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  1. #1
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    The Coming Default? Disaster

    Let's assume we all survive this and in a few months we're back on track... I'd venture to say that a very large chunk of honest, good paying merchants are going to need lowered payments to get there (and contractually they deserve/will get them).

    How the heck are funders going to differentiate who actually defaulted/loweredpayments and who needed lower payments for Corona? That's going to be a wild underwriting feat.

  2. #2
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    The company issuing the lowered payments should provide documentation. If not then its up to the funder trying to fund them to decide but overall seems nationally merchants will get benefit of the doubt.
    Btw this thing is far from reaching its peak, which should take a couple months depending on mitigation steps like cancelling all mass events.

  3. #3
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    Just floated a $3Mil ABL facility and can't wait to close it!
    Hedley Lamarr......That's Hedley

  4. #4
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    datamerch

  5. #5
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    Quote Originally Posted by Get It Done View Post
    datamerch
    It's good but won't address this nearly enough. This will be a MASSIVE problem. Most will have lowered payments and funders will get screwed because that route of finding defaults will not be available for months.

  6. #6
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    Just make 1.49 over 20 days with 10% fees the standard across the board. We are all going to become default funders.

  7. #7
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    Quote Originally Posted by WestCoastFunding View Post
    Just make 1.49 over 20 days with 10% fees the standard across the board. We are all going to become default funders.
    hahah unfortunately that may be the truth! Going to make renewals super easy. Each week a merchant is alive during the pandemic they will be renewed.

  8. #8
    Trust but verify, when it comes to mods. New decision logics will be pulled to assess the impact on revenue.

    But for sure this will be painful-

  9. #9
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    I just checked Industry stocks:
    Ondeck -26%
    IOU -25%
    Newtek - 14%
    Square, Inc -10%
    Shopify - 8%
    Enova (business backer) -5%
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  10. #10
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    Quote Originally Posted by mcaguru View Post
    I just checked Industry stocks:
    Ondeck -26%
    IOU -25%
    Newtek - 14%
    Square, Inc -10%
    Shopify - 8%
    Enova (business backer) -5%
    Thats not inustry specific. Markets are collapsing across the board

  11. #11
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    Quote Originally Posted by MCN View Post
    Thats not inustry specific. Markets are collapsing across the board
    Ondeck is a STEAL right now. Anyone want to give me/partner with me on an 80mm ABL loan against Ondeck so we can take it over?

    That guy Franklin has some good sources of capital?!

  12. #12
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    Quote Originally Posted by SFC View Post
    Ondeck is a STEAL right now. Anyone want to give me/partner with me on an 80mm ABL loan against Ondeck so we can take it over?

    That guy Franklin has some good sources of capital?!
    Go into your kitchen, throw a bunch of knives in the air, and try to catch them blind-folded..... It would be much safer....
    Hedley Lamarr......That's Hedley

  13. #13
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Go into your kitchen, throw a bunch of knives in the air, and try to catch them blind-folded..... It would be much safer....
    Pass. Bought a bunch of stock. I definitely will not lose any hands or fingers doing it.

  14. #14
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    Quote Originally Posted by SFC View Post
    Pass. Bought a bunch of stock. I definitely will not lose any hands or fingers doing it.
    the Fed pumped 1.5Tril into the market today.....the market rallied and rolled right back over again.....
    Hedley Lamarr......That's Hedley

  15. #15
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    there are hedge fund managers that have been waiting for a decade to buy stocks that are for sale at 25% discounts that will not be effected this much by current matter. (I.E. health related stocks or etc).
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  16. #16
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    the Fed pumped 1.5Tril into the market today.....the market rallied and rolled right back over again.....
    Buy on the fear. Sell on the Greed. It's a tale as old as time. If we can't sack up now, we never will!

  17. #17
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    Quote Originally Posted by SFC View Post
    Buy on the fear. Sell on the Greed. It's a tale as old as time. If we can't sack up now, we never will!
    SFC-Go out and buy 50,000 shares in 1 share lots. Ask your broker to send you the stock certificates. Toilet paper shortage solved......
    Hedley Lamarr......That's Hedley

  18. #18
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    SFC-Go out and buy 50,000 shares in 1 share lots. Ask your broker to send you the stock certificates. Toilet paper shortage solved......
    Lol honestly at the rate/hoarding of toilet paper... the certificates will be worth more!

  19. #19
    In other news.....New York City has banned event's with more than 500 people.......I guess no Brokerfair?

  20. #20
    Senior Member Reputation points: 11927 FUND3R1's Avatar
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    Quote Originally Posted by Jack23 View Post
    In other news.....New York City has banned event's with more than 500 people.......I guess no Brokerfair?
    & This is what I want to know..
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

  21. #21
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    Quote Originally Posted by Jack23 View Post
    In other news.....New York City has banned event's with more than 500 people.......I guess no Brokerfair?
    By the looks of it, there won't be any conferences happening around the world anytime soon.

  22. #22
    Senior Member Reputation points: 7556 cmarks's Avatar
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    Quote Originally Posted by Jack23 View Post
    In other news.....New York City has banned event's with more than 500 people.......I guess no Brokerfair?
    would you go?? the peak time if we are lucky might just be over by then but still thousands if not millions will still be infected. ill pass, but theres money on the line so there are some that think its a good idea still/
    Last edited by cmarks; 03-13-2020 at 09:35 AM.

  23. #23
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    Quote Originally Posted by cmarks View Post
    would you go?? the peak time if we are lucky might just be over by then but still thousands if not millions will still be infected. ill pass, but theres money on the line so there are some that think its a good idea still/
    wonder if they will return money. tons of pre tickets were sold

  24. #24
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    Quote Originally Posted by Michael I View Post
    wonder if they will return money. tons of pre tickets were sold
    I'd assume they'd just push it back worst case? It's going to happen at some point.

  25. #25
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    Quote Originally Posted by SFC View Post
    I'd assume they'd just push it back worst case? It's going to happen at some point.
    In The Summer would be nice
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

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