Hello Direct Lenders:

We have an D/F paper deal. 20K per month, ADB (normalized over 4 months) is $1563/month and the average is 7 deposits with some months the deposits being as low as 4. The industry is home healthcare. The issue is that in February the merchant had 7 NSFs with 5 days being spent in the negative. Prior to that they seem to have no more than 5 NSFs per year as Dec/Jan were clean.

No real estate. Help much appreciated.