Darren Palestine

Managing Partner and Co-Founder, Commercial Finance Partners

40 Under 40 Category: Business Development

Darren Palestine is the managing partner of Commercial Finance Partners, a Florida-based direct lender and advisory firm.  Prior to joining Commercial Finance Partners in 2016, Darren was previously the director of sales for Crossroads Financial, a nationwide asset-based lender focused on Inventory and Trade Financing, from 2010-2016.  Commercial Finance Partners focuses on small-to-middle market debt needs through accounts receivable funding, inventory financing, and equipment financing, offering both credit lines and term products to its clients and referral partners.  Commercial Finance Partners is also one of the largest SBA loan originators in the country, with over 300MM of loans funded through SBA-backed lending institutions since 2016.  Darren attended the University of Florida, earning a Master in international business in 2009.   

How do you define a good leader?

Good leaders know when to lead and when to listen.  Far too many people think of leadership as being in charge.  In a leadership role at Commercial Finance Partners, the most important function I have is to listen and learn.  By listening to and understanding a different or unique perspective, I can further grow myself which, in turn, provides a better platform for me to lead.  

What advice do you normally give to the junior talent you mentor?

We have a core of young talent at Commercial Finance Partners and there are two keys I try to impress upon them: Find ways to stand out from the crowd and understand your audience.  On standing out from the crowd, this can be achieved through a combination of knowledge within your space and creating a unique pathway for yourself.  At CFP, we strive to earn new business through a knowledge-based approach; a holistic understanding of what the client or referral partner needs and what we have to fill that need.  In finding ways to stand out, this can be achieved through creating a niche within your space, marketing yourself through networking and content publishing, and staying relevant through constant connection with your referral partners and clients.  Understanding your audience is key as it creates a more valuable interaction.  By learning about the prospective client or referral partner you are trying to engage, you have a much higher chance of “closing” the relationship.  

When interviewing newcomers to the industry, what do you say to pique their interest on why they should accept a position in this industry?

Newcomers should know that the financing world provides a wealth of opportunities- many of which are not taught in college finance classes.  The biggest positives are the ability to use a creativity in problem-solving and no ceiling on growth.  There is no rulebook for solving small business financing needs.  Being able to analyze, learn, and impart knowledge of your product to others is key and every situation is unique- I find this extremely exciting as every day brings new opportunities and new challenges.  Growth within your firm- or in my case starting a new company- is also attractive as there are many options to create a career path within finance once you find an area that you are passionate about.

How would you encourage young professionals to become more involved in their community or volunteer? How have these activities outside of work helped shape your professional life? 

Find a cause you are passionate about and something that relates to you.  As part of my desire to give back, a good friend introduced me to Experience Camps – a camp for children who have lost a parent or close loved one.   I had attempted to find a cause that was close to me for years; it was tough to be passionate about something that I either didn’t have a direct impact on or something that I hadn’t experienced.  As my mom passed away unexpectedly, I found that this would be a cause I could not only relate to, but also, through the ability to interact directly with children and volunteer at the camp, I could give back.  For me, the one-week camp that I volunteer at annually provides an unexpected benefit to my professional life; I use it as a way to take a step outside the bubble of a regular work schedule.  This helps me level myself and return to the work environment with a renewed perspective.  It becomes therapeutic and one of the unexpected benefits I have received from giving back has been getting so much back in return.