Financial Franchise Lending Introduction

Lance Hood (FranPro) 0:09

Hi everyone . I would like to introduce you to Dan Pace , the founder of First Financial . Dan , welcome .

Dan Pace (First Financial) 0:17

Thank you , Lance . It's a pleasure to be here and looking forward to it .

Lance Hood (FranPro) 0:21

Well , for anyone who's not familiar with you , can you share a little bit about First Financial and how you guys got started ?

Dan Pace (First Financial) 0:27

Sure , I can . I'll try to go as quickly as I can , but there's nothing I like talking more about than me and my company . Obviously , first Financial started actually it's been 25 years , but it's really been 30 years . I started as a smaller entity in equipment leasing arena back when I was an entrepreneur in the fitness industry . So I started my own direct leasing business and for five years that's all we did was equipment leasing , and we still do that today .

Dan Pace (First Financial) 1:01

Believe it or not . It's always been a wonderful program to help people who need vehicles and extra equipment . But after that period , a lot of people started wanting to borrow just money . Unfortunately , I didn't have enough money back then to just loan people money . So we actually hooked up with the SBA because I was working for a major bank at that time as well and we learned everything there was about SBA and conventional loans and we became a preferred lender of SBA and an SLO , which packages loans .

Dan Pace (First Financial) 1:39

So we had every product in place and , like I said , that was 25 years ago . It was just like yesterday . But we've put a couple billion dollars of funds out on the street for startup businesses or resale of businesses . So First Financial is really known for its SBA . Nowadays it's equipment leasing and we're very franchise and I'd like to say consultant coaches , driven through different organizations , because that's where most of our business comes from , and the secondary market is really just its referrals , because we've done a good job with somebody and they said call Dan or call Karen or call whoever at First Financial and they'll figure out how to get your loan done for you . So that's kind of a short story at First Financial how we got started and I hope that works for everybody .

Lance Hood (FranPro) 2:38

Well , perfect , and what would you say ? That makes First Financial different from other franchise lending platforms ?

Dan Pace (First Financial) 2:47

Okay , you know it's a good question . It's sometimes it's challenging for me because I don't look at other organizations as a competitor . There are in any given year and I know this is hard to understand , especially in the SBA . You know , with all the lending institutions are out there . There's $100 billion a year that goes out in SBA financing . There's some , there's lenders out there , the big lenders that everybody knows because you bank with them . They do $3-4 billion a year themselves in loans for people and businesses .

Dan Pace (First Financial) 3:27

But I think where First Financial has fit is we have our niche market . We know what we're good at . I'm not going out and doing these $10 million projects . That's not what we're good at . We're good at the you know up to $4-5 million type of projects , but our bread and butter is that $3.50 to $5.00 range and then the smaller express loans . But what makes us better is the fact that you know we have 150 years of experience within my office in the banking and finance industry . We have another 50 years of accounting background either in CPA , forensic accountant , public accountant . So my staff knows everything that there is to know about what we do and know what . And we also find out and we know about what the franchise wants . We ask them what kind of program do you need ? We structure programs for each individual franchise that needs something special . If they need six months interest only , then we're going to put a program together that's going to give them six months interest only If they need nine . If they don't need any , maybe they just need a small express loan . We work one-on-one not only with the client but with the ZORs to make sure that it's a right fit for them and it's a right fit for us , and I think that's the special thing about it .

Dan Pace (First Financial) 5:05

You call here , somebody picks up and talks to you . We don't wait three days to call you back . If they do , I guarantee you they won't be here the next time they call . If I find out , I'm a really driven , organized person and I want my staff to be the same way , and they are .

Dan Pace (First Financial) 5:26

It's a big thing for people . I don't care if you're it's new , if you're going out and opening a business . It's scary for people . I want to take that scare away and know that you're financially going to be able to handle it and support it , and that's what we do here . We're just not the guys who want you to money . Never talk to you again . We're oriented , we're driven and you know , I have a famous saying if if somebody asked me to go a mile , I go two miles just to make sure it's right , and my staff is the same way . And I think that's what puts us not above anybody else , not better than anybody else , but puts us where we're at today , and still in business for 25 years and billions of dollars of loans funded . I tell people it can't hurt to try us right . We're here if somebody needs us . That's my scenario on why we're who we are .

Lance Hood (FranPro) 6:32

One of the things that I wanted to talk about that you brought up there which is , I think , extremely important and I really don't hear about it in other places is putting interest only payments up front , so that you give the business owner a chance to get profitable , because when they first start out they're going to run into that period of time where they have less money coming in from the business because it's new and so at that time you actually have lower loan payments just to get them through that gap . Can you talk about that , because I think that's important ?

Dan Pace (First Financial) 7:03

Sure , sure , we just recently well , it's been a while , but recently . To me , let's say the last 12 months . Before I break programs , I like to test them in the marketplace . So , in other words , I don't want to go out to a major franchise or whoever it may be and say , hey , here's a program , let's run with it . We kind of shoot , we kind of get clients and we test it out and it worked well .

Interest Rates and Loan Programs

Dan Pace (First Financial) 7:31

As we all know , interest rates are high right now . They're not historically high , but they're high . And I called it when I put this in place , I called it as a way to get the people off the wall . Okay , your average newbie guy who's out there is like God . Now what do I do ? The interest rates are going up . I really want to start this business . So I call it setting on the wall or setting on defense kind of wait to see what's going to happen .

Dan Pace (First Financial) 8:00

The nine months , the six months , nine months , whatever we put it in place , let's talk about the nine , because that's what everybody's been doing lately . We call them the dream loans . It gives people time to build the business and it saves them a substantial amount of money . They're giving an example if we did a loan for $350,000 , okay , and we give them nine months of interest only . It's a 120 month term loan . We're going to give you nine months of interest only and only on what you borrow during that nine month period . So if you're doing a construction loan for your building that you're opening and you only borrow $100,000 , you only pay an interest on $100,000 . It's pretty simplistic when the equipment comes , then we finance that , then we pay on that . So but when we , if we were to run it as a total , it saves you about $14,000 in monthly payments during that first nine month period and it varies with the size of the loans . We do the nine months of interest only for any loan , from $250,000 up to one million dollars .

Dan Pace (First Financial) 9:17

And when you start really crunching the numbers , lance , $12,000 is a lot when you're a new business , $14,000 is a lot when you're . Even seven or eight thousand is a lot when you're in a new business . And it gives them the time to do what you said it . It gives them the time to gear up the business in case something doesn't work . Maybe your marketing was wrong one month and you didn't bring in the business that you thought . You at least know that that payment is staying there and it's an interest only and there's extra money for you to use to build the brand .

Dan Pace (First Financial) 9:57

And you know , I have a funny saying . I tell people when I talk to them all the time listen , if you can't at least break even at the end of nine months paying interest only , something's wrong . Where did you go wrong ? And if you get to me at month six , we can figure it out . You know , but if it's a franchise , your franchisor should be there to help you figure it out , because they want you to profit too . But that loan has been a real driving factor in the last six months . It's that $350,000 to a million dollars . It's probably up about 22% in my portfolio where more and more people are coming and taking advantage of us . So it's exciting . There's nothing better than seeing somebody that opens their business and starts to make money and says to us thank you for the night . Much interest only because it put us where we needed to be . So it is fantastic .

Lance Hood (FranPro) 11:02

You can't go wrong by having extra capital , you know . You just don't want to have too little capital , for sure .

Dan Pace (First Financial) 11:08

That's for sure and I will never let that happen either . I'm a big fan of reading FDDs and just because an FDD says you need X amount , once we chat anybody in my office , once we really chat and go through it , if I see that you need more working capital to operate that business , we're going to put it in your loan for you . We're just not . We're just not going to stay in that box if we feel it's going to cost you more than what the FDD said .

Lance Hood (FranPro) 11:40

Well , you talked about multiple products . You know , from equipment leasing to SBA loans and stuff . Can you kind of list out the the general products you have and why people would pick each one like what would ? What would make sense to have this kind of product versus this ?

Dan Pace (First Financial) 11:55

Okay , we do a lot of different things SBA .

Dan Pace (First Financial) 12:00

Let's talk SBA first . I'll just briefly hit on each one . The lenders can pick names for whatever they want . We can call any loan product what we like to call it , but they're all a product of the 7a SBA loan programs . Okay , be it the Express , be it the Dream , be it the Big Ticket . The only other different SBA loan is a 504 , and a 504 is basically for the purchase of the real estate . You want to move your business into it , or you want to open a business and buy the building or ground up construction . I'm seeing a boom in that , I'll be perfectly honest , because people are tired of spending some big money for building out other people's locations , obviously . So we have those programs all in place .

Dan Pace (First Financial) 12:54

We're primarily known for the express loan . The express loan is just a quick , simple product and if I look , let me , let me take one little step back . I try to mirror what I do with all these organizations I belong to , and if you go to any of these organizations the coaches , the consulting organizations they have a stable 5600 franchises . I have a stable 5 or 600 franchises that we work with and when you start looking at those numbers , 60% of them are franchises that you can get into via either home-based business or a small warehouse or whatever you may need . That only cost all in $150,000 . That program has been a bread and butter program for startup businesses . Give an example last year 2022 , I just got the numbers . I think we discussed it before I believe it was $57 million in express loans that we funded . That's 100 to $150,000 loan . $57 million of those , that means we put 560 some people startup businesses in business just in 2022 . It's a fantastic product . They're all 10-year terms . There's no prepayment penalties . It puts people in business . The best part about it is it's not a lot of debt service for people All in . They're giving an example it's probably about $22 , $2300 a month your debt service to open up your own business . It's minimal monies . That's one of those programs that drives the business .

Dan Pace (First Financial) 14:49

We found that there's another 40 or 50% of franchises that cost more money . They go anywhere from $250 to $350,000 . Thus that reason we put that dream loan together , that dream loan from $250 up to $350,000, . Not only do you get nine months free of interest , only not free . I should say To me that's free . The way I look at it , when I started my business , nobody gave me nine months of interest only . You have nine months of interest only setting there . It's a 10-year term . Once again , no prepayment penalties .

Dan Pace (First Financial) 15:30

There's no collateral . There's no collateral on the express . There's no collateral up to $350 . What collateral means , lance , is real simple . I'm not taking your house that you're setting in right now and putting a lien on it . I'm not taking anything but your personal guarantee and putting a lien on the business . It's unsecured moneys up to that $350 number . To me , that's unheard of , especially in this environment .

Dan Pace (First Financial) 16:00

This is a tougher environment . Everybody knows that Some lenders are not lending for all different types of products . We're aggressive , we know our brands , we know our clients , we're helping . Those two products have just been skyrocketing because you don't have to go to your wife and say , yes , sweetie , I want to start this business , but they want to put a lien on my house our house , so to speak . I shouldn't do it that way , but I like to have a sense of humor . That product has been another game changer out there .

Dan Pace (First Financial) 16:39

Now , when you start getting over that , that's when we start looking those bigger ticket loans . We start looking for some collateral outside . But it really depends on the franchise . If you're buying a franchise that has an X amount of equipment with it , that becomes collateral , so that's a different story . But if you're buying a franchise that virtually has no equipment , then we're going to look for a little bit of outside collateral . But if you don't have it , that doesn't mean that you're not going to get a loan or you just follow the guidelines that the SBA puts in place .

Dan Pace (First Financial) 17:15

But those three products , four products , are SBA . We also look at conventional loans , but conventional right now are a little tighter to do and most of what I'm doing on the conventional marketplace is real estate People wanting to buy a building and don't want to go SBA or don't really qualify for an SBA because the business is bringing in too much money . But that product will come back eventually when rates start coming down a little bit . Along with that , we have our own , my Franchise CPA Group that helps people incorporate , can help you with your taxes , can get your licensing , your permit , can do all of that for you nationwide . That was something I talked to franchise ores about and they said people need help . And believe me , once again it all goes back to that philosophy that we're there to try to take some of that tension away from people . I always encourage people to go to our website I'm sure you'll have it posted somewhere , lance Just because there's so many things we do do . We even have a credit restoration department . We have a holding , an investment department . We have a rollover department if somebody wants to touch their retirement accounts and roll out .

Dan Pace (First Financial) 18:37

My background is more in the equipment leasing and the SBA side , so I'm a firm believer of I bring in the people that I need to bring in to be able to handle all the products . Thus , when I said earlier about the years of experience , there's really a lot more years than what I'm saying , but you know , I think we talked about this too , lance . My wife doesn't allow me to say how old she is , so I can't add her years in but it's all about putting products in place that are going to help people get in business . That's what it comes down to and the more things I put out there . I honestly don't believe there isn't anything I don't have there that , even if you don't want to do along with us , you still have our CPA group you can work with , or vice versa . You don't have to use anybody we have there , but it's there as an added tool to help somebody become successful in their business .

Lance Hood (FranPro) 19:38

Right and we'll definitely send people . There's a link next to this video . You can click on and go right to First Financial's website . We'll collect everything and connect you with the right people . I have worked with Dan and Karen and the people over there . They're wonderful . The one thing I want to talk to people is when I would work with a new client they were just like well , I'm just gonna work with my local bank and I just found that people don't have the success and they don't understand . They think a bank is a bank alone , is alone . I've worked with these people and my bank always says yes , of course we can do that , of course we can do that , and then at the end of the day , it doesn't actually

Understanding Franchise and Retail Banking

Lance Hood (FranPro) 20:18

happen . Can you speak to the difference between franchise , specific funding people that do this day in , day out and your traditional local retail bank ? Sure .

Dan Pace (First Financial) 20:28

I didn't come from the retail side of banking . I've always been in what we call the wholesale side , that's the loan origination side . I'm not one of these guys that cares if you open up a bank account or use our credit cards or do that type of thing . But what happens is retail banking is designed for certain types of products . Just like I have my products , retail has their products . I don't give you know . We all we look at origination for loan on the retail side . They're looking for your checking account , they wanna give you a credit card , they wanna do your mortgage , they wanna introduce you to their investment groups so you can invest money in their bank .

Dan Pace (First Financial) 21:12

Very few lending institutions and I don't care who you go to or whatever the size is actually has a person inside the bank that does SBA loans or really conventional loans . It's all done outside because that's not what your local bank does . Now , I'm not saying a local bank won't give you a loan , but most of them don't even specifically deal with SBA loans or conventionals and a lot of them do not do anything or understand franchising . So they don't look at it as we do because we have that relationship with the franchise or and the other thing is they don't like startups . A startup to me is a newbie . In case people don't understand , that means you just wanna go out and start a new business and you've never owned one . You're a startup person and you need extra help to get that business up and running . Most lending institutions don't like to do startups . Even though the SBA is designed for that . That doesn't mean that a particular lending institution likes to do them . A lot of them only do existing businesses . And the other thing that I find interesting is not everybody likes every business . You could walk into your local bank and they love the restaurant business , but they're not doing a gym or they're not gonna do a car deal or they're not gonna do this . So it's being specific and what I do and what a lot of other companies do is we're not brand specific . We have the franchises that we work with . We bring in new franchises every month . Whoever wants to be part of us . We vet them , make sure that there's somebody that we want to work with and we understand that process . We understand what it is that local bank .

Dan Pace (First Financial) 23:11

I gotta be honest , I did the same thing . I went to my local bank when I went to open up my first fitness center , I didn't get a loan . The only way I got my loan is my dad had to sign for me and I was quite young back then and I still didn't get it from our local bank , so it really was going out there and I had to find a lending institution that was familiar with my industry and was familiar with doing startup businesses , and it wasn't an easy task . That's why I laugh . I paid 20% interest back in 1984 when I opened up my first franchise , and I was happy . Nowadays nobody's paying that rate . But I went through that same process and taking that process made it easier . I now make it easier for everybody else because you don't have to even leave your house .

Dan Pace (First Financial) 24:07

Everything is done the speaking on the phone , doing Zoom , like we're doing right now , or DocuSign , because we're nationwide , so I'm not seeing everybody other than maybe on the screen or talking when you're with your local bank . It's a hit and miss and the thing that bothers me the most is because they go to their local bank and get declined . They think they can't get a loan somewhere else . Please don't have that misconception . That just means that a bank , that institution , doesn't like what you wanna do or doesn't understand what you wanna do . There are plenty of lending banks and lending institutions out there . I'm not just plugging me , but there's plenty out there that are willing to look at startup businesses . You just gotta do your due diligence .

Lance Hood (FranPro) 24:59

Right , yep , and looking at what they'll accept and what they won't accept . You just gotta work with the right people who are looking for what you have and what you're trying to do .

Dan Pace (First Financial) 25:11

Yeah , it's all about packaging . My answer is the word that banking institutions . You have to be able to put everything together in a neat , readable fashion , let's say so it does get approved . That's one of the things that we do . We spend that time and it's called packaging . Packaging and making sure everything is correct and everything is signed and everything is done before it's submitted to credit to Underlight .

Lance Hood (FranPro) 25:42

Well , do you have some brands that you can share with us or some stories about how you've helped some brands really take off , because some of them all start with a few units but then with the right lender team , because you're really part of a team right , we have the franchisee and , whether or not they're working with a consultant and the franchisee or in the lender , really everybody together is working together to help you vet this , make sure it's right and get you what you need to get off the ground and get going . But , yeah , so do you have any stories or brands that you guys have really helped ?

Dan Pace (First Financial) 26:20

I . There's multiple brands . I probably I won't mention their names , but you know I'm an emerging brand builder .

Dan Pace (First Financial) 26:28

I have some franchises that I'll give you a great one . This one I know I can talk about . I'm personally . My portfolio is in the medical industry . I do a franchise called American Family Care Urging Care Centers . When I started it was one location in towns in Maryland . With them we're up to 315 locations now . It's been about eight years , but we're on track for probably 500 within the next couple of years . And these are big ticket things . These aren't this you know . There are a couple million all in type of things . But then I've taken companies like , let's say , bio One , for example . They weren't even on the SBA directory . We got them on the directory at no charge . We went out there . They're at 5,600 franchises now .

Dan Pace (First Financial) 27:24

It's amazing what you can do if you know and I've always been a fan of it . Knowledge is a key to power . If you know something and you teach it to somebody and they use it , you just grow and grow and grow and there's nothing like taking a company that doesn't even have a franchisee yet they got one location open that's theirs . Just because they're the franchisor , it doesn't mean they understand everything about getting people loans and that's not their business . I don't understand everything about franchising , but I learned it as I learned the brand and to take an emerging brand and to get them even over a hundred locations and you know this because you're in the industry that's a great thing to do . I have brands that I've worked with over 25 years and have a few thousand locations open .

Obtaining a Loan for Franchise Financing

Dan Pace (First Financial) 28:20

The only thing I find is , once I start and we start building them up and they start doing well , they really don't need my money anymore my bank's money , let's put it that way Because they come financially successful themselves and they just don't need that type of lending , which is a great thing for them , but not such a great thing for me , because I don't want to keep lending to them . But yeah , it's such a wonderful feeling when you get guys and I just met with two new emerging brands this week Deli and an automotive oil changing company that we're going to bring in and I feel that I can build their brand if we can get the dollar amounts and everything set up right .

Dan Pace (First Financial) 29:08

Those are my next thing that I look at and say , okay , let's get these guys on the right track , let's put X amount of dollars aside , knowing that they're going to bring us in this business , and that's how I look at it , I spent the same time talking to franchise orders as I do with coaches . That's how I figure out what they need . You don't tell me you need 250 to open if it's really 400 . So we structure everything . Each franchise or has a different story and may need a different type of program put in place . Hopefully they don't all , but if they do , we're there to do it . So that's the best way to answer it for you is . There's so many out there that we brought to fruition , even ones that we brought to that have been purchased out after they've had two or 300 franchises . They're no longer owned by the same groups and that's a common practice in the industry . Now Some of these guys come in and buy out the successful smaller franchises and hopefully I get to continue working with them . So , yes , it's exciting .

Lance Hood (FranPro) 30:20

Well , last couple of questions . I think that would be on people's minds is can you walk us through just the major milestones of someone getting their loan from submitting things letter of intent and all that down to funded , just so they can get an idea what the process will be ?

Dan Pace (First Financial) 30:39

Okay , to be honest with you , lance , it kind of varies with the type of loan that they're looking for A basic , express loan . I can pre-qualify you in a couple of hours . I can actually physically approve you because it's all done with an algorithm program and , remember , it expresses that 150 . But we can approve you within about 20 minutes because it's done through a computer scoring system . Depending on if it's a home-based business or brick and mortar , it should close in no longer than 30 days . The funds would actually be wired into your account . The only thing that can slow it up is the time it takes you to go to your training , get your certificate and do all that with the franchise or side . We're constantly working with everybody while that's going on . The only other thing that can conteteer any loan , to be honest , is when there is construction involved . If we're doing build out on somebody's new business , we're at the hands of getting the permits from the state that you're in , getting the build out quotes . I like to tell people if everything was in place . I can approve you within four business days and close your loan within 60 days . Sometimes it happens it always happens in the express side quickly . That's why it's called an express loan because we don't have to get as much information . But when you start getting into the 250s , up into the millions of dollars , it takes time . But not to get pre-approved .

Dan Pace (First Financial) 32:22

I encourage anybody , whoever you're using , get pre-approved first and make sure it's a pre-approval , that somebody's underwritten , you know before you go ahead and pay Mr Franchise , or that you know that those funds are going to be available . You know what the down payment is . You know what the rate is . You know if there's any additional collateral . You know all these things before you make that decision . The way I like to say it is anybody who's ever bought a home . Usually , before you go out and start looking at homes , you do what you call your bank or you go to a mortgage broker and you get pre-approved for a certain loan amount . You do the same thing when you're doing a business . It's just a little bit different and a little bit quicker . You upload all your documents , we approve you , we issue you what you mentioned , that letter of interest . At that point . That's when you go get incorporated , that's when you give a deposit to your franchisor and we're working through everything here at First Financial we have what we call tech support people and relationship managers and they're with you from the first call all the way through to the monies wired into your bank account .

Dan Pace (First Financial) 33:38

On any of the loans that we do , we have our own construction department . We have our own fund control departments the same people that we work with . It depends on the loans , but normally expresses are 30 days . Dream loans up to 350 to non-collateral 60 days if you have a location . If you're still a lot of these people , lance , you got to remember we're pre-approving and approving and they really don't have a location yet . We might have to sit back four or five months while the franchisor physically finds a location for them . It could be longer than that , it could be shorter . That's why it's hard to pinpoint . If everything were to be in place , I don't care if it's 100,000 or 5 million . It shouldn't take more than 60 days to physically approve and close a loan . It falls back into everybody else's hands . That's the easiest way to explain it .

Lance Hood (FranPro) 34:41

As we look at those ideal timelines . I do know that when you work with the borrowers , the clients that are looking to get a loan , what they don't realize is they hear that 30 or 60 day timeline but they don't understand what you're saying . That's when they're turning stuff around to you , right , when you give it to them . If they take two weeks to turn a document around and you're at phase one of the process , they're not going to close in 30 days . That's like if they're sending it back the same day , the next day or whatever . They're staying on top of it . If they just go dark , don't communicate and they take a week to return stuff , not only is it going to take longer , but the bank is going to go . These people aren't really moving quickly and you're going to get pushed to the back of the pile and somebody else is moving fast , is going to get the juice .

Dan Pace (First Financial) 35:32

We look at it as they're not really committed to the project . I understand everybody has some wars , but we sent it out . It's not that much information especially for the pre-approval that you can't get it back If you're not interested in finding out if you're really going to be and I shouldn't say it this way , but it's the truth If you're really not interested in finding out what amount you can be approved for before you find a franchise , then you're not really interested in buying a franchise . It's how I look at it .

Lance Hood (FranPro) 36:07

Right , Because you don't know if you can even afford it . You're just looking at random things that you can't afford and that's not really like a process of buying something , Just like with a house . You want to know what's my number . I need to buy something for that amount or less .

Dan Pace (First Financial) 36:21

Yeah , I have to stay in that price range . You're absolutely correct . We try to educate people on that aspect of it . But everybody has their dream . I get it If I can make it work . I would make it work If I only qualify you for 250 and you go find a business for 500 , there's not much I can do , unless it's a resale and the owner wants to hold a note or something . That pre-approval really gives you the gusto to be able to say , okay , I can get any of these franchises because I'm already approved . I don't really Most of the time we approve you for what we believe you're going to , what you could qualify for .

Dan Pace (First Financial) 37:04

That doesn't mean you have to take that much . You might only want 150 , but you qualify for a half a million . At least you have an idea of what you qualify for

Stay on Top of Forms

Dan Pace (First Financial) 37:14

. If something does pop up , you are right , people get complacent . Our job is to try to stay on top of them without irritating anybody , because it's pressure form . But getting those forms , that's important , because they become outdated too . If you send me a PFS today and you don't move forward for 120 days , that PFS isn't good anymore . Now you've got to start the whole process all over again , we do try to stay on people . If they choose not to get it back to us , lance , there's not a whole lot we can do . We go back to the franchisor or the coach who referred him to us and said you might want to reach out to him and see what's going on . We're always in communication with somebody .

Lance Hood (FranPro) 38:08

Right . Thank you for everything you shared today , Dan . That was , I think , incredibly useful information and great insights into your company . For anybody who'd like to work with Dan or the team over at First Financial , you can just go to the link next to this video or go to Franpro VIP . Thanks , Dan , I appreciate you and thanks for the time . It was a pleasure .