John I know we spoke briefly over the phone regarding this yesterday and understand your concerns, but wanted to add my thoughts here. Yes its's true we are limited to real estate only as of last week, but the fact is we have never been busier.

Most (not all) of the deals we fund are scenarios where the ISO is having a difficult time getting them normal funding elsewhere because of various reasons such as but not limited to:

1) Too many returned items / negative days
2) Consolidations since we do not have a net cash minimum rule for the client
3) Looking for a larger loan amount 2x - 5X average monthly deposit (which merchant isn't looking for a larger loan amount)
4) No minimum number of deposits required
5) Open to lending to almost every industry since we have collateral
6) Larger deals are our specialty 350K - 2 million
7) Looking for a lower interest only daily or weekly payment (especially popular on our consolidations)
8) No minimum balance requirements
9) In business as little as 3 months ok as long as deposits are 25K or more per month

Since we have the collateral it gives greater flexibility where other lenders may not have. Although the process may take a little longer, sometimes it's worth to ask the questions of whether they own and are willing to use real estate, then throw the deal in the garbage.

Chris Pepe
Vice President
World Business Lenders
120 West 45th Street Floor 29
New York, NY 10036
Tel + 1 212 293 8210
email: cpepe@wbl.com