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08-02-2021, 07:26 PM #9
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- Join Date
- Oct 2013
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The average deal in this space is 1.38. If you're targeting 1.30s, that means you're basically targeting the 1.26-28s, which is better paper in general, and as BB mentioned, they're harder to close AND harder to find. The better the credit of the merchant, the more in denial they are about why their only option is expensive short term money, because their credit is just good enough to not be good enough for traditional retail lending options that they all would prefer.
It's smart to offer funding on the side of your main offerings, it takes the pressure away of prospecting solely for mca. The question would be how big is this alternative product network and is it growing, because if it isn't the mca part will be more of a side income and not really a buildable business, because there won't be a growth strategy.
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