David Gens

BC Business Magazine - - Entrepreneur Of The Year 2018 -

FOUNDER, P RES­I­DENT AND CEO, MER­CHANT AD­VANCE CAP­I­TAL

“It was al­ways a ques­tion about when I would start my own busi­ness–not a ques­tion of if,” says David Gens. His fa­ther, older brother and un­cle each owned com­pa­nies and served as early role mod­els for him. He al­ways thought it would be more re­ward­ing to run his own en­ter­prise than to work for oth­ers.

After earn­ing a fi­nance de­gree from UBC'S Sauder School of Busi­ness in 2009, Gens was work­ing as a pri­vate eq­uity an­a­lyst when he read about com­pa­nies in the U.S. creat­ing what would be­come his busi­ness model for Van­cou­ver-based Mer­chant Ad­vance. Small store­front busi­nesses like hair sa­lons and auto re­pair shops of­ten strug­gle to find fi­nanc­ing. Gens's firm of­fers these com­pa­nies loans and col­lects on them by tak­ing a por­tion of daily debit and credit card sales. Mer­chant Ad­vance, which now has 50 em­ploy­ees, has pro­vided work­ing cap­i­tal to more than 2,300 Cana­dian small and medium-sized com­pa­nies. –D.H.

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