Interview with Eric Youngstrom: Working Capital Solutions – Helping SMBs Grow

Mighty Finsights

Interview with Eric Youngstrom: Working Capital Solutions – Helping SMBs Grow

Host - Rory Holland

Interviewed - Eric Youngstrom

In This Episode

Eric Youngstrom, Founder and CEO of Onramp, discusses his journey in the finance industry and the purpose behind his company. Onramp provides working capital solutions to small e-commerce businesses, helping them overcome cash flow challenges and grow. Eric emphasizes the importance of supporting independent small businesses to create a healthier economy. He shares success stories of businesses that have grown with the help of Onramp's funding. Eric also discusses the challenges of customer acquisition and recruiting, as well as the future of lending and the need for trust in the financial system.

Key takeaways

1. Onramp provides working capital to small e-commerce businesses, helping them overcome cash flow challenges and grow.
2. Supporting independent small businesses is important for creating a healthier economy.
3. Onramp has helped businesses grow and succeed, with some customers graduating to more affordable financing options.
4. Customer acquisition and recruiting are ongoing challenges for Onramp.
5. The future of lending lies in better data visibility and underwriting based on business performance.
6. Trust in the financial system can be built by diffusing corporate power and promoting competition.

Chapters

00:00 Introduction and Background

04:49 Competition and Streamlined Processes

09:30 The Future of Lending and Trust in the Financial System

About Mighty Finsights

This is 'Mighty Finsights,' the podcast where finance meets formidable insights and spirited storytelling. Each episode offers a deep dive into the challenges and achievements that define the financial landscape, providing valuable lessons in finance, innovation, and resilience. Tune in for an experience that brings finance to life through the voices of its most influential leaders.