[Zach]

This deal is beyond dead.

- He can't get approved for anything that would even pay off the NAB/CFM advance balance of $48,000 due to the required 50% - 60% net rule that most companies have.

- Then on top of that, he's significantly behind with the landlord to the point of potential eviction.

- To do this deal, someone is going to have to come in and approve the guy for about $70,000 which would have him netting nothing, it would all go to pay off NAB/CFM and the Landlord.

I'm not sure what the basis of that $70,000 would be? Zach said he could probably put his house on the line? But my question is, if he has a good amount of equity in the house, could he have not gotten some sort of traditional equity loan/line already? Wouldn't that make more sense than using your house as security for a 6 - 12 month 1.30 to 1.50 factor advance?

It is likely that the borrower simply does not qualify for a second position deal against their primary residence. Or perhaps they own land, which virtually no lenders besides us will provide cash out against. Or maybe they have 2 mortgages out and need a 3rd or 4th position. There are plenty of situations where our product is the most viable option, or the only option.