[MCNetwork]

CAN Capital, now MCC, this industry is and always will be a 60/80 payment schedule, factored at a 1.45 paying out 8 percent to staff and knowing, full well, that 100 funded deals 8-12 of them will default, the other 88 deals will create profits. Facts.

This is the high risk model for C/D paper. And the default rate is probably closer to 20%, not anywhere near 8-12%. There will always be a market for lower rate, longer term advances. They just need to be underwritten properly. Three month 1.45's hurt more merchants than they help which is why I don't peddle those deals.