A Conversation with Bill Tessar, CV3 Financial Services
Release Date: 10/16/2023
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info_outlineWilliam J. Tessar is one of private lending’s most successful and inspiring leaders. From founding four companies in the conventional space to spearheading the remarkable success of Civic Financial Services, his journey offers invaluable insights to those new or veteran in private mortgage lending. Today, at the helm of CV3, Bill is recreating the magic that existed in each of his previous companies.
Kevin had the pleasure of traveling to CV3 headquarters in El Segundo, CA, to check out the new space and interview Bill. Throughout the conversation, it became clear that Bill puts his team’s success (personal and professional) and happiness first – a concept that too often comes secondary to many businesses – and dives deep with us to get to the core of the fervent loyalty of his employees. They also discuss the complexities of the private lending industry, the effects of regulatory interventions on banks, and more. This is a truly special episode with an extraordinary leader, so dive in now – the Lender Lounge awaits you!
Key topics:
[00:01:05] An overview of Bill’s professional background
[00:08:32] Believing in loan sharking myths, Bill uncovered savvy borrowers with robust credit in hard money lending
[00:10:51] Transitioning from conventional to Bridge Private Lending (BPL) is challenging; partnering may be the solution
[00:14:41] A look into Civic’s acquisition
[00:20:18] How the banking crisis shook Civic
[00:24:26] Regulatory constraints challenge banks operating in private lending; regional relationships are essential
[00:29:06] Unwavering employee loyalty to Bill during Civic's transition
[00:35:29] Bill's approach as CEO: People-first, strategic vision, and fostering a solid workplace culture
[00:40:41] CV3 represents the “core group's” third iteration, emphasizing impactful lending solutions
[00:44:35] Facing stress launching with 160 employees, ensuring resources and creating an independent vision
[00:47:17] Why Bill emphasizes aligning with the best tech, not building from scratch
[00:50:36] Seeing opportunity in distressed real estate
[00:54:46] Reestablishing as a top player through channel expansion and introducing new products
Links:
Learn more about CV3 at https://cv3financial.com/
Learn more about Geraci Law Firm at https://www.geracilawfirm.com
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