[SmartAdvanced]

So a bank like Chase, invests millions of dollars in some sort of ODX “partnership” (as if chase needs this BS technology/data/model or whatever else they wanna call these A paper 12 month offers that isn’t so genius at all), and then a few months later drops it?
Is it that easy to swap around hundreds of millions $$???

[mcaguru]

The question for investors is why did they leave .... someone can stop vacationing in Hawaii not because something is wrong with Hawaii rather they stopped taking vacations or they built there own pool and now rather relax at home -- to me it was always why did the Citi's and the Fargo and the 1000+ other midsize banks not jump on board which is what i imagined was going to happen --Simon's builds a mall and then you know without doubt other Anchor Retailers are coming on board -- No question -- that's what i was expecting to follow the JMP partnership.

[Kevin Henry-Seacoast]

The question for investors is why did they leave .... someone can stop vacationing in Hawaii not because something is wrong with Hawaii rather they stopped taking vacations or they built there own pool and now rather relax at home -- to me it was always why did the Citi's and the Fargo and the 1000+ other midsize banks not jump on board which is what i imagined was going to happen --Simon's builds a mall and then you know without doubt other Anchor Retailers are coming on board -- No question -- that's what i was expecting to follow the JMP partnership.

My guess:
-Offering 100K advances/loans to masses of asses does not move the needle for a very large bank. Add some dilution to the portfolio and they will look for an exit sign every time. The "sexiness" of the business wore off.
-There are 5 banks in the syndicate for their credit facility. Two of them are going through a transition right now.

[mcaguru]

My guess:
-Offering 100K advances/loans to masses of asses does not move the needle for a very large bank. Add some dilution to the portfolio and they will look for an exit sign every time. The "sexiness" of the business wore off.
-There are 5 banks in the syndicate for their credit facility. Two of them are going through a transition right now.

I think will see something take place... Your Bank has a 1.3B marketCap maybe they go for a takeover LOL

[Kevin Henry-Seacoast]

I think will see something take place... Your Bank has a 1.3B marketCap maybe they go for a takeover LOL

Not gonna happen.....

[mcaguru]

why you guys bought a few out of the box funding groups no ?

[Kevin Henry-Seacoast]

why you guys bought a few out of the box funding groups no ?

Marcus,

We have not acquired any advance/small loan non-bank finance companies like ONDK. We have acquired other factoring companies and ABL shops and/or portfolios of the same. We are also providing asset based lines to several factoring companies or re-factoring facilities.

The first large acquisition the bank closed was when they acquired First Growth Capital division of First Capital. That is the division that became Seacoast Business Funding. I made the introduction for the deal by introducing our division President and the Chairman and CEO of the bank.

KH

[Sachip24]

Chase doesn't need Ondeck anyways....they're moving bricks with our overdraft fees

https://www.cnn.com/2019/07/10/busin...ure/index.html