1. How important do I expect the government stimulus plan will benefit my business.

This is a very difficult question to answer. It all depends upon how the government distributes the money. If they continue to give big business hundreds of billions of dollar and not be accountable I think it will not be good for us at all. The key focus of the government is to create jobs and get the economy stimulated. I believe they need to give small businesses tax incentives to hire people. Tomorrow they could put millions of people to work by just giving small business a tax incentive of 50% of all new salaries paid out. This would lead to billions injected back into our economy, but most  important the perception of doom and gloom would end and businesses will start to expand and that will have a direct  benefit on our business.

2. How has the economic upheaval and credit market change affected your business Model?

I have been in this business for over 25 years and have experienced many bad economies. There was a time in the 80’s that the prime hit 22%. I remember also in the late 80’s the S&L debacle where almost overnight every S&L in the country collapsed. I remember the tragedy of 9/11. In all of these cases the whole country was thinking “Doom and  Gloom”. Businesses were closing and tens of thousands of people  were laid off weekly. In all of these economies my company Global Financial prospered because it was my felling the United States of America was not “Going Out of Business” In each economy there are always winners and losers and in all cases  they need money. I believe if you stay in this business long  term you must shift your business model to the needs of the economy. I learned many years ago that just being in the leasing business alone is not very healthy. Businesses need different  sources of money at different times. During the 9/11 debacle nobody was getting equipment but they needed to replace their working capital lines of credit because banks were putting companies in default on a wholesale level. That year we made money hand over fist and working until 11 pm or later every night processing lines of credit we were able to provide. Our rates were much higher than banks but who cared because the alternative was far worse. I could mention more stories and examples but the bottom line is you need to stay mobile and  shift your thinking to the needs of the clients you serve in any economy.

3. What would I tell a kid who said Mom/Dad I want to be in leasing just like you?

I would tell them that’s a great choice. In the over 25 years I have been in this business I have not seen any other business that affords the opportunity that our  industry has. I believe in the United States of America— and I believe our economy will continue to grow, and as long as that remains to be the truth businesses will grow and our services will always be needed.

Debt restructuring is exactly what it sounds like; Taking an existing loan of some type and refinancing it under more favorable terms. This can be a bit complex because a business person needs to clearly understand their objectives in considering a debt restructure. For example, a longer term loan on a piece of equipment that has significant useful function with lower payments may be advisable even if the interest rate is considerably higher. Conversely, high interest rate loans during periods of recession (NOW) may be restricted with no change in term, but significantly lower interest. The key is to understand the loan being restructured and what your business objectives are at the present time. Loan restructures can be of almost any size since the applicant has already been approved for the loan and finding the right deal is the time consuming element.

With the current business economy, there are many opportunities for healthy companies and individuals to
acquire other companies at bargain-basement prices. A business person can acquire companies by leveraging or refinancing the assets of the company they want to acquire. In simpler terms, they can buy the company with the company’s own money, while expending very little cash of their own. This is a very active
and lucrative market. In fact, many huge companies have been formed over the past decade using this method of financing. By seeking one lead purchase in an industry the buyer is then able to attract other acquisitions in the form of whats called an “assemblage”. The initial transaction may be asset based while
subsequent transactions can be publically or privately financed.  These types of transactions may be somewhat limited in size at first, but once the initial round of financing is complete and the first acquisition is made it is very common for these transactions to exceed the tens of millions of dollars.

Their loan portfolio is amongst the broadest in the nation including equipment leasing, accounts receivable financing, sale and lease-back programs, business acquisition financing, debt restructuring, commercial bridge loans, church financing, medical practice acquisition financing, working capital loans, specialty truck financing, and credit card advance lending. Mr. Dushey believes that to be competitive in today’s rapidly changing financial climate a company must be able to service all of the client’s needs, not solely equipment leasing.

In 1989, Mr. Dushey saw a need for a company that would serve the financing needs of churches, synagogues, mosques, and other places of worship throughout the country. At the time, most financing sources were reticent regarding religious institutions. He formed Global Church Financing which rapidly became the nation’s leading company in providing financing to localized churches and other religious institutions. His company reaches thousands of religious institutions each year.

In 2003, Mr. Dushey fulfilled one of his lifelong dreams and formed Global Broker Training Systems. GBTS trains individuals how to enter the lucrative field of commercial finance through a comprehensive course that provides its students with all the knowledge they need to become successful commercial loan brokers. This course not only trains students, but more importantly, qualifies their students to become approved by major lenders throughout the United States in many diverse niche lending categories. GBTS graduates literally “own their own finance company” having completed the course. The program includes everything a person needs to enter the prestigious field of “commercial finance”. Unlike many companies that provide limited trainings or are “only” in the training business, Mr. Dushey has based his curricula on 30 years of actual “in the trenches” experience making thousands of commercial business loans to all types of businesses throughout North America. Global continually updates its trainings and today offers the most comprehensive marketing training in the industry incorporating the latest technologies available to commercial loan brokers.

All of his companies expansive line of credit products evolve with the times and have remained literally recession proof even in today’s volatile market conditions.

A member of the Eastern Association of Equipment Lessors, Equipment Leasing and Finance Association, National Association of Equipment Leasing Brokers and the United Association of Equipment Leasing, he serves the industry on numerous committees and boards.

Phil and his wife Laurie have been married for 39 years, with three children and six grandchildren.

2. Get clients. In any business you must have clients to make money. We will teach you all of the tried and proven methods that Global, as well as many of the leading financial institutions, have used for years to target and get clients. You will have the ability to put together a well-balanced advertising program and pinpoint the type of clients you want to reach. Never before, in the history of business, has it been easier to reach large groups of potential clients. The Internet has changed the playing field and we take full advantage of that incredible tool.

3. Analyze and fund transactions. One of the most important things you need to know is how to understand your Clients’ financing needs. We teach you how to properly analyze and package a transaction for funding sources in the exact manner which they expect from qualified knowledgeable professionals. If your transactions are presented properly and fit the criteria of the funding sources, you have a higher approval and funding rate.

4. Know your lenders. This is where true “in-depth knowledge” would take the average person years to find out. Knowing who the national funding sources are and what types of loans they specialize in is critical and invaluable knowledge.

During our training you will actually meet, face to face, lenders across the widest possible spectrum of business needs. You will have benefits and programs I never dreamed of 25 years ago….even last year. The lenders constantly adapt to current business needs and you will hear, first hand, about their latest and most successful programs. More important you will obtain, upon completion of our course, a certification making you immediately approved to do business with these lenders. This is something that took me years to accomplish and it a key to my success. If I know what my lenders want to approve, I can easily target those business prospects and get extraordinary turnaround on approvals. And that’s good for everyone…the lender, your customer and you!

5. Make money. Nothing is more motivating than making money, and if you follow the Global training program your success is enhanced. When you begin making money shortly after our training, you will have greater confidence and be highly motivated to go out and make more!
If you’re ready to own your own business, contact us today. You’ll be your own boss, but you won’t be alone. Our professional staff will be beside you ensuring your success with training, encouragement and support. Your success is our success and I wish you the best possible success going forward in your life.

Phil Dushey
Founder & President

Sun Setting on the Statue of Liberty

The View from Global Finance at the foot of Downtown in NYC’s Financial District overlooking New York Harbor and The Statue of Liberty.