C.H. Brown Co. - January 2022

JANUARY 2022

307-322-2545 • CHBEF.COM

3 HABITS THAT CAN HELP YOU IMPROVE Set Better Goals in 2022

Read every day. The world has changed, and it’s still rapidly developing away from what it was just a few years ago. Reading can keep you informed as these changes happen. Spend at least 15 minutes each day reading material designed to help you improve or to inform you. Choose neutral sources with highly vetted information, and look to mentors, peers, and other professionals for recommendations. If you can commit to just 15 minutes every day, you will have read for 5,400 minutes by the end of the year. Imagine what you can learn in that time. Set daily goals. The tricky part with goal-setting — and ultimately the issue with setting new year’s resolutions — is that we don’t create a plan that will help us achieve our goals. For instance, if you want to get more organized, simply proclaiming it as a goal does little by way of helping you achieve said goal. But outlining the daily, weekly, and monthly steps you will take to get there makes this possible. Start at the daily level. Before you answer a single email or pick up the phone, write down three specific things you want to accomplish that day. Make sure these push you toward your bigger goals and build your day around that. Do hard things early. We’re all guilty of procrastination, but this action only makes the work we have to do more difficult. Each morning — or during the time of the day when you are most focused — commit to doing the thing that is the most difficult or most on your mind first. As our friends at Forbes explain, this will free up your mind for other tasks and allow you to put the best version of yourself into those assignments. This year, let’s commit to being better leaders for our businesses, staff, clients, and communities. At CHB, we actively examine the ways in which we can improve, and in doing so, we create an improving business both for our clients and our staff. We hope you find ways to improve in 2022. Together, we can be better.

As the new year begins, many people are starting what they call “New Year’s resolutions.” And sadly, somewhere around 80% of them will fail!

We would caution you against creating resolutions. The concept of establishing a vow specifically for the new year is flawed because it forces you to “wait” until the year has arrived to start. What’s more, resolutions are typically made on a whim without any planning, reasoning, or action. Resolutions are like dreams or ideas of who we think we should be, not definitions of who we can become . That’s where goals come into play. Goal-setting gives us purpose; it provides an action plan for improvement that is reasonable and achievable — even if it seems impossible. We encourage you to set goals for 2022, and in doing so, create actionable plans that help you achieve those goals. We all have ways in which we can improve, both personally and professionally, so don’t limit your scope to what you believe you should do. Instead, find ways in which you know you can improve and set it in motion.

We do have some knowledge on what it takes to operate a successful business and company culture. If you have professional goals you want to achieve in 2022, consider the following habits of successful

On Jan. 10, 1776, Thomas Paine published “Common Sense,” a 47-page pamphlet arguing for the colonists to fight against British rule. Many historians believe it was Paine’s writing that ultimately led to the Declaration of Independence. Today, Paine is recognized as a Founding Father of our nation. This Month in History

leaders. You may also want to read Stephen

Covey’s “The 7 Habits of Highly Effective People.” It offers great insight into this very idea, but we believe the following habits are indicative of the current market and economy.

Happy New Year!

–Ed Meyer and Kit West

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Meet Our New Hires — Joshua and Joel!

About Joshua: I am married to my beautiful wife, Shaina, and we have a son named Connor. I love to cook, fish, and hunt, and I enjoy watching movies and playing games with my wife and son. I also enjoy spending quality time with people and helping them when they need help. I have worked mostly in the trucking industry my whole life, including being a diesel mechanic and a dispatcher for a trucking company. My favorite thing to do is to smoke ribs and brisket on my Pit Boss smoker!

About Joel: My previous experience is in the areas of education, IT, business administration, and retail sales. I have three children and am glad to be back in my hometown. My hobbies include following sports, enjoying time with friends, doing projects around my house, and spending time with my children, especially taking them to movies. I began working for C.H. Brown Company in November 2021, and my title is Insurance Coordinator. I am enjoying my job and the people I work with.

GO BRANDLESS! IT’S BACK AND BETTER THAN EVER

Companies like Warby Parker have built a powerful customer following for creating direct-to-consumer products that slash prices. Now, Brandless is doing the same thing for small, everyday purchases. When you buy peanut butter, you’re not just buying the product — you’re also buying the brand attached to it, along with its costs of distributing and warehousing, plus retail space. By eliminating what co-founder and CEO Tina Sharkey calls a “brand tax,” she realized Brandless could significantly cut down the costs for small products that people bought every day. When Sharkey and veteran entrepreneur Ido Leffler came up with the concept of Brandless, it immediately caught fire. They raised over $16 million in November 2016, and at launch,

received over $50 million in venture capital from New Enterprise Associates, Google Ventures, and others. However, their business model didn’t sustain itself forever — Sharkey stepped down as CEO in May 2019 after friction between her and lead investor SoftBank Vision Fund. By February 2020, Brandless had shut down and laid off 90% of its workforce, leaving only a few to manage open orders.

That’s when Utah-based digital marketing exec Ryan Treft entered the picture. He’s the new CEO, and his vision has, thus far, helped make the consumer’s “quality to price valued product” daydream a reality. “It’s not about racing other brands to the bottom of being the cheapest, because that’s where people compromise on the quality, the ingredients,” Treft said. His new leadership promises to uphold Brandless’ previous commitments to keep all its products free from 400 potentially harmful ingredients, including parabens, sulfates, and synthetic dyes. For a new “brand” that attracted a lot of attention back when it was in its early stages, Brandless is certainly back to the top with its newer product lines in personal care. They’ve received great reviews and attention across platforms. Congrats for fighting your way back, Brandless!

Brandless is thriving again, nevertheless.

When Brandless shut down, they cited their struggle with fierce competition and business model inviability in the direct-to-consumer market. Part of the problem was that Brandless simply wasn’t sustainable in the way Sharkey and Leffler originally hoped.

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EXCITING NEWS FOR BROKERS

Chicken With Lemon Herb Sauce

CHB Is Now Funding Dump Trucks!

Inspired by FoodNetwork.com

Healthy eating doesn’t have to be bland with this citrusy chicken!

INGREDIENTS

• 1/3 cup and 2 tbsp olive oil, divided • 4 boneless chicken breasts • 1 clove of garlic, minced

• 1/4 tsp salt • 1/2 cup parsley, chopped • 1/3 cup mint, chopped • 1 1/2 tsp pepper • 1 lemon, for juice and zest

At CHB, our goal is to help brokers best serve others. The businesses our brokers serve built this country and continue to ensure supply chains function and other needs are met. In order to guarantee these businesses can continue functioning effectively and efficiently, we understand the need to occasionally adapt our services and offerings.

DIRECTIONS

1. Preheat oven to 450 F. 2. In a large ovenproof skillet, heat 2 tbsp olive oil.

That brings us to this exciting update: CHB will once again fund dump trucks!

3. Season chicken with salt and pepper if desired and sear it in the skillet for 3 minutes on each side. Bake chicken until its internal temperature is 165 F. 4. In a blender, add 1/3 cup olive oil, garlic, salt, parsley, mint, pepper, and lemon zest and juice and blend ingredients until coarsely mixed. 5. Top chicken with sauce and serve!

We stopped funding dump trucks about three years ago; however, we have found industry trends pinpoint dump trucks as a valuable commodity in this current market. Furthermore, dump trucks are good collateral, which adds tremendous value to the work our brokers do. We are thrilled to once again offer this funding opportunity to our brokerage community, but there are four stipulations that come with this new offering. For funding approval, the following requirements have to be met: 1. The truck passes a VIN check: All dump trucks must pass the VIN check on both the cab and the chassis. This is to ensure the vehicle has not been involved in a theft in which it was never recovered, nor has it been subject to suspicious insurance activity. 2. The truck is double-framed: Double-frame trucks are stronger and more durable than single-frame trucks. This prevents damage to the vehicle — and subsequently the investment — and ensures the user can responsibly rely on it for heavy loads.

CHB’s Did You Know…

We are excited to announce that CHB will attend the NEFA Conference in March and the Financing Expo in September. See you there! We consider cryptocurrency in personal financial statements and on business balance sheets for new credit requests. Please reach out if you have questions!

3. The borrower is not a start-up: Businesses that have only existed for 17 months will not be approved for funding for dump trucks. A borrower must be in business for a minimum of 18 months before funding can be considered. 4. A 25% down payment is possible: We are asking that all borrowers provide at least a 25% down payment on the dump truck in order to qualify for additional funding. While we are always willing to negotiate, this is a very firm requirement we are setting for dump trucks at this time. We are very excited to offer greater opportunities for our brokers and the clients they serve. We know it’s going to make a big difference for a number of businesses. If you have a question about funding dump trucks, please contact CHB today.

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PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411

C.H. Brown Co., LLC A PLATTE VALLEY COMPANY 20 W. Frontage Rd. • Wheatland, WY 82201 307-322-2545 • chbef.com

Inside

1 CHB’s COO and Business Development Director Share Goal-Setting Secrets 2 Meet Joshua and Joel! 2 Go Brandless — Their Unique Comeback Story 3 Chicken With Lemon Herb Sauce 3 CHB’s Did You Know 3 CHB Is Funding Another Vehicle Type! 4 We Have 2 Changes in Effect This Year!

2 Updates You Need to Remember in 2022 Don’t Forget These Changes!

Last month, we detailed a few changes coming to CHB’s forms and operations starting this year. Each of these changes was made because we believe these updates will provide greater service to our clients and the small-business leaders they represent, but we also understand that no matter how beneficial an update may be, change is difficult.

Similarly, we are providing brokers with a new terms sheet in 2022, which will accommodate the buy-sell method. Changes to Early Payoff

So, consider this your reminder!

To remain competitive and continue with industry standards, CHB is updating our early payoff premiums for those who pay the total of their accounts early. Starting this year, we will have graduated rates of 5%, 4%, and 3% in 12-month increments within the first three years of an active account or loan. This practice is very common within equipment financing and will allow our brokers to be more competitive for their clients. Our goal is to be as transparent and communicative as possible during these changes, and we hope this reminder was useful! (We recommend keeping this newsletter on hand and sharing it with your team, in case a reminder is needed.) As mentioned, if you have further questions or would like to learn more about how to best utilize this knowledge, please contact us. We’re happy to help you provide the best service to your clients.

We wanted to take this opportunity to re-introduce you to the new updates coming to CHB in January 2022. As always, our team is happy to answer any questions you, your team, or your applicants may have. We appreciate your understanding and cooperation! Updated Rate Offers One of the biggest changes in 2022 comes by way of an Equipment Finance Agreement (EFA). While the form will continue to be provided electronically, it will now incorporate the buy-sell rate method to increase lending transparency. Previously, we had limited flexibility with interest rates, which could leave the brokers we serve in a tight spot. Effective this year, our brokers will be able to negotiate with clients’ terms for more satisfactory results.

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