Joel Schaubel is LMN’s Senior Vice President of Lending. He joined the company in September 2021 to lead the software platform’s growing lending business, including LMN Lend. He brings more than 25 years of sales, marketing and leadership experience across the landscape and construction industries in Canada. He brings a track record of helping companies grow while helping solve challenges for contractors at companies including RodRadar, Powell Foundations and Toromont Cat.
What brought you to LMN having been more on the manufacturing side for most of your career?
I’ve worked in the equipment and manufacturing industry for a while. I know the pain points and challenges contractors face. LMN is building something so cool that goes beyond just software. The whole idea of this company is to innovate and disrupt the industry by making the lives of hard working men and women in the landscape industry better everyday.
LMN Lend is the next big concept that Mark Bradley and the LMN team generated. I was hooked the moment they shared their vision with me.
So tell us about LMN Lend.
It’s a great new offering, connected to our software, and the best part is it’s easy to use and we provide support all throughout the process for landscapers.
We know that access to capital to fund growth can be tough for companies, especially small business owners. Lending is not easy. Math can be hard, and there are so many products on the market today that can leave contractors spinning.
LMN Lend is designed to solve this by creating an experience unlike anything in the industry.
Tell us how it works?
So if you’re a contractor or business owner and you need new equipment or a building, you would traditionally go to a bank or a credit union for a loan, or finance equipment through a dealer.
All lenders will offer different rates and requirements, based on your situation. How much cash you have on hand, years in business, etc.
LMN Lend takes the hassle of going in person and shopping for rates out of the equation. Through a five minute online application, your request for funds goes to hundreds of banks across North America.
They then come back to us with options, and our lending team meets with you to figure out what’s best for you.
If you meet our simple criteria, you can get access to your cash in days, helping you get that equipment or start payment on a new building to help you grow. Our team brings decades of commercial and consumer lending experience, and we’re a resource for you, connected to the LMN platform.
How has LMN Lend been received?
We introduced LMN Lend in early October, and it has been received well with pure positivity. We received more than 50 applications in the first week, and the service’s demand continues to rise. We’ve hit a good pain point for customers who want to grow their business. We’re here to help them develop and grow their business, figuring out what the next big steps are for them.
Can you fund any season? What about the upcoming winter season?
Growing your business is a year round venture. As winter and snow season are kicking off, now is the time to invest in equipment and products like salt and de-icing materials you’ll need in January and February.
We’ve written an eBook on having a healthy cash flow for snow season that business owners in the snow and ice management industry would find helpful and insightful. You can download the ebook for free here.
Where can I go to learn more about LMN Lend?
Check us out at golmn.com/lend, or email us at lend@golmn.com and our team will be happy to answer any questions.
