[MCNetwork]

Yes by internet-based leads I mean companies like Lendio and Blindbid. The reason why the closing ratio is low is because from my experience 20% of the leads are unreachable, 30% of the leads you have a great conversation and never hear from them again and 20% have sticker shock when you first speak to them about rates and they lose interest. The remaining 30% you actually get full packages in and you're lucky to fund 3 to 5 deals. The saving grace of these internet leads is that you can usually get a refund if the merchant does not qualify for an advance or they are not interested in financing at all.

Sad statistics but true...