[omegafund]

That's why I don't follow Michael I's scenario. It's possible there is some detail I'm missing, so I can't comment with certainty yet.

But when a customer pays down to zero balance, that doesn't close their account with BlueVine. Quite the opposite - keeping the line open for future draws is like 50% of the value prop to the customer and to the ISO.

The average customer draws 3x their credit line over 12 months. So a customer with $100K credit line draws $300K on average in the first year. The ISO is paid commission on all $300K.

Matt
BlueVine

Contact me on a deal with you guys. My rep tried with your Uw

Ben
720-279-4345

[matt.estes]

Contact me on a deal with you guys. My rep tried with your Uw

Ben
720-279-4345

Hi Ben - I'll give you a ring tomorrow.

In the meantime, I did catch up with my team on the specific deal in question. It would be inappropriate for me to share real specifics on a forum like this, but from what I can see:

a) Your client got an approval, but not as large as you'd like. Your rationale to question the line size seems reasonable to me.

b) Underwriting requested a stip to try to bump the offer up for you. In my estimation, their rationale to ask for the stip is also reasonable.

c) You provided the stip back and it's in the Risk queue to be reviewed

I'm confident that we'll get to the right answer here. Either way, I'm looking forward to the chat tomorrow!


Matt Estes
BlueVine
partners@bluevine.com