The Franchise Funding Provider Promotes Key Executives, Expands Services
Benetrends Financial, a leading franchise funding provider, has promoted Michael Minitelli from senior vice president of business development to chief development officer. Minitelli will drive the growth of the company’s new business relationships with franchisors and manage existing clientele. Benetrends also has promoted Ali Kraus to chief marketing officer.
“The ability to help steer change and growth at Benetrends excites me. Anytime you can be a catalyst for an organization and help drive its expansion is exciting,” Minitelli said. “I’m also looking forward to leading and developing my team as they move into the next stage of their careers. Seeing people grow is one of the most rewarding parts of leadership.”
Minitelli has worked to help franchisees find the most effective ways to fund their businesses. Such funding options include the ROBS 401(k) Rollover as Business Start-up plan, which allows entrepreneurs to use retirement funds to start businesses without being penalized. “The ROBS plan itself really blows me away. When I first started in sales, I was constantly talking to people looking to exit corporate life and start their own business. Many of them didn’t even realize they had the financial means to do it. Being part of that journey and seeing their excitement was so satisfying for me,” he said.
Rocco Fiorentino, president and CEO of Benetrends, said the promotions of Minitelli and Kraus come as the franchise funding company expands its ROBS plan and SBA loan options. “Both Ali and Mike have shown their vision, discipline, creativity and leadership skills in building the marketing team and the development team into a powerhouse for small business lending,” Fiorentino said.
Leading by Example
Minitelli, a Fairleigh Dickinson University graduate, has spent his career in sales roles for notable organizations including FranNet, Citrix, Crown Castle and Lightpath. He recalled being shaped by “old school” experiences like making cold calls and knocking on doors. “My ability to generate my own leads and build something from the ground up has given me a different perspective in the franchising industry,” Minitelli said. “It’s helped me stand out and bring that drive to everything I do.”
Minitelli said he believes in allowing others to shine by giving them the tools and resources they need to succeed and leading by example. “I don’t micromanage – I hired them for a reason. I want my team to feel empowered to run their own business within the organization. My role is to remove obstacles and provide support so they can thrive.”
He does this, in part, by encouraging franchisors to remove the obstacle of funding for prospective franchisees by addressing it as early as possible. “The sooner you can get a potential franchisee pre-qualified and confident that they can financially handle an investment like this, the smoother the process will be.”
About Benetrends Financial
Founded by Leonard Fischer in 1983, Benetrends Financial simplifies franchise funding with its comprehensive suite of services, including 401(k)/IRA rollover funding, SBA loans and unsecured funding.
