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12-18-2016, 02:54 PM #1
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- Mar 2016
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Thoughts on CAN Capital
American Banker just posted an article that CAN laid off 136 people.
http://www.americanbanker.com/news/m...1092920-1.html
Any thoughts, any inside info on if they are going under?
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12-19-2016, 09:38 AM #2
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- Oct 2016
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It's one thing to reorganize to position yourself better, but CAN seems to be in crisis and will do anything for cash and to reduce risk exposure. My client offered them a 20% reduction in what he owed to them to payoff early, and they accepted.
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12-19-2016, 09:55 AM #3
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- Sep 2014
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CAN's shift in their renewal eligibility policy from 50% to 75% paid down laid bare the fact that a very large chunk of their portfolio was only still in business because they kept renewing them. Renewals/double dipping/payoffs are arguably a greater threat to this lending market than stacking. CAN is policing their own book and if/when they open their doors again, their credit policy will likely look a lot different. The other big lenders will likely take a page from CAN's playbook and tighten up on renewals and payoffs too. Also, with the announcement of the OCC offering limited charters to fintech companies, a move to more conservative underwriting is heading this way for any company going that route. The OCC isn't going to charter any lender that doesn't actually UW capacity to repay their loan. Lending into top line revenues is going the way of the dinosaur or will only be done at rates seen in the stacking space.
The days of riding the gravy train with biscuit wheels are over, folks."Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
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12-19-2016, 10:36 AM #4
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12-19-2016, 11:52 AM #5
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12-19-2016, 11:46 AM #6
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- Sep 2012
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12-19-2016, 12:43 PM #7
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12-19-2016, 10:42 AM #8
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- Sep 2014
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"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
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12-19-2016, 10:58 AM #9
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12-19-2016, 11:11 AM #10
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- Sep 2014
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Also, American Banker is reporting the wrong figure. CAN laid off 250. They shuttered their entire operation in Costa Rica and the rest were in the GA office.
"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
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12-19-2016, 11:26 AM #11
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- Mar 2016
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12-19-2016, 11:52 AM #12
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12-19-2016, 11:53 AM #13
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12-19-2016, 11:54 AM #14
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- Jun 2016
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- 6
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12-19-2016, 12:15 PM #15
The question I have, given CAN's high profile partnership with Entrepreneur Magazine, where are all the leads generated by that going in the interim?
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12-19-2016, 12:25 PM #16
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- Jul 2015
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12-19-2016, 12:28 PM #17
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- Dec 2013
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I am not so certain that Entrepreneur Venture produces enough to even justify the cost. I had back in the day at 2nd source half page ads in 50 Publications (at the height of 2nd source) and first few issues i caught the low hanging fruit seekers and then it would dribble off to a loss ROI wise.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-19-2016, 12:32 PM #18
I'm talking about this, which appears all over their online posts, getting millions and millions of views -->
screenshotcan.jpg
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12-19-2016, 12:55 PM #19
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- Dec 2013
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- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-19-2016, 02:03 PM #20
Thoughts on CAN Capital
I am hearing that the portfolio is being auctioned off, anyone else hear the same?
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12-19-2016, 02:16 PM #21
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- Jun 2016
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I just had a long conversation with an executive at CAN, and they will be back to funding renewals in the next week or so. This person expects them to start accepting new applications again in early Jan. That said, they are making (and have already made) major changes to how they will be operating.
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12-19-2016, 03:18 PM #22
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12-19-2016, 03:33 PM #23
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- Jun 2016
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12-19-2016, 03:48 PM #24
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- Mar 2016
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01-24-2017, 10:53 AM #25
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- Nov 2016
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Is the auction over?
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