Results 1 to 25 of 76
Threaded View
-
09-18-2015, 01:27 PM #10jotucker1983Guest
I don't know, the industry appears to be over-saturated in my opinion because while there's over 20 million entrepreneurs in the country, only about 3 - 5 million of them qualify for what we offer in terms of a cash advance or alternative business loan.
But because our pricing is significantly higher than a traditional source, the vast majority of these merchants will never consider our product. You can market to them all day long, the significant price for our product will also be the main reason these merchants will not take the financing unless they are in a situation to actually use it.
A P2P type of product (Lending Club, FC, etc) where the pricing and terms are closer to conventional sources, are more in line to attract more attention, but then with those products you are looking at a more conservative underwriting model which will offer much fewer approvals. So we are back to the same problem.
At the end of the day, it appears to me (but I could be totally off here), that we in the MCA space are only competing over the business of 100,000 - 300,000 merchants at any given time.
Similar Threads
-
Need iso/brokers help !
By mcaguru in forum Help WantedReplies: 5Last Post: 04-29-2016, 10:01 PM -
It's hypocritical for ISO's and Brokers not to deal with other ISO's and Brokers
By bdshaw in forum Business LoansReplies: 6Last Post: 02-13-2015, 11:58 AM -
Whats the difference?
By Funder Mark in forum Merchant Cash AdvanceReplies: 12Last Post: 10-29-2014, 11:47 AM -
Whats up Guys! How was February People!
By Mmarano in forum Merchant Cash AdvanceReplies: 2Last Post: 02-28-2014, 01:51 PM -
The Hard Thing About Hard Things
By JayBallentine in forum Everything elseReplies: 0Last Post: 02-14-2014, 06:38 PM