The Five Minute Interview with Phil Dabbs, Head of Credit, Fiduciam
Fiduciam is a pension-fund owned bridging and marketplace lender to entrepreneurs and small and medium-sized enterprises. Granting business bridge loans to provide working capital or to finance expansion plans, standard rental loans to landlords who wish to extend their real estate portfolio and permitted development loans, to contractors and developers for straightforward construction projects. With its flexible, efficient and competitive approach to lending it helps small and medium sized businesses grow and prosper.
We speak to head of credit, Phil Dabbs:
What is the best thing about being in the bridging & development finance business?
Each day is very different with a huge variety in transactions, particularly with the different jurisdictions we are lending in, be it straight forward bridging and development loans, business loans or cross border transactions. The thing I enjoy most about working at Fiduciam is looking at the best way to put these deals together and sorting out any problems that occur along the way and seeking ways to make improvements to the current process.
What keeps you focused?
The challenge. We are a multi-national, efficiently funded lender that is entrepreneurial, with big growth plans to become one of the leading lenders. I am focused by the desire to improve the quality and service that we offer in order to ensure that we reach our goals.
What qualities do you look for in your employees or colleagues?
Enjoyment in their work along with the willingness to always better themselves, be it on a technical basis, their ambitions or the service they offer. You want them to feel part of something special and feel like they can contribute to this.
Are you an optimist or a pessimist?
What did you want to be as a child?
Well like any young boy growing up I wanted to be a footballer, but in reality that was never going to happen, I also always had a fascination for being a Formula One driver. My interest in property and the economy was really driven by my degree in Business Economics and inspired me into the mortgage industry.
What will be the greatest challenge facing the bridging & development finance industry in the coming months?
It depends; for each lender it will be different. The biggest thing is competition, with so many lenders out there at the moment each trying to offer something different and unique. It could be a defining year and what will be interesting is if any more lenders fall away and if indeed mergers and acquisitions are really the way forward to grow a loan book and take a larger market share.
Who or what makes you laugh?
You can’t beat some of the old classical comedies on UK Gold!
Do you dread Monday mornings?
No start of a new week and fresh challenges!
If you could change one thing about yourself, what would it be?
Be younger again!
With whom would you most like to have dinner?
Anyone who’s paying!