Loan products are great. They serve and under-served market and there's a lot of growth there.

I will say this about loans vs advances. The product itself is not the deciding factor unless there is a large difference between the approved amounts. Most merchants simply want the better cost of the money. If you put two identical amounts with identical repayments in front of merchants, the majority will select the advance because the flexible payment "feels better". I know this from experience and not just guessing.

There is plenty of opportunity for the MCA space to grow but the loan products have the fastest and largest growth potential because of the under-served market. Premium priced advances are the key to capturing the A-B credit market and it's already happening.