is pretty darn intimate." - David Silverstein

  • "The old way of underwriting a small business loan is misaligned with today's economy." - David Silverstein

  • "Our DNA was built with revenue-based repayments, automating balance checks and transparency." - David Silverstein

  • "We're seeing lenders compete on price and offer really fantastic rates as compared to the market norm." - David Silverstein

  • "It's all about the borrowers. It's all about intimate relationships and long-lasting relationships." - David Silverstein

Resources Mentioned:

Fintech ImpactJason PereiraFintech