Donna Hinrichs

Strategic Partnerships Manager, RapidAdvance

Biography:

Donna is a strategic partnerships manager in RapidAdvance’s Factor/ABL Divison. In that role, she and a growing team are dedicated to helping factor and ABL partners provide additional funding to their existing and prospective clients.

Donna joined RapidAdvance with 20 years of factoring and ABL experience, having worked for some of the best companies in the industry.

“I know it can be difficult for small businesses to find working capital,” Hinrichs says, “but I can reach out to factors and asset-based lenders to show them just how easy it is to provide their clients with reasonable, reputable solutions to the clients stretch piece and over.”

A graduate of Southeast Missouri State University, Donna is active in the TMA, IFA and SFNET. She was past President of the Midwest Chapter of the SFNET in 2011. She currently is on the Women in Commercial Finance event committee in Chicago, Chairperson of the Entrepreneurial Membership subcommittee, and a member of the SFNET Annual Convention Planning Committee.

What advice would you offer to women just starting out in the industry?

Find a company who has the same philosophies on teamwork, leadership and sense of values as you do. It can take a lot of due diligence on your part to be successful with your first round of interviews. Be persistent. Ask as many questions as possible. You are interviewing them as well as they are interviewing you. Find a company that you can be proud to represent.  Be true to yourself; you can’t pretend to be someone else, at least not for very long. Find opportunities to network with other women in the industry; it is essential for all women in business.

What do you know now that you wish you knew in the beginning of your career?

I was apprehensive about voicing my opinion so I would either apologize in advance or not speak up at all.  My mentor told me to “always speak up.”   Be sure to share your ideas with your co-workers, mentors and network.  You could easily have an alternative take on a situation and it could be a game changer. Some ideas will fall flat and others will be successful.

I also believe that the power of a strong network is an essential tool for being successful.  Whether it is social networking, such as LinkedIn, Facebook or Twitter, or networking at an event, it is a way to be better connected than ever. Networking is something I enjoy and look forward to.  Whether it is a national SFNET event or a local event, I always come away with new additions to my network and reconnect with others.  

What kind of role has mentoring and/or sponsorship played in your career?

I have had several great mentors during my career. Early on in my factoring and ABL career, Larry Meek, who has since retired, was an important role model and coach. When I began my career almost 20 years ago, I was one of a handful of women in factoring. Larry encouraged me to take chances, to think outside of the box, and take charge of situations. I also had two very important SFNET mentors, John Ross and Chris Foltman.  They are both past presidents of the SFNET Midwest Chapter. They encouraged me to become involved in the SFNET, which ultimately led me to becoming president of the Midwest Chapter.

What do you think the industry could do to attract and retain the best and the brightest today?

A work life balance is truly essential in today’s marketplace. Millennials are demanding more and more from their careers. Although money is a big determining factor in a career, it is not the only key to retention. The industry will need to create the type of professional environment that not only attracts the best and brightest but retains them as well. Feeling professionally fulfilled is one of the key determiners for retention. I have heard from many starting out in the business that feeling passionate about what they are doing, making a difference, acquiring new skills or career progression are key determination factors to their choice in careers.  Our industry must take on an active role in creating the type of environment that not only attracts the best and brightest but allows them to thrive.