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Welcome to the WealthyWellthy Life with Krisstina Wise. In today’s installment, Krisstina chats with Evan Baehr, co-founder of Able Lending, a low-cost online lending company that believes access to capital at fair rates is a fundamental right. Evan went to Princeton, Yale, and Harvard Business School; and has worked on Facebook with Sheryl Sandberg and Peter Thiel, the co-founder of PayPal. Evan’s previous startup was Outbox, and he is the co-author of Get Backed: Craft Your Story, Build the Perfect Pitch Deck, and Launch the Venture of Your Dreams. He lives in Austin, TX, with his wife Kristina and two children Cooper and Madeline. Tune in to hear how Able Lending is helping carve the way for small businesses and entrepreneurs.
You can also click on the time stamps below to jump to those specific points in the conversation.
What We Covered
- [05:00] – What happened to Evan’s first startup company, Outbox?
- [05:39] – How did Evan go from his other ventures into co-founding a Lending Company?
- [05:55] – Peter Thiel’s book, Zero to One: Notes on Startups, or How to Build the Future.
- [09:30] – What do acquisition costs and lifetime value of a customer mean to a startup?
- [11:00] – Krisstina talks about some of her business ventures.
- [15:30] – Since 2008, large bank lending to small businesses has dropped by 42%.
- [16:15] – What was the challenge in the marketplace that sparked the concept behind Able?
- [17:28] – Who are some of the high-interest rate lenders?
- [19:45] – What riddle were Evan and Will trying to solve?
- [21:20] – Lending is a massive box of anonymity.
- [22:30] – What are the criteria small businesses need to know?
- [22:40] – What can Able’s product do for Entrepreneurs?
- [24:28] – Evan shares an example of a small business model.
- [26:00] – How can companies receive lower interest rates with Able?
- [30:00] – What does crowd-funding mean?
- [33:27] – How much can an average borrower save?
- [34:36] – What is the myth surrounding small businesses?
[Tweet “Learn how backers affect your rate at Able Lending and save you thousands.”]
[Tweet “Myth: Raising debt is a sign of weakness and selling equity is the sign of success.”]
[Tweet “Keep ownership of your business and keep a low cost of capital.”]
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