[Michael I]

At Wellen we did make the decision to pause funding for the time being. Underwriting models based on historical performance - even with data enrichment sources - don't don't perform as well when the pace of change is so rapid. And while we aren't able to retain all of our staff as we work to match expenses with an interruption in funding, we aren't by any means closing our doors.
Like many in the industry, we're evaluating how and when we can resume funding, and best protect the interests of our investors, capital partners, and employees. We'll be in touch with our ISO partners as circumstances change, and we return to accepting submissions.

Steven O'Connor
CRO
Wellen
soconnor@wellen.com

wow are your margins that low that you cant survive to pay salaries a month or 2 even with no business.
I am sure glad i am a broker not a funder

[BROKER TIME]

wow are your margins that low that you cant survive to pay salaries a month or 2 even with no business.
I am sure glad i am a broker not a funder

you guys dont understand its very hard to just pay employees when 0 is coming in and a future of uncertainty
as a business owner it hurts to have to suspend operations not only for our own pockets but for also those that have been with us

why is it fair for a business to pay out when its not making money?

you think we wanted this virus to happen?

if it was guaranteed that in a month business would be even 50 percent to where it was i would gladly lay out salaries however its not!

ps PRINCPIS STOPPED FUNDING

[Michael I]

you guys dont understand its very hard to just pay employees when 0 is coming in and a future of uncertainty
as a business owner it hurts to have to suspend operations not only for our own pockets but for also those that have been with us

why is it fair for a business to pay out when its not making money?

you think we wanted this virus to happen?

if it was guaranteed that in a month business would be even 50 percent to where it was i would gladly lay out salaries however its not!

ps PRINCPIS STOPPED FUNDING

listen it will not be easy for me to fork over 20k this month with no business, this happens another month even harder a 3rd month and by month 4 i might join you , but at least you are closing doors so i get it . However a funder that has a large credit faculty should be able to handle a little before giving everyone the boot.We do not know if this will be 2 weeks 2 months or 2 years .If they lost their credit lines already than i might be a little more sympathetic.
I for one am a pessimist and am always ready for having a couple of bad months.