[Jared_Weitz]

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

couple questions here. Only 3 really:

1) Too many returned items / negative days-------An advance doesn’t always fix this problem, if it doesn’t then isn’t the ISO just making the merchant lose their property for now cents on the dollar to you?
2) Consolidations since we do not have a net cash minimum rule for the client------makes sense
3) Looking for a larger loan amount 2x - 5X average monthly deposit (which merchant isn't looking for a larger loan amount)------owning a property doesn’t make a merchant be able to afford more, tough to again put someone in a scenario where they will most likely default and lose the only thing they had4) No minimum number of deposits required------makes sense
5) Open to lending to almost every industry since we have collateral------makes sense
6) Larger deals are our specialty 350K - 2 million------makes sense
7) Looking for a lower interest only daily or weekly payment (especially popular on our consolidations) ------makes sense
8) No minimum balance requirements----I still fail to see how if a merchant keeps a 100 daily balance why having property now makes them afford 600.00 a day as an example
9) In business as little as 3 months ok as long as deposits are 25K or more per month------makes sense