MATH Briefing - 2nd Quarter 2015: Navigating the Capital Access Landscape
DescriptionSmall and Middle Market companies (those with revenues under $1 billion dollars) are key drivers of both job creation and economic growth. While there are multiple methods for these companies to access capital, ranging from bank loans to IPOs, the suitability of these methods will vary dramatically depending on the company’s size, growth, and industry. The options open to small and middle market companies, how they work, and whether there are any gaps are highly relevant in determining how policy can be changed to better enable businesses to access needed investment. This briefing will discuss the capital access landscape, the different options open to businesses, how they work and impact the companies that use them, and what else can be done to make it easier for companies to obtain the capital they need to thrive.
Daniel Gorfine is vice president for external affairs and associate general counsel at OnDeck, a technology-based company focused on transforming small business lending, and a Milken Institute adjunct fellow. Previously, he was director of financial markets policy and legal counsel in the Institute's Washington office, where he focused on financial innovation, capital access and financial market issues and led work on innovative capital access tools and new financial technologies. Previously, Gorfine worked in the international and litigation practice groups at Covington & Burling LLP, where he represented a wide range of clients on commercial litigation/arbitration, regulatory, antitrust and international matters. A graduate of Brown University, he holds an M.A. from the Paul H. Nitze School for Advanced International Studies at Johns Hopkins University and a J.D. from George Washington University Law School.
Todd McCracken currently serves as president of National Small Business Association (NSBA). McCracken became president of NSBA in 1997 and started with the association in 1988, previously serving as vice president of government affairs. McCracken represents NSBA before the U.S. Congress and myriad other settings. As director of its government affairs arm, McCracken plays a key role in developing NSBA’s policies on issues and the strategies in implementing them. Since coming to the association, McCracken has testified before Congress numerous times about issues ranging from fundamental health care reform to tax code restructuring. As a non-partisan organization, NSBA works proactively with elected and administration officials to promote policies that support small business growth and development. Founded in 1937, NSBA is the nation’s oldest small business organization. A native of New Mexico, McCracken is a graduate of Trinity University in San Antonio, Texas, with a B.A. in Economics.
Michael Weil is CEO of RCS Capital, where he previously served as president, treasurer, secretary and director. He also is a former president and chief operating officer for a number of the publicly registered, non-traded REIT offerings sponsored by AR Capital, the private equity firm of which he is a partner. Weil previously served as executive vice president of AR Capital, where he supervised the origination of opportunities for all AR Capital-sponsored investment programs. He was senior vice president of sales and leasing for American Financial Realty Trust, where he was responsible for the disposition and leasing activity for a 37.3-million-square-foot portfolio. Weil also served as president of the board of directors of the Real Estate Investment Securities Assn., a leading alternative investments group providing education, networking and advocacy for members.
Brian Knight is associate director of the Milken Institute's Center for Financial Markets. Knight is an attorney with significant experience in new sources of capital, financial technology and entrepreneurial issues. He is interested in the interplay of technological, regulatory and market innovation and how best to improve access to capital for businesses of all sizes. Knight has worked for a broker-dealer with a focus on the emerging online private-placement market and was the co-founder of CrowdCheck, a company providing due-diligence and disclosure services to companies and intermediaries engaged in online private offerings. He has also served as an attorney for the federal government. Knight received his bachelor's degree from the College of William & Mary and his law degree from the University of Virginia.
Doug Farren is associate director for the National Center for the Middle Market. He is an operational leader responsible for developing a ground-breaking resource center for middle market companies. He transitioned from a supply chain management career possessing a breadth of technical, functional, and management experience. During his 11-year career at Limited Brands he was responsible for supply chain planning, inventory deployment, and operational efficiency for Limited Brands International. He also managed distribution/logistics support for 1,700 Bath and Body Works stores, including direct-to-consumer, and served in other logistics roles. Farren holds a B.S. from Penn State University and an M.B.A. from Ohio State University. In addition, he is certified as a Six Sigma Black Belt in Transactional Quality.
For additional information, please contact Dianna Dunne, Director of Government Affairs, at email@example.com.