From Basement to Inc 5000
Updated: Dec 10, 2019
The Pawn Shop
2012. Will Murphy owned a pawn shop in downtown Rochester, NH. Josh Feinberg, an employee of Will's, came across a Facebook post saying a friend was starting a restaurant in the area. And it hit him.. Why not finance equipment for the new business?
With a fire inside him, Josh went to work. He wrote out a business plan. In his plan he wrote in detail about how they would become a top firm in the United States. At the time, Josh was only making $272 a week. He knew there was more out there, he knew he could do better. He presented his plan to Will, who was also ready to move on from his pawn shop. Will believed in Josh’s vision and loaned him $3,000 to start his business.
They had a plan, they had the money, now they just need a name. They looked around the pawn shop and saw a punching bag that read “Everlast.” And with that, the name "Everlasting Capital" was born.
November 2012. This time of year in New England, it feels as if it’s winter. Which means the basement is just as cold. All Josh had was a table, a pawned computer, a used office phone, and his coat to keep him warm. Day by day he made phone call after phone call. He pitched equipment financing and short term working capital. No luck. All these calls, all these 'almosts,' were going nowhere. Josh felt discouraged. The fire he had inside him was dying. He wanted to quit.
“I FUNDED ONE!”
Josh bolted up the stairs yelling. Everlasting Capital was finally in business. They purchased cubicles, phones, and computers. They were only able to fit 4 people in the basement. Although business was rising, hiring family and friends to work in a basement was not what they envisioned.
The transition from the basement to this office was NOT easy. There were ups and there were downs. Employees came and went. Tough decisions had to be made. But through that process, Josh and Will managed to get on the Inc 5000 list in 2017. They became one of the fastest growing private companies in New Hampshire.
Fast forward to today. Everlasting Capital is up and running at an office that can hold up to 30 employees. CEO Josh Feinberg and COO Will Murphy launched an online school called Equipment Broker School, focusing on equipment financing helping others wanting to get into the industry. They've spoken at a number of broker fairs such as the deBanked Fair in New York City along with deBanked Connect San Diego, sharing their experiences and knowledge with others. And this is just the beginning.