Flexible Funding Company History
Founding Principals and Supporting Team
Managing Member, CEO
Received his Bachelor of Science in Business Administration from the California State University system (majors in both Marketing and Accounting specialties). The first years out of college (late 70’s early 80’s) were as a loan officer for several State/Regional banks. While in finance Steve earned a CA Real Estate Broker License a licensing designation still maintained. Understanding the cyclical nature of the real estate industry–a large segment of bank lending –he then spent years working in the more-stable food brokerage industry, first in the grocery industry with national brands and then in the food service industry. While in this position Steve’s father began urging Steve to seriously think about getting into his own business. When his brother Dave launched an advertising/marketing company in a new groundbreaking medium Steve joined him and together built it up. Eventually they demonstrated it was so lucrative that the large chains they were working with decided to take over the niche themselves– an early lesson in entrepreneurship. With his Brokers License in hand Steve moved into commercial property management, but was still strongly urged by his father to strive toward having his own business; over the decades his dad had seen too many of his friends work in seemingly solid positions for years only get a termination pink slip. In 1992, Steve Capper teamed up with currently-retired Flexible Funding Managing Member/CFO Steven Elias, an (then) active veteran of the staffing industry, to start Flexible Funding. See Steven Elias and Sol Capper bios, and The Beginnings of Flexible Funding story below.
Paul DeLuca - Managing Member
From 1999 until present, Paul grew a National commercial finance portfolio of factoring, asset based lending and purchase order funding from 5MM to over 45MM. Paul's primary long-term expertise includes underwriting, deal structuring and lending loan workouts, much of it focused in the staffing industry/labor sectors. Commercial finance experience in credit, software, accounting systems, banking, insurance, and payroll processing have all provided the skills to head up daily general operations of Flexible Funding. From 2001 to 2008 as a founding principal of Meritus M&A, Paul also facilitated financial transactions/financial buyers in key temporary staffing industry acquisitions. Completing over $1B in staffing industry buyouts, this tenure was invaluable in exposing him to many different situations that a staffing company may find itself in, whether in growth, restructuring, or exit mode. Additional experience in the first decade beginning year 2000, includes starting, operating and selling a medical staffing business with three locations throughout the Western U.S
Retired Managing Member, CFO
Earned his Bachelor of Business Administration- Accounting & Finance at the University of Colorado and also an MBA at Golden Gate University (San Francisco). After a number of years in Operations and Systems Management with Security Pacific Bank–finally merging into Bank of America– he spent a number of years as CFO/Controller for a software startup company that was eventually taken public. He then followed his former software CEO into the staffing industry, functioning for eight years as the CFO/Controller of a staffing company providing temporary employment, permanent placement, and executive search services. Offices were based in San Francisco, with office branches in Palo Alto, CA/Silicon Valley and Southern California/Orange County. In this position Elias learned all aspects of the staffing industry, ran hundreds of weekly payrolls, and found the need to work with payroll funding and factoring companies. Finding many problems with the weekly funding process and the intrusiveness of factoring companies he drew up a superior funding model and had someone cold call for a year and a half to get a funding customer (without result), however, more than calling was needed to get a funding company launched.
Founding Advisor - Early Years Principal
Sol Capper, originally from Brooklyn, NY, earned his Bachelor of Business Administration at City College of New York. His first years out of college in the late 1930’s and early 1940’s were in the factoring accounts-receivable funding industry with United Factors in Manhattan, N.Y. In the early years of the accounts receivable funding industry, funding companies were limited to financing the apparel, garment, and textile trades. He saved his money and then factored/financed the textile industry on his own. He eventually ended up as a national apparel manufacturer (based in San Francisco) for thirty years, all the while, funding the accounts receivables of many other different businesses. Sol ran into a woman who knew that Steven Elias wanted to get a funding company off the ground. Although Sol did not know the staffing industry well, he knew accounts receivables financing, and had two other key pieces that were necessary; an entity with a Commercial Finance Lenders License and proper bonding, and his son Steve Capper who had the marketing as well as the accounting/finance background to get the venture launched.
The Beginnings of Flexible Funding
The three, Steven, Steve, and Sol agreed that a funding project could be put together. While Steven Elias continued to function as a staffing company CFO, and with the permission of the staffing company owner, Steve Capper took up a cubicle in the middle of a thriving staffing agency surrounded on all sides by sales, interviews, searches, and management issues. For years, Steve made thousands of cold calls and developed new marketing while Steven developed operations information systems. Both worked on underwriting due diligence, legal, credit, and the hundreds of other aspects of running a funding company… see A Staffing Agency’s Ongoing Interactions. Sol met with Steven and Steve on a regular basis as an advisor. Funding clients were added one by one until they were large enough to move into their own offices. Steven and Steve saved money to eventually establish their own entity with it’s own Commercial Finance Lenders License and bonding.
Chief of Operations
Flexible Funding grew to a size that needed a higher level of information systems. Steven Elias went to his MBA alma mater to find a graduate student who could work part time designing and programming exactly what was needed. Nash received his Bachelor of Science in Business Information Systems from the California State University system and was now in the final semesters of graduate school at Golden Gate University. He not only built Flexible Funding’s systems at that point but also ran operations as a backup for Steven, and quickly soaked up all aspects of the funding industry. When he graduated with his Masters degree (MBA), it was an easy transition to become a full time team member.
Director of Account Services
Customer Service, Credit and Collections
John received his Bachelor of Business Administration degree from the California State University system. He spent years in the staffing industry as a successful recruiter in temporary and permanent placement. Flexible Funding had an unusually large customer in healthcare staffing that needed full time assistance with invoice follow-up and payment-collections, and Flexible agreed to provide that person at no extra cost. Flexible hired one of its own staffing agency funding customers to do a search for just the right person, somebody who understood the staffing industry. At the same time, the first Middle East war broke out and the permanent placement business in the U.S. was decimated by national uncertainty –so John was receptive to a change. He joined Flexible and over many years has learned collections, credit, and legal aspects of funding. See Accounts Receivable Collection Ties to Payroll Funding. John is an anchor of customer relations at Flexible Funding and is a go-to person for most problems.
Head of Underwriting & Contracts
Marketing & Sales Support
Mark supported himself in college (California State University Long Beach) as a freelance artist, then spent many years as a Network Manager for AT&T. As a ‘Jack-of-all-Trades’ type, with many interests, he eventually tired of the constraints of corporate life, and desired to work in a different, less-formal company environment. Flexible Funding’s well-known customer flexibility is reflected in its internal organization, which allowed him to flourish in the eclectic areas of underwriting, marketing & sales support, contract management and legal support. Mark is a wordsmith par excellence for the company, truly understands and is able to convey our philosophy, tone and unique differences in the staffing payroll funding industry marketplace. Like John, Mark is an anchor of Flexible’s customer relations. He most enjoys strategizing with Steve, while underwriting with his left hand and drinking coffee with his right!
Collateral Monitoring and Special Projects
Mark Harrold received his undergraduate degree in Physics at San Francisco State University, and a law degree (J.D.) from San Francisco Law School. He performed special technical and legal projects for Flexible Funding while working for years in the electronics and computer industries. These projects and the continued growth of Flexible Funding’s client base led him out of the computer industry to focus solely on secured-lending collateral monitoring for Flexible.
Operations Payment Processing
Originally from Chicago, Illinois, Cheryl came to Flexible Funding as a temp to help with payment processing and payments application, and eventually worked into a full time position of the same. Although she remains close with her large family in Chicago, she prefers California weather and the San Francisco environment which is more conducive to her further spiritual studies.
Attorney at Law
Scott earned a B.A from Boston University, and J.D. from the University of California, Hastings College of Law. Scott is an independent attorney with his own private law practice, specializing in commercial collections and business law. He has worked closely with our company for almost two decades, and is very familiar with staffing, receivables finance, and our company operations.
Business Development Officer
For years, Flexible Funding focused primarily on the staffing industry, with an asset-based credit line structure (ABL). Increasingly, some clients have asked us to ‘factor’ their receivables for other types of businesses, or referred friends and associates to us. Banks have typically declined to lend to many of these business owners for a variety of reasons, mostly related to their size, resources, or collateral type. With this market clearly in evidence, Ron Ventre came to us with the perfect mix of experience to facilitate the development of a factoring program. In his role as Business Development Officer, Ron also works to build mutually beneficial business banking relationships. He is a seasoned veteran in commercial banking (First Citizens / Ironstone Bank; Plaza Bank), and represented one of the largest national factoring companies.
Credit and Credit Monitoring
Dave received his Bachelors Degree in Radio and Television from the California State University system (at the highly respected department of the San Francisco campus). Dave spent fifteen years as a television cameraman at CNN, and prior to that as a cameraman with CBS affiliates. After many decades with heavy cameras on the front lines– with foreign presidents, major league sports teams, hanging out of helicopters, trying to stay safe in civil riot situations, with Tom Brokaw and Connie Chung at natural disasters, fighting for camera position with fifty other cameraman at the O.J. Simpson trials, etc.– it was time to move on. Dave learned credit and credit monitoring at Flexible, and has taken many professional trade credit courses with organizations such as the International Factoring Association, Dun and Bradstreet, and Experian Credit. In his spare time he is an award-winning filmmaker of documentaries.