[MCNetwork]

While I think "buying leads" makes as much sense as showering with a raincoat, this is the only market where Lendio has a shot at turning into long-term customers.

Well there is an acquisition cost for every customer. Buying a lead is no different than spending on SEO, Pay Per Click, mailers, and telemarketing campaigns. For many smaller ISOs, buying a qualified lead is a more cost effective method at getting customers than spending 25K+ a month on various marketing efforts and seeing what sticks. Even the big ISOs and direct funders out there use a multi-pronged marketing approach that almost always includes purchased leads.