[abfunders]

Funders or Lenders - IOU & Ondeck are funders ( MCA Product) A lender is more in line with a Bank Product (SBA7(a)

Actually, Dave, both IOU and Ondeck (and Rapid and WBL for that matter) boast that they provide loans, and they are loans. While I'm not an expert in this, I think it's that the bank partners that gives them the licensing to charge interest above the legal usury limits that "regular" funders are not allowed to.

[fundingtoday]

Throwing SOS Capital in the mix.
POC: Jim Scavuzzo jscavuzzo@soscapital.com

[IndustryVet]

Actually, Dave, both IOU and Ondeck (and Rapid and WBL for that matter) boast that they provide loans, and they are loans. While I'm not an expert in this, I think it's that the bank partners that gives them the licensing to charge interest above the legal usury limits that "regular" funders are not allowed to.

This is absolutely correct regarding OnDeck. I'm a former OnDeck employee. Business loan and security agreement supplement on our contracts. We never purchased future receivables.