From business owners to real estate developers, Hub Financing offers unique lending options to businesses of all industries through their vast network of lenders. They sift through all the options to bring the right one to your venture, so you can focus on launching, sustaining, or growing your business. Meet Chris Sava, co-founder of Hub Financing.
Q: What types of services do you offer? And who do you serve (your ideal customer)?
A: Hub Financing, LLC is a full-service business funding company. We provide business and commercial real estate loans structured around each client’s set of financial circumstances through our large network of direct lenders. Our primary client base is composed of business owners and real estate developers.
Q: What is truly unique about your agency that is different than any other advisor? What can you offer that no one else can?
A: We underwrite loans internally before any information is submitted to our lenders. In addition, we have a diverse network of direct lending partners enabling us to facilitate nearly any loan scenario. Although we can’t help every individual or business, we are able to provide a funding partner to the majority of our clients.
Q: When did Hub Financing open its doors in Newburyport? Is this your first office? Have you been a loan advisor for your entire career?
A: Hub Financing, LLC was founded by Chris Sava and Bob Becotte. The business launched in January of 2019 with a mission to improve the means by which entrepreneurs access capital to grow their businesses. Chris’ background in software consulting and the startup community combined with Bob’s 20 year background as the CFO of community bank in Boston gives Hub Financing a unique edge over local banks and other business loan brokers. Although the business was only launched in 2019, the team has a combined 30 years of alternative and institutional commercial lending expertise.
Q: Do you have a success story that you’d like to share with the membership?
A: We encounter challenging scenarios every single day where business owners and developers seek us out to help them access capital when they are unable to do so through traditional lending channels. This is the very reason why the alternative lending market exists. The most rewarding scenario for us typically involves helping business owners meet payroll when there is a slow down in their revenue and they need gap funding to take care of their employees. Each lending scenario we encounter is unique but helping business owners take care of their employees is always a satisfying part of this business.
Q: What advice would you give to a young aspiring entrepreneur?
A: I think offering big ticket products or services is the way to go if you’re trying to launch your own business. Profit margins are important but what really matters is the dollar amount per sale you’re able to generate on a monthly basis. The difference between making 3 sales per month that generate $5,000 in profit each vs making 20 sales at $100 in profit each will make or break your sanity. Identify big issues that you can solve. Focus on that niche. Develop marketing strategies to consistently generate conversations with your target market. Overdeliver for your clients when you can. Leverage referrals and do everything you can to get through the first year.
Q: Are you from the North Shore originally?
A: Yes, I grew up in Newbury and moved to Newburyport in the early 90’s. After living in different parts of the country, including Boston for many years, I moved back to Newburyport in 2016.
Q: What is your favorite thing to do in Newburyport?
A: I guess it would technically be considered Newbury, but the short hike through Old Town Hill is something I have done with family, friends and many dogs since childhood. I plan to continue that tradition with my own family for many years to come.
Q: Do you have any special talent(s)?
A: I have a family full of artists and from what people tell me, I was blessed with some of that creativity. I’ve been selling my ceramic work (think Japanese tea bowl style) at a gallery on Block Island for the past 15 years.
Q: What accomplishment(s) are you most proud of?
A: I would say having a family, but that hasn’t happened just yet. So for now I am most proud of the money I have helped my colleagues make. There is nothing better than helping others be successful.
Q: Is your agency involved with corporate philanthropy?
A: At the moment, we are heavily focused on developing partnerships and strategies to ensure we can deliver for as many clients as possible that reach out to us. We will eventually participate in philanthropic ventures to help build the long term success of the local community and surrounding towns.
Q: What are the agency’s goals for the future?
A: It is getting more and more difficult for average people to generate the type of income required to build a family live comfortably with the time freedom necessary to do so. Additionally, most business owners are unable to access capital to grow their business. This is a huge problem that impacts nearly every small business across the country. We plan to build and train sales people across the country to address an underserved market while providing them the means to fulfill the American dream. This is a goal we truly believe in.