I think the % of the refi is probably the better metric.. i have merchant that have taken 10 advances but always wait till almost paid off if not almost paid off. Then other merchant that start calling me when they are 30% paid in.. The first guy can last forever the other guy it is usually just a mater of time. If the merchant is using this type of funding to survive to the next month they are dead if they use it for a specific use that grows the business they will do well