Quote Originally Posted by ERS View Post
Lendio is going to create a bunch of pissed off Merchants in short order. They have what is supposed to be an educational PDF for download where they ply businesses with incorrect information. Just as an example, the call MCAs loans where the merchant can "borrow" money at an interest rate of 18% to 22%. First, the range isnt even accurate if it was an "interest rate". MCAs arent loan and the money isnt borrowed! Thats just one example. Going in behind that trying to educate a merchant and tell them the "expert advice" they received was wrong is going to create problems. Obviously its designed to get the merchant to apply, but what happens if the end up getting a factor of 1.35 and think that they are getting screwed because Lendio claimed "interest" was in the range of 18 to 22%? Bad Ju Ju in my opinion and reeks of Bait & Switch tactics!
I agree, they don't know the market well enough to quote anything and there are too many variables for them to say something, they're in the lead business not the funding business.