Dext Capital has ascended to No. 92 from No. 103 in the Monitor 101 last year. CEO Kyin Lok attributes this growth to his team’s passion to support healthcare providers and medical manufacturers as a nimble, direct lender capable of providing a differentiated experience.
During his 25 years in the finance industry, including experience with GE Capital, GE Commercial Finance and U.S. Bank Equipment Finance, Kyin Lok has remained dedicated to delivering results to his customers and employees.
Lok and his teams have kept up their focus on filling in the gaps created by market inefficiencies during the pandemic with a focus on the healthcare industry. Recognizing an opportunity to revolutionize the financing process, Dext rolled out DART, an online financing tool, to give easy access to small businesses in need of equipment finance and working capital loans. Noticing that emergent technologies were not receiving much attention or support, Lok and his teammates, known as Dexters, were able to incorporate several innovative tools such as machine learning credit decisioning, online documentation execution and 24/7 access to both partners and end users to enable the financing process.
Dext provides a multitude of services for medical providers like financing medical equipment and affordable “break-glass” working capital for unexpected expenses. The COVID-19 pandemic created an opportunity for Dext to step forward to provide capital to healthcare providers to purchase personal protective equipment, ventilators or “COVID-proof” their lobbies and work areas. “It gave us purpose,” Lok says, noting the effects of the pandemic in which Dext played a supporting role to underserved medical providers during a time of uncertainty and adversity.
Despite the challenges of the pandemic and changing economy, Dext has been able to remain a stable, consistent on-balance sheet lender.
Recognizing the importance of having a great workplace, Lok sees the importance of trusting his team and creating a supportive and collaborative environment where teammates are confident in their work. He takes pride in the fact that the Dexters genuinely like each other and have fun with what they do, knowing where the company is headed as well as the roles they play in the company’s success.
As a veteran in the industry, Lok has been able to use his experience to build connections and a sustainable company shaped by his vision for the industry. He sees treating people fairly and right as essential components of success. But, more importantly, he values the importance of having fun at work. Lok advises the next generation of equipment finance leaders to play the long game — always do the right thing for your partners, customers and employees and always have fun.
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