CAN CAPITAL passes 4 Billion Funded Milestone last week and has a goal to fund 1 Billion in MCA's and Business Loans for 2014 alone.
Still the powerhouse that it is...
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CAN CAPITAL passes 4 Billion Funded Milestone last week and has a goal to fund 1 Billion in MCA's and Business Loans for 2014 alone.
Still the powerhouse that it is...
The #1 funder in the game fellas ! Can cap
That's amazing...anyone know how much they are currently funding a month?
70 to 80 million a month
That's a pretty good estimate.
It is an amazing milestone. Last year they reported $800m in funding and approx 550m of that was renewals. The repeat business in this industry is enormous and represents a large percentage of the reported annual fundings for all funders. It's also a indicator of a funders ability to retain merchants with good terms on renewals as well.
Easy to retain when you steal them for yourself and don't have to pay out a commissionQuote:
Originally Posted by MCAVeteran
I dont understand how agents are willing to take far less of a commission on the renewals when there are tier 1 funders paying out full commission on renewals.
as chambo said, thy aren't even paying ppl... im sure they pay some ISOs, but I have heard of reps getting burned big by CAN... it is what it is... besides, the merchant isn't going to move over to another funder when CAN cuts out commissions and says "we'll give you money for dirt cheap over 18 months" and everyone else is like "1.42 over 12 months"Quote:
Originally Posted by funding pro
they own the space... its like, 65% of the market share... nuts...
CAN was funding deals when some people in this industry were literally still in diapers. Think about that.
:mad: so true
so true>>>>>Quote:
Originally Posted by Chambo
they just officially confirmed it
http://www.cancapital.com/press/all/...inesses-funded
Based on those numbers, they are funding an average of $72K a deal.....hmmmmm
I was thinking the same thing, but it actually says 55,000 small businesses funded - they could have funded those business multiple times and the average would be less.Quote:
Originally Posted by Chambo
4 billion is a lot. I wonder what their average funded amount is per deal.
Most funders reported fundings include new and renewals and renewals is anywhere from 50 perc of a lot of funders reported numbers. Merchants typically get longer terms and larger fundings on repeat so the compounded total gets large. They have been funding since 1998 so first to market and a well executed loan product has magnified their volume.