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07-16-2014, 06:01 PM #11
- Join Date
- Jul 2014
- Posts
- 92
I think most of us know who Nathan Warshaw is, regardless of which email he chooses to use. Anyone who has funded real volume in this space knows that name.
For years I have heard lenders lament the activity their brokers engage in... stacking, gauging merchants with additional fees, unscrupulous marketing techniques, etc. There has never been any real consequences for this behavior, which I think is why so many fear future regulation. However, it seems like there is a shift by some of the larger funders to clean up the space. I know On Deck has recently terminated their relationship with dozens of partners, and CAN has become extremely selective about signing up new brokers. I hear other players are reevaluating who they partner with as well. It wouldn't surprise me if minimum monthly requirements become regular to keep relationships.
Even with all the money and technology currently available, brokers still make up a majority of the volume funded and I don't think this will change anytime soon. However, the barrier to entry is definitely higher than it used to be.
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