Linda Hyde
Managing Director, American Association of Private Lenders
How many years have you been in Private Lending and why did you enter this field?
I went in for an interview after my call center had been closed. I was hired in October 2011 and placed in AAPL with the intention of moving to another company within the group. As I began working with AAPL clients and members, I grew passionate about the industry. The relationships that I began to foster mattered, and I was committed to seeing AAPL reach its full potential. 11 years later, I am running an organization with a culture that I helped create.
Where did you get your start?
My professional career began in a call center, and I have taken the skills I learned from that job and implemented them into the daily process of AAPL. I believe you use skills acquired at various points in each phase of your life. When I first started, I was new to the Private Lending arena, but with years of experience and a plethora of relationships built, we are servicing the private lending space better than ever before. I would say that my ‘start’ is what has led to our success. From day one, I have made it a priority to listen to our members and make sure that AAPL as an organization has their best interest at heart.
What do you do for your firm?
My title is Managing Director, but I do much more than can fit into that title, as do many on my team. I became a part of the AAPL team in its early days. I had the opportunity to listen to the members and get to know them and what they value in an association. Juggling the various roles within our organization has allowed me to see where our opportunities lie and work with my team to make sure we are the best representation for the Private Lending community. It truly is an honor to see how far we have come, and I am excited for the future of APPL.
How do your contributions affect your company at large?
It all starts with a vision. Starting at ground level has given me insight from multiple perspectives that others would not have. Seeing this vision come to life is so rewarding, but there is still so much work to do. My team is small but mighty, and they share the same passion and vision that I do. I like to think of each team member as a puzzle piece; we all need to connect to bring the vision to light. I play an instrumental part in making sure AAPL stays on course because I am the one that has my finger on the pulse of our membership. Our members know me, and I know them. That is how we can be a true representation of our membership.
How have you seen your company grow despite current market conditions?
AAPL has seen steady growth, which I believe is partly because of market conditions and partly because of our desire and ability to support and want to better the industry. AAPL is committed to being the voice for Private Lenders and providing resources to support our members no matter what. Regardless of market conditions, lenders need to feel supported and that we are advocating on their behalf. Our job each day is to make the lending space a more credible industry.
What are some of your goals for 2022 and beyond?
I try to set a few strong goals for the year and then build contributors to meeting those. For 2022, my goal was to get into a position to afford an additional employee, and in May, we were able to bring on a new team member that fits nicely into our little puzzle. We have goals of adding to the education platform, growing resources, partner relationships, and increasing membership. We have seen success in all of these. The conference has its own set of goals, and we have grown year after year thanks to the support of our many members.
What does success look like for you?
We celebrate our small wins but continue to strive for the overall goal of elevating the industry through ethics, education, and legislative efforts. Knowing that I am a part of this progression in our industry and can leave a mark equivalates to success for me.
What is something most people don’t know about you or your company?
Most do not realize we are a small but mighty team of three, and for the past few years it has only been two of us making everything happen. The AAPL team is not just about creating a better conference each year. We work daily on different initiatives that have a direct impact on the lending industry at large.
What steps are you or your company taking today to make an impact on the industry?
Where do I begin? We are taking on legislation that will negatively impact our industry head-on. It is empowering to know that AAPL is making a positive impact on the industry by tackling major issues. Our legislative efforts truly set us apart. We have seen success in preventing legislation from passing that would create barriers and be our industry’s demise. By fostering our relationships with our trusted partners and those in legislative offices, we will continue to let our member’s voices be heard and ensure the Private Lending industry is represented. We are also continuing to build out AAPL’s online educational platform and making significant changes to the Code of Ethics, ensuring all are treated equally, fairly, and equitably. Our intention is always for the betterment of the industry and our members. That drives the path we take every day.
What piece of advice did you personally receive early in your career that has helped shaped decisions you’ve made?
The best career advice I received was to find a mentor that I could trust. I have had a few in my life, and they have been instrumental in my career growth and have assisted me by providing valuable advice to keep me motivated in tough times. One of my long-time mentors is on my current team, and he keeps me grounded.
Tell us about a person or organization you admire. How have they made an important impact on you, the industry, or the world?
The lending industry is male dominated as we all know, but there are so many strong women in this space leading successful teams, and many of them have had a direct influence on my career. One most influential people who has impacted me is Ruth Bader Ginsburg. One of her famous quotes that resonated with me is: “Whatever you choose to do, leave tracks. That means do not just do it for yourself. You will want to leave the world a little better for your having lived.” I now have educated my own daughter and the path Ginsburg has blazed for women so she knows she can do whatever she puts her mind to as a young woman in this ever-changing world.
Are you involved in any associations, networking groups, or the like that have influenced your career path?
The most recent group that I am proud to be a part of is the Women in Private Lending (WIPL). It feels great to stand next to some of the smartest, strongest, most confident women in the industry, and I feel lucky to call many of them my friends. It is widely known that the Lending Industry is a male-dominated industry, and this group of ladies shows the power that women have in this space. The impact the group has made in such a short time has been incredible and appreciated.
If you had a clean slate to start over and do anything you wanted to do, what would that be?
I used to want to be a doctor, but that path did not work out. Then, I decided I would be a great attorney because of my love to argue and get my point across, but that is well past, too. Something in photography would be fun as well. I do know I need something that offers the flexibility I have now because I have grown to appreciate how this job allows me to balance work with my family. I love being a leader and having a great team, so I would not give that up for anything right now.
What is the best advice you could give someone thinking about making a leap into Private Lending?
Listen to what those around you are saying, talk to peers and customers before acting, and presume you know the least. I would give the same advice I received: find a trusted organization or mentor to provide resources to help you grow and be successful. I believe this world is full of more good than bad, and most people genuinely want to help you. Private Lending might sound very scary and can be if you do not have the right information. Connect and build relationships with those doing the business so you can learn about common pitfalls and be steps ahead of others.
