Dext Capital’s technology-forward philosophy helped the company “get it right” relative to adapting to the COVID-19 pandemic work environment. Kyin Lok, CEO of the company, explains the measures were already in place before the shutdowns as well as the new programs Dext Capital is rolling out to stay ahead of the curve.
Kyin Lok , CEO, Dext Capital
Kyin Lok, CEO of Dext Capital, has led his company through the COVID-19 pandemic with the foresight to build a nimble platform and deliver meaningful lending strategies to Dext’s partners within the healthcare industry. By utilizing cloud technology well ahead of the pandemic subsequent economic fallout, Dext could focus on the immediate needs of the healthcare industry as it mounted its defense against the virus.
“Our ability to move quickly to analyze the available information allowed us to make decisions at a far faster clip than most lenders,” Lok says. “We were first to go out and provide innovative solutions like short-term rentals on ventilators. We were one of the few to continue to lend in certain industries and really break through the fog of uncertainty to determine what our new environment would look like.”
Being ahead of the technological curve as the pandemic unfolded allowed Dext to navigate the new environment. Lok believes the need for agility and an ability to quickly pivot will become even more important going forward.
“I think as organizations work toward sustainability, they need to be able to have multiple levers, multiple stop gaps, so that they’re never in a position where they can’t continue to service their vendors and customers,” Lok says. “That’s part of why we obtained more liquidity. That proved to be very powerful for us during this crisis. We didn’t want to be reliant on other lenders’ balance sheets and sell transactions in the secondary markets.”
What’s next for Dext Capital? Among many things, the company recently rolled out a new working capital loan program and has seen great success so far.
“Working capital loans and many other healthcare lending products have always been on the roadmap for Dext. What we envision and what we aspire to do is to be the premier commercial lender to the healthcare industry. We want to provide support for anything that a hospital, clinic, dentist office or other health and wellness provider looks to finance or has some type of financial need for,” Lok says. “We looked at the industry and did not see affordable options for our customers. We strive to create an affordable, reliable, fast, convenient alternative and to be able to address the needs of our customers and valued partners.”
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