We had the good fortune of connecting with Warren Ifergane and we’ve shared our conversation below.
Hi Warren, what do you attribute your success to?
Speed and pricing are both paramount in the private lending industry. ICG10 Capital excels at both: beating out the competition on loan-to-values and interest rates, while funding loans in just two weeks. In 2019, we had funded over $100 million in loans. Despite COVID, we’re already aiming to beat that record. While many during the pandemic closed shop, we continued to lend despite the risks. Our dependability gave us a very loyal customer base.
Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
It wasn’t easy. In fact, starting a business seldom is. I was making a very nice six-figure income at a private equity firm as an executive there. But at one point, I felt too capped in my potential, so I decided to start my own lending firm. The first six months were hell: no closings, no investors, nothing. And then the growth became exponential, and everything started clicking. It’s the best decision I ever made. The market tends to reward you for risk that others aren’t willing to take. Playing it safe is a surefire way to not be successful. At the same time, your risks need to be calculated, and your work ethic can’t be anything less than 12-hour days.
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
One of my favorite spots is Lagniappe. I think that’s the first place we’d go to: have some wine, cheeses, and meats. Then we’d likely listen to some great playa tech music at Proyecto Tulum and enjoy their mixology drinks. Maybe my favorite artist Adisyn would be playing there!
The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
While I didn’t get much help starting up, I’d have to credit my father. During college, he kicked me out of the house, and it was the catalyst I needed to succeed. Not having income was immediately priority number one, and that hunger is what propelled me to be successful. It’s a valuable insight, because as a parent, you want to give your kids all that they deserve. Counter-intuitively, you are doing them a disservice by spoiling them.