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05-10-2016, 03:17 PM #1
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Wells Fargo entering the space
Tommy Stein
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05-10-2016, 03:26 PM #2
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- Jan 2016
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Their is a similar article on debanked. I am really interested to see how Wells will underwrite and structure these...
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05-10-2016, 04:02 PM #3
Is this through a strategic partnership in our space to utilize the risk scoring models like odc/chase relationship or is wells doing this stand alone? Wells already provides credit facilities for some companies in this space
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05-10-2016, 04:06 PM #4
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- Jul 2014
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I'm guessing bank UW guidelines, A+ credit, TIB and cash flow. The shareholders didn't buy in to fund Billy Joe's Trucking with a 540 FICO.
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05-10-2016, 04:12 PM #5
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- Dec 2013
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I Wonder how the A paper "first position only funders" will handle 4 Millions Merchants that are not touchable any longer for funding. I believe if Wells Fargo enters the space they will acquire deals extremely fast by way of informing every business account holder (based on pre-underwriting prior to even reaching out to customer) that they are approved for 25k or 18K, etc Once merchants take on the loan it will lock-up Millions of merchants from the first position only players. Do i see it wrong ?
Last edited by mcaguru; 05-10-2016 at 04:15 PM.
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05-10-2016, 04:15 PM #6
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05-10-2016, 04:15 PM #7
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I was talking more along the lines of will they fund 50-75% of gross volume, factor rate or apr (depending on which what is the range they approve), etc... maybe they even have reduced credit requirements if its only a 12 month term blah blah blah
Like I said, I am interested to see exactly how Wells will structure these " small business loans between $10,000-$35,000" and how similar/different it will be compared to the MCA's we all work on a daily basis
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05-10-2016, 04:17 PM #8
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05-10-2016, 04:24 PM #9
Debanks article said requirements were customers of wells for one year, and, strong cash inflows. It didnt break down fico or other requirements. Also a customer of wells can mean many things as they have a broad range of services.
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05-10-2016, 10:18 PM #10
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- Jul 2014
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