Quote Originally Posted by Yankeeman07 View Post
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.