[Zach]

After trying Fundingcircle, Fundation, and Dealstruck, I've come to the conclusion that they cover an area of the space that is necessary and frankly underserved. 7-19% APR with monthly payments and longer terms isn't something most cash advance brokerages sell often.

The point is that these companies, however much of a headache they may be, provide a product that simply isn't available elsewhere. Their low funding ratio makes perfect sense to me. Think about it: how many ISO's in our space really pre-underwrite their paper? They probably get inundated with garbage all day, hence the low approval ratios.