Monitor 101+ Executive Profile: Saurin Shah – The Right Time and the Right Team: Shah Turns Experience into Profit
by Ian Koplin Monitor 101+ 2023
Saurin Shah has had great opportunities throughout his career, all seized in the name of growth. After a list of successes, Shah built out the equipment finance side of MidCap and shares his story here.
Saurin Shah, President, MidCap Equipment Finance
Saurin Shah, president of MidCap Equipment Finance, started his career at GE directly after graduating with a degree in engineering. Joining GE’s engineering leadership development program, Shah was part of GE’s manufacturing businesses before joining GE Capital. It was at GE Capital that Shah got both his first taste of equipment finance and had the honor of working with some great mentors, who would help shape his abilities for the road to come.
Fast forward to 2010, Shah co-founded Nations Equipment Finance with five colleagues from his GE Capital days. That group of six would go on to sell Nations to Solar Capital in 2017, which is now better known by its current name, SLR Equipment Finance. After that sale settled, Shah exited in search of a new group of investors and came upon MidCap, where, in January 2022, he started the equipment finance offering for the company.
A year and a half into the business and counting, Shah says the foundational work is finished and growing the company’s portfolio is the current focus. “As we grow the portfolio, we’ll grow the team, and we’re continuing to work on a strategy to integrate our back-office functions between the working capital business and the equipment finance group,” Shah says. “That’s working out great. We’ll continue to drive operational efficiencies on the back end and provide better market capabilities on the front end, being able to provide multiple types of commercial finance products.”
Shah says he enjoys building businesses and assembling the best team for the job, something he has achieved with his current team at MidCap. “Since I’ve been around a lot of different organizations, large to entrepreneurial, I’m always looking for ways to simplify business models, streamline business processes, communicate most effectively with customers and just be very straightforward and transparent,” Shah says. “That’s why I lead this business with speed, simplicity and straightforward communication — the ‘Three S Strategy.’ I want my team to follow this mantra internally within our organization and ultimately with our customers. It’s been a great run so far and we have a bright future ahead of us.”
“We’ve been given a good opportunity with what’s going on in the current marketplace, so we have to be in position to take advantage of that opportunity.”
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