[GSilverman]

Rumored the book being offered has +/-$450M face value. Believe best 4 months were +/-$80M each; ended June 06 - 7 months ago.

[mcg168]

Believe best 4 months were +/-$80M each; ended June 06 - 7 months ago.

No idea about the rumors you mention, but I know they were funding north of $100mm every month this year through September. October was even a big month for them despite implementing the daily funding cap towards the later part of the month.

[GSilverman]

Never hit $100M per month - ever. Your posts are so CAN Positive and full of mis-information. Post after Post of nonsense. Are you a current CAN employee or a hired PR Agent?

[mcg168]

Never hit $100M per month - ever. Your posts are so CAN Positive and full of mis-information. Post after Post of nonsense. Are you a current CAN employee or a hired PR Agent?

I'll just leave this right here.... http://debanked.com/2016/04/the-top-...iness-funders/

You would agree that in order to hit $1.5 billion for the year, you need to have a few months (aka every month) where you fund over $100M?

[GSilverman]

What public source did the funding figure come from? It didn't.

$1.5B was a guess. That number was never released by the company.

You must be an employee.

[mcg168]

What public source did the funding figure come from? It didn't.

$1.5B was a guess. That number was never released by the company.

You must be an employee.

OK - if we're going by that logic, where did you come up with these numbers and information? "best 4 months were +/-$80M each; ended June 06 - 7 months ago."

[GSilverman]

Doesn't matter. They are toast. Get your January check yet?

[ADiamond]

you all sound like complete fools... even the employees at can capital dont even know WTF is going on obviously to the point that they stayed and got laid off. so whatever any of you are hearing from your CAN ISO rep is exactly what their management told them to tell you or its just some BS that another ISO made up.

here's an idea... send me your can capital renewals, i will buy out their balance. buy rates as low as 1.20 on CAN renewals let's go...

[FundingCzar]

CAN is having a fire sale. I won't post exact payoffs out of respect for friends that still work there, but they are settling for pennies on the dollar right now to clients that are calling in.

[ADiamond]

CAN is having a fire sale. I won't post exact payoffs out of respect for friends that still work there, but they are settling for pennies on the dollar right now to clients that are calling in.

IF the client pays off, not another lender. been thru this already. unless they changed their mind from a month ago and now they realize how screwed they really are?

[staten]

Think the departed C Level could be liable for fraud?

I think Wells would go after mgt and Board. They will both accuse each other......Interesting with Wells (perhaps) going after QED who just signed a deal wth Fifth Third. Makes you wnder if Fifth Third did any diligence on QED.

[WestCoastFunding]

IF the client pays off, not another lender. been thru this already. unless they changed their mind from a month ago and now they realize how screwed they really are?

I've personally had clients get payoffs with reductions of more than 20% so the merchant could meet the 50/50 split. Had merchant approved for $120K but owed CAN $76K. He got the payoff down to $60K.

[CreditGuy]

OK - if we're going by that logic, where did you come up with these numbers and information? "best 4 months were +/-$80M each; ended June 06 - 7 months ago."

Out of his ass like in the last thread.

CAN completed a securitization late 2014 with S&P and DBRS. The prospectus has a lot details. Their book end of 2Q 2014 was $200M in assets under management. And in that same quarter they show a funded amount of $216M, which is $72M a month. That roughly paces them for a $1.5B run rate in 2015. They didn't grow 50% YOY in 2016, because nobody did (No, MCAguru, not even you.). Let's assume they grew 33% (which is generous and about what ONDK's last 10Q showed), that would pace them to $2B in gross funding in 2016, annualized, which is $166M a month. Certainly reasonable. The caveat though is that the same prospectus shows that in 2014 63% of their book was renewals. Renewals being what they are, it is fair to assume that number got much higher. I heard that over 75% of their book was now renewals. All in, I think it is very safe to say that they were booking $150M a month. If renewals were really 75% and most were right around 50%. We can take the $150M gross, multiply by 75% to get $112M in renewals bookings and $38M in new business. Only 50% of the renewals is net funded money, so $56M. That would put net funded amount around $94M. If renewals are less than 75% that net funded amount obviously goes up.

[GSilverman]

you will be proven wrong when the story breaks.

[Sean Cash]

I have/had a spreadsheet somewhere that sourced annual funding figures for companies. Nothing was a complete guess. All the numbers came from somewhere, most supplied from the companies themselves. But even then, that's based on self-reporting. I am unable to locate the spreadsheet and see at the moment where CAN's came from so for now, check this out:

• 3/12/13 - CAN Announced crossing $3 billion lifetime https://www.cancapital.com/news-pres...all-businesse/
  
• 4/30/14 - CAN Announced crossing $4 billion lifetime https://www.cancapital.com/news-pres...nesses-funded/
  
• 5/7/15 - CAN Announced crossing $5 billion lifetime https://www.cancapital.com/news-pres...ion-milestone/
  
• 4/8/16 - CAN Announced crossing $6 billion lifetime https://www.cancapital.com/news-pres...rking-capital/
  
• 10/13/16 - CAN Reportedly crossed $6.5 billion lifetime http://www.prnewswire.com/news-relea...300344354.html

This would seem to indicate that they were doing $1 billion a year consistently with renewals. Companies will sometimes choose to report a milestone at a time that is PR-convenient, meaning that if something happens in January and the company plans to do a big marketing push in March, they might wait to report that milestone in March to maximize visibility and exposure. So while a billion a year is probably close to right, the dates in which the milestones were reported might not be so there is a margin of error.

And for fun:

• 2007 - CAN reportedly crossed $1 billion lifetime http://www.marketwired.com/press-rel...es-1547697.htm
  
• 8/9/11 - CAN reportedly crossed $2 billion lifetime http://www.marketwired.com/press-rel...es-1547697.htm

[JCsfscapital]

We can refi all of CAN's old deals at Strategic. PM me.

[GSilverman]

Interesting...Back in January, a few of the board pundits erroneously reported CAN resumed funding renewals. Now all the pundits have vanished. Winter vacations in Bermuda?

[GSilverman]

Top end - book worth $.30 on the dollar.