Nelson Asaba is a Treasury Manager here at Builders Capital. He joined the team in September 2018 and has been instrumental in our growth. Here is more about his story below.
Tell us more about you, Nelson…
I was born and raised in the Seattle area. I went to the University of Washington (Go Huskies) for both an Economics degree and an MBA. I’ve worked locally in banking on both the Operations and Credit sides. In addition, I’ve worked on a FP& A team in the healthcare industry.
What made you decide to join Builders Capital?
While working at a local bank, I crossed paths with Builders Capital. I was intrigued by the unique business model that leveraged their ability to obtain bank financing to provide competitive rates to home builders. What’s notable about this is that there are a couple of hurdles for home builders to obtain bank financing. First, you need to have a healthy balance sheet and adequate cash flow, and secondly, the process to get approved for a bank loan can be glacial. Builders Capital fills the void in financing home builders with a quick approval process. When one of my current teammates referred me to Recruiting, I jumped at the opportunity, and the rest is history.
What role did you start in when you joined the team?
When I first joined Builders Capital, I was a Credit Officer (underwriter), which gave me great perspective in learning the business from end to end.
What role are you in today?
I moved into a hybrid Treasury/Underwriting role in 2019 and moved into a full Treasury role at the end of 2020.
What are your main responsibilities in your role?
My focus is to ensure we have adequate capital to originate the loans that we have in the pipeline. To do this, my team and I trade loans that we’ve originated with our capital partners. I’m hands-on with the team to ensure the loans are set up correctly and leverageable. Other priorities are business planning, forecasting, and maintaining the sales model used for all of the loans we originate!
Since you have joined Builders Capital, what are some of the key differences you have noticed between working in traditional versus private lending?
We have in-the-box solutions for borrowers, but are happy and willing to push the boundaries for decisions that mutually beneficial for the home builder and Builders Capital. We have great flexibility in the capital that we have access to, which allows us to find a solution for almost any scenario. Additionally, Senior Leadership is easily accessible to review and provide perspective on various loan scenarios.
What is something you enjoy most about being at Builders Capital?
Everyone is motivated to do the right thing and work together as one team. There’s lots of trust in the team all-around since we do move quickly. Everyone is invested in the company’s success, but also our borrowers. It’s refreshing to be a part of such a dynamic group.
What advice would you give to someone looking to work in private construction lending?
The US has a housing shortage of several million homes. The law of supply and demand can be seen and felt as home prices continue to climb. Builders Capital is a solutions-oriented company that provides an outlet to increase the number of homes constructed each year. This is an opportunity to leverage your experience and add value across the nation by supporting small and regional home builders and add value not only to your local community but the nation by supporting small and regional home builders.
Fun fact about you?
Back in 2011, I played on a tennis team that ended up winning a national tournament!
Anything else you’d like to share?
We move fast and embrace change, leading to an engaging environment that allows for impactful decisions to be made by everyone on the team. Each day brings on a new and exciting challenge. If all that sounds good, then Builders Capital is the place for you!