Quote Originally Posted by MCNetwork View Post
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.
Sadly, it's the three month 1.45s that hurt 1st position A paper funders.