Behind the Curtain of Business Finance Corporation

Photo of David Cabral

This newsletter begins the seventh year that Business Finance Corporation (BFC) has been providing monthly tips and articles to help our clients with their business decisions. Many readers have met David Cabral, President of BFC, but not everyone knows his experience and how he got to where he is today. So, we thought that we would share a little insight into the man behind the company.

David Cabral was born and raised in a tiny town in Cape Cod, Massachusetts. He moved to Las Vegas in 1976, after graduating from Northeastern University. A longtime family friend, who had been in the entertainment business since the 1950s, touted Las Vegas as the place to be with many opportunities. As it turned out, he was right.

David began his professional career as a teller at Nevada National Bank and worked his way up into operations. In 1979, he left banking to train with New York Life to become an insurance agent.

Also, in 1979, David was invited to join the Paradise Chapter of the Rotary Club in the Paradise Township of Clark County. Over the years, his membership as a Rotarian played a significant role in his success as a businessman. The Club’s dedication to the community and the camaraderie of the membership is what drew him to the organization and what keeps him involved today.

“Rotary played a big role in my life in terms of my personal growth and learning about boards and board management, public speaking, and leadership. Being a member and having a profile in the community brings opportunities,” David explained.

One opportunity knocked on his door in 1982 when a group of businessmen from California came to Las Vegas with a new banking concept–of building a business bank. They formed the American Bank of Commerce to focus on banking services for businesses. Another new concept to the banking industry was David’s title of Business Development Officer. “I was the first banker ever to go out, call businesses, and say we want your business, and we just do businesses.” He became so successful that he was able to build a marketing department.

Banking and the Rotary combined to create another opportunity in 1995 when David bought his first company. The owner of Commonwealth Mortgage Company was a fellow Rotarian who trusted David enough to switch his banking business to American Bank of Commerce. But he was also ready to retire and thought David would be the right person to take over the company.

“At the time I bought the company, it was a really small lender, making hard money second mortgages on houses to people with bad credit. But, by the second year, I had transitioned into doing land loans for developers and was very successful through the boom years. At one point, that company was at its largest with $135 million in loans.” That all came to a screeching halt with the recession of 2008. Today, David still has about 30 properties that he foreclosed on during that time.

However, despite the recession, David found opportunity once again in a new type of business—accounts receivable factoring. Business Finance Corporation is a company that was started in Seattle by a man named Jim Trevino and then sold to a bank. In 2001, he restarted the company in Las Vegas and ran it until the recession hit, when he sold off the portfolio and closed the business. In 2011, David teamed with Trevino to restart the company, and in 2013, David and a friend, who is an investor, bought the company.

“As a former banker and mortgage lender, I truly believe in the business model of accounts receivable factoring. Our clients are very successful in their business. Still, they often find themselves with a lopsided balance sheet, showing a lot of receivables from sales and very little liquid capital. They don’t need loans with high interest rates; they simply need to collect the money they have earned. We help them out by advancing cash on those receivables for a small percentage upfront fee. And, we even help them with the collection process if they want.”

David is modest and hesitates to comment on the reason for his success, but if you ask his clients and associates, it is based on his reputation of honesty and integrity. He also believes in giving back to the community. Whether it is through fundraising and volunteer work with the Summerlin chapter of the Rotary or his board positions with Nevada Public Radio since their beginnings in the late ‘70s.

Today, Business Finance Corporation (BFC) is the only locally owned accounts receivable factoring company in Nevada that offers services to a broad range of industries. David’s keen eye for opportunity guides BFC’s business practice and helps guide his clients toward success.

Business Finance Corporation; your partner in success.