2017 Year in Review: Ira Zlotowitz, Eastern Union Funding

Name & Title: Ira Zlotowitz, President, 

Company Name: Eastern Union Funding

What was your most notable project, deal, transaction or professional achievement in 2017?

One of the driving forces behind our success in 2017 is the expansion of our QTS (Quotes and Term Sheets) Banking Division. To meet surging demand and assure the best service in the industry, Eastern funnels deals through this one-of-a-kind Division, guaranteeing clients the best terms by having the QTS team initially process and follow-up on every deal, thereby advising lenders by knowing the appetites of every bank brokers deal with company-wide. Another contributor to our success was the establishment of a new Affiliate Broker Division that has signed up more than 1,000 commercial sales brokers in two months.

What was the best decision you made in 2017 and why?

Eastern Union Funding’s decision to double down on our investment in technology, data management and back office operations was the best decision we made in 2017. These investments helped us break the $3 billion mark in commercial lending transactions for the third year in a row, and we are well on our way to topping $4 billion by year-end, making 2017 our best year ever. With the establishment of our highly successful Affiliate Broker Division in late September, we are hoping to double our volume in 2018.

Who or what contributed to your success in 2017 and why?

Our continued investment in data collection and technology has helped each Eastern broker get to know each lender better, and this intelligence has provided them with additional tools to place deals. Our exclusive commercial sales broker application topped 10,000 downloads in 2017, offering participating brokers access to loan calculators, comps and rates at their fingertips. In addition, our new Affiliate Broker Division offers participating brokers direct access to real-time financing intelligence for debt and equity through Eastern Union’s QTS banking department.This enables brokers to present potential sales to clients with all their financing information needed in place. 

What trends will impact your business in 2018?

Expanding investment in technology will help mortgage brokers, bankers and clients streamline the lending process and gain access to up to the minute data. Because of that, we need to stay even further ahead of the curve in our technological advancements. This investment will increase deal flow substantially, enabling Eastern to increase market share as more of our competitors remain in the stone age. I firmly believe that if I help sales brokers be successful in their business through providing access to data and technology for free, that he or she will help us in the future.