[GSilverman]

Let me guess...submissions & fundings at record levels

Doubtful

This board is all but dead

[Lax101]

Let me guess...submissions & fundings at record levels


Doubtful

This board is all but dead

Ramping up. Stay positive.

[StackMonster]

Let me guess...submissions & fundings at record levels

Doubtful

This board is all but dead

We had a record first quarter. April has been VERY slow MTD, but the pipeline is full and we should be funding 10-15 deals before the weekend. So far I am extremely bullish on 2017. Good luck everyone!

[GSilverman]

Record Submissions, Record Funding, Zero Defaults, Record First Quarter


...signs of a healthy and thriving industry!

[MCNetwork]

CAN Capital is alive and well GSilverman!

[Kevin Henry-Seacoast]

I have seen a fair amount of ugly balance sheets and there are some fishing expeditions or fake deals in the market. Business owners are very shy about giving information because they do not know who to trust. That being said, submissions are down a little. Closed deal numbers are up as people recognize we are a very cost effective solution, we do what we say, and we offered a value added solution to a problem.

[dpFund]

Overall very positive. I agree with Kevin that the Balance Sheets we are seeing have been ugly though. But funding is up 50% over Q1 of last year. And if I include the real estate funding I am actively doing now (with rates in the 8% - 12% range), fundings have doubled over Q1 of 2016.

[GSilverman]

you guys crack me up

[WestCoastFunding]

My favorite file was the one floating around with 9 advances.

[GSilverman]

Honesty, finally.

[MCNetwork]

The low rate funders are losing their shirts and the high risk funders are doing pretty well, despite having much higher default rates. However, the debt consolidation vultures pose a serious threat to the high rate guys.

[GSilverman]

Agreed - A Paper Funders doing it for practice.

[MCNetwork]

They're doing it to grab market share. But unlike Amazon, which did the same thing and lost money for many years before turning it around in a major way, the low rate funders just keep on digging a bigger and bigger hole for themselves.

[isaacdstern]

The debt consolidators pose a serious risk to everyone, not just the higher rate funders.

[MCNetwork]

Isaac, the debt consolidators usually target the merchants with banged up bank statements (NSFs, multiple advances, bounced MCA payments). I would think the A paper merchants in good standing who have low rates and solid bank statements wouldn't need their services.

[Andy]

Isaac, the debt consolidators usually target the merchants with banged up bank statements (NSFs, multiple advances, bounced MCA payments). I would think the A paper merchants in good standing who have low rates and solid bank statements wouldn't need their services.

They are targeting everyone. They charge merchant fees for, among other things, the amount they can settle for. So where is the bigger potential fee- a merchant 1 month into a 3 month deal, or a merchant 1 month into a 12 month deal? In our view, a 12 month 1.36 is a great rate, but plenty of people still view that as an insanely high rate!

Not to mention all the merchants who have balances with both A paper funder and high risk funders.

These companies hurt everyone, including the merchants.

[WestCoastFunding]

Isaac, the debt consolidators usually target the merchants with banged up bank statements (NSFs, multiple advances, bounced MCA payments). I would think the A paper merchants in good standing who have low rates and solid bank statements wouldn't need their services.

Targeting everyone, but seems like especially stackers - many of whom start with A paper and end up taking highest rate positions. So it's really everyone at risk. Let's not pretend many B-F funders don't salivate at the thought of coming behind OnDeck.

[MCNetwork]

I guess it's the new MCA food chain. B-F funders prey on the A funders and debt relief guys prey on B-F funders!

[mcaguru]

Cresthill/Mantis never discusses numbers publicly (perhaps why we are not listed in some of the recent rankings). If you want to however use commission payouts to ISO's as an indicator seems the industry is very healthy year over year.

Regarding debt consolidation companies. I cant comment on them.. if they were publicly traded companies i would not advise anyone rush to buy shares in them just yet).

[MCNetwork]

This is misleading because commission payouts are inflated due to excessive stacking. One merchant can pay commissions to five different ISOs whereas a few years ago this wasn't the case. Back in 2013, stacking was a dirty word. Now it's common practice and funders on this board openly brag about being 2nd to 10th position stackers. Even some A paper funders do 2nd positions. A better indicator of the industry's health would be to measure growth of first position originations.

[GSilverman]

Archie knows funding and is telling the truth.

[mcaguru]

i never promote the word stacking. I personally look at a daily ACH debit of $199 a day over the next 140 days no different then a construction company looking for capital and we discover $199 a day is being spent at ace hardware for paint.

[HDF]

I've never seen an Ace Hardware Contract for paint nor seen them on any statements clearly indicating that a binding formal agreement to pay and comply was executed by both sides.

[MCNetwork]

i never promote the word stacking. I personally look at a daily ACH debit of $199 a day over the next 140 days no different then a construction company looking for capital and we discover $199 a day is being spent at ace hardware for paint.

Whatever helps you sleep with a clear conscience. I never saw Ace Hardware contracts with an explicit no-stacking clause.

[skideeppow]

I have been saved in March and Beg of April by very large deals, but numbers of submission are way down. Trying new lead generation but not doing well with it.

Seems things have slowed for me.