[FUNd]

...who you're giving your information or advice to.

"Gee whiz...I'm a business owner...and I'm just not sure how to find anyone that can finance my new bulldozer for 50K at a 36 month term. I thought instead of rifling through the **** ton of faxes, snail mail pieces, emails, and voice mails I've received every day for the past number of years, or just searching the web, or calling my bank, I'd go to a little known to consumer, niche networking board for finance professionals, create an account, and then sheepishly ask where I can get funding."

-or-

"I can offer 100K LOC's to hot dog stands with 2 days in business. Open BK OK. MUST have 450 FICO and minimum of ONE secured credit card for $300."

Keep your eyes open folks. Just a word of advice.

[Jared_Weitz]

...who you're giving your information or advice to.

"Gee whiz...I'm a business owner...and I'm just not sure how to find anyone that can finance my new bulldozer for 50K at a 36 month term. I thought instead of rifling through the **** ton of faxes, snail mail pieces, emails, and voice mails I've received every day for the past number of years, or just searching the web, or calling my bank, I'd go to a little known to consumer, niche networking board for finance professionals, create an account, and then sheepishly ask where I can get funding."

-or-

"I can offer 100K LOC's to hot dog stands with 2 days in business. Open BK OK. MUST have 450 FICO and minimum of ONE secured credit card for $300."

Keep your eyes open folks. Just a word of advice.

I am curious to know your thoughts on how this industry is evolving FUNd. Sure there are still the funders who fund very high risk paper much like a new business owner who has 516 credit and has been open 3 months, and yes that is very high risk paper and it does have a very high default rate which is why the rates are higher on those programs...........BUT what about the new programs going out to 48 months and starting at 7.99% for qualifying merchants? What about other new programs for ABL's, new SBA's, AR Financing at 25bps a month only. I think you fail to mention the good that this industry provides. I also think it's fair to mention the full scope of the industry where again yes there are short term high rate programs but also there are longer term low rate programs.

[FUNd]

I am curious to know your thoughts on how this industry is evolving FUNd. Sure there are still the funders who fund very high risk paper much like a new business owner who has 516 credit and has been open 3 months, and yes that is very high risk paper and it does have a very high default rate which is why the rates are higher on those programs...........BUT what about the new programs going out to 48 months and starting at 7.99% for qualifying merchants? What about other new programs for ABL's, new SBA's, AR Financing at 25bps a month only. I think you fail to mention the good that this industry provides. I also think it's fair to mention the full scope of the industry where again yes there are short term high rate programs but also there are longer term low rate programs.

Are you asking me to write a thesis on the alternative finance market? That's too tall of an order for this kid, especially at 7am. I think you missed my point. My point was is that there are people out there simply fishing for information on their competition, and some posts on DF seem a conjured, or too good to be true. I've been around a minute in the finance game, so when I smell something funny, I like to let others know.

[WhoisKingsley]

This is a Forum... what do you expect? People are on here for that reason. That is the reason why I DO NOT give strait answers. Smart people don't ask for answers, they ask for guidance. If they ask for answers or come on here for "competitive" reasons they are doing something wrong. Competition is non-existent in my eyes and whoever does want to compete isn't secure about their business or practices. END OF STORY. If you choose to fall into traps it is your own fault of thinking things come easy.

[Zach]

Maybe I'm wrong here, but I'm pretty straightforward on this forum. I have no problem sharing sales strategies, marketing tactics, or really anything that I am doing.

Perhaps I am naive, but I feel that even if my competition understands what I am doing, them trying to implement it will simply leave me one step ahead, with them scurrying along trying to play catch-up.