[Cfairbank]

Thanks for the mention guys! Yes, we max out at 100K. Advances available in all states except California, loans available in around 35 states. No minimum credit score, no net required by merchant, no max number of positions consolidated.

[ADiamond]

Thanks for the mention guys! Yes, we max out at 100K. Advances available in all states except California, loans available in around 35 states. No minimum credit score, no net required by merchant, no max number of positions consolidated.

how are you guys on credit? or what are major underwriting factors for you?

[Cfairbank]

how are you guys on credit? or what are major underwriting factors for you?

For advances, credit we are flexible -- we have funded sub-500s to upper 700s. For really poor credits, we will focus on how recent the they have defaulted or been delinquent, and how core the asset is -- if they had several defaults or a bankruptcy two or three years ago, no problem -- if they stopped making payments on several debts the past two months, that's more of a problem.

Three biggest factors we look at are deposit volume (fund up to 125% of deposits), consistency (infrequent deposits fine as long as they are at least semi-regular/predicable) and advance/loan repayment history -- if they have been consistently making payments on higher cost advances for an extended period of time, we will be aggressive. That said, they also need to have a consistent payment history on other core business assets (e.g. if a storefront, restaurant, or other brick and mortar business and they are behind on rent, that is a deal killer). We have daily, weekly, bi-weekly, and monthly options available -- we tie the ACH draws to deposit frequency. Email me at address in signature for full program summary if you'd like more info.

[NCL]

Carl,

When you say max out at $100K, is that mean their total balance can't go over $100K?

[Cfairbank]

Carl,

When you say max out at $100K, is that mean their total balance can't go over $100K?

Yes, total amount sent is 100K or less between any funder that is paid off plus amount sent to merchant, if any. We have to be the only position post-consolidation, so we have to consolidate all positions and total balance has to be 100K or less. We typically have no origination/underwriting fees, unless we are consolidating 3 or more positions -- that cost is included in our factor -- so we have a true 100K max, not 100K minus thousands in fees.