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Axial CEO Peter Lerhman on how the company helps small businesses looking for financing.
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Well it's all about who you know with -- business world and our next guest is helping countless owners and advisors meet the right people.
An online marketplace called axial connecting businesses across the country to capital and financial data.
The CEO of -- Peter -- meant he joins me now to give small business owners at home inside.
In today's economy thanks for coming in tell us about your company what is your turn to do and and who -- the companies you're serving.
Of.
Course I mean what we've developed is essentially a website that helps owners of private companies figure out.
Organizations or people or institutions that might be interested in providing alone making an investment or acquiring the business so.
We think about this is of imagine if you're selling your house.
And you could go to a web site and immediately know who would be interested in buying your house.
The brokers that would be best served to represent you and the most likely banks to provide.
Mortgage to the buyer we don't like -- An instant rollodexes for small business owners -- -- -- got some 101000 active members.
4000 new and -- reductions 500 new deals in mind -- did this site really serve the small businesses or investment bankers and others who would like to serve them.
Well it's focused on small and medium sized businesses.
The biggest businesses tend to be businesses worth.
Not more than 507500.
Million dollars which is a big business but it's not a multi billion dollar -- -- And on the small and it can be businesses that are just getting started don't even have any customers or revenue.
You know I think a lot of people out there thought that last year would be the ideal time to sell their business because -- change in the tax -- -- What is the thinking this year how to people feel about unloading their business is it easier or harder.
Well what's interest saying it is there's of the there's a statistical just on axial we have 47%.
More companies just in the last ten days.
Coming to market on axial.
That we had in the first ten days of February and I -- there -- happy.
All we think for.
-- -- probably the reason that you've been talking about on this show eight record days of the Dow.
A huge set of very high profile -- transactions.
Lots of companies being bought and sold right now I think.
Lots of private companies are thinking this might be -- great time to actually sell this us.
So what advisory giving these companies -- -- telling him to do what Harry helping them achieve their -- goals.
Good and the number one reason why companies go out of business is because they don't have enough capital.
To make the turn and become big enough to sustain themselves through highs and lows so if you're struggling the most important thing is to understand all your options.
And understand all the places you can access capital it's not just your local bank and I think that that.
-- -- seems like big banks in particular are less and less likely to give you money you've really got to.
Pound the pavement and find somebody who will lend to you that's and that's part of what you're doing right.
We're making it -- much easier to find alternative and nontraditional sources of capital for your business and so.
Our customers aren't banks and in most cases -- individuals -- their institutions that have set up to help private companies but they're not big banks and they're not even local banks.
Interest saying -- if you look out for the balance of the year what do you expect to see be the -- going forward you see more and more of these companies selling.
I think that if we see you know the kind of activity that's happening in the stock market.
And we think about.
More and more activity from big high profile and a transactions I think that that will pass through and trickle through to.
Medium -- businesses and and small companies that say.
Everybody else is doing at stock prices are very high people are very cash rich.
Let's -- what fizzles what price my business confess.
What everybody wants to know if -- cash out what am I gonna get Peter thanks -- not.
It's axial is name of the company that is greater interest said thanks so much for being with us thanks for having me.
