[WestCoastFunding]

so the primary attack was against YSC?

On COJ funders overall. And YSC was the plurality of the filed COJs I think. Then they threw in a bunch of emotional stuff (that really had nothing to do with COJs, but gossip about shady charectors) for some gusto.

[WestCoastFunding]

Marcus....that is 25% A YEAR, not per contract. PER YEAR

I’m sure PayPal/Swift would like that. Didn’t Swift have aggressive no stacking clause/penalties in their contracts? Probably the most aggressive in the industry.

[mcaguru]

Marcus....that is 25% A YEAR, not per contract. PER YEAR

Correct ..what do you think Kabbage and the Ondecks of the year are per year ?

[fundingsmbs]

several contracts have them. many are being breached daily. but, companies like kabbage and others layer all the time behind these contracts and companies. stacking is not illegal. What I think the whole fuss is about is the collection methods being used through COJs and calling out the main players that the records show have the most cojs out ther e filed in NYC

[Kevin Henry-Seacoast]

Correct ..what do you think Kabbage and the Ondecks of the year are per year ?

OnDeck-I have seen some sub 20% on an annualized basis.

[WestCoastFunding]

OnDeck-I have seen some sub 20% on an annualized basis.

Think of where they could be if they removed the risk/loss associated with stackers. Especially COJ guys that jump them in line during collections.

[Kevin Henry-Seacoast]

Think of where they could be if they removed the risk/loss associated with stackers. Especially COJ guys that jump them in line during collections.

Probably about the same-They have access to cheaper capital.

[Nunya]

Correct ..what do you think Kabbage and the Ondecks of the year are per year ?

??

[WestCoastFunding]

Correct ..what do you think Kabbage and the Ondecks of the year are per year ?

Does Cresthill work with them?

[fundingsmbs]

if you calculate out an example of a $50K loan with ODC with a $59,500 payback with it';s origination fee of 2.5% and 252 payments (12 months) the APR would be 42.60%. The broker channel will have higher APRs due to upsells.

[fundingsmbs]

Probably about the same-They have access to cheaper capital.

it would help their stock price if competition left and their portfolio didn't have that weight on it of addtl companies funding them.

[Don Dolla]

The 1st position funders like Rapid and Ondeck have been spending millions on lawyers and legal fees to fight the stackers in court for years!.. obviously they have been losing that battle... so take it to ground and fight a dirty war in the press... buying a journalist has to be cheaper than years of litigation

[Nunya]

if you calculate out an example of a $50K loan with ODC with a $59,500 payback with it';s origination fee of 2.5% and 252 payments (12 months) the APR would be 42.60%. The broker channel will have higher APRs due to upsells.

I got 53.5%.

[Don Dolla]

how about when they payoff their own balance at 50% in and charge the same 1.45, how's the math on that work out... im not too smart

[fundingsmbs]

oh you mean double dipping? that has built empires in this industry. renewals are the franchise of this business. a takeaway on second position, it took alot of that practice away and revenue away from companies who double dip.

[Christian]

Yellowstone madly ghost-writing their own expose about OnDeck defrauding investors and the secondary market, etc etc...

[Cashman1]

Great move by ondeck but you guys got caught!

[arealfundguy]

Love a good conspiracy theory does not seem far off. But there is plenty of no coj 2nd position company’s like Lendini, Forawrd and Knight that don’t need a coj on every deal .Brokers know those deals are the easiest to stack and they operate clean practices with brokers and clients.COJ only funders will have to live without cojs eventually 2nd position funders that used to use a COJ on every deal will go out of bussiness or adjust and lower there funding amounts and underwriter better.