[Chambo]

Does is come as any surprise that these crazy low rates are only offered by new companies? Swift is big on their 14.99 product too. I had a shakey credit restaurant client that got offered a 14.99/6 by swift and asked me to match it. I said no thanks and go with the swift deal.

If these funders can stay in business and make money then good for them. The mca/unsecured loan biz is very risky. It's all fun and games till deals start going south. My guess is they either adjust rates to match defaults or go out of business. I know first hand that this is not a get rich quick business. It may look like it is from the outside but once you are inside you see the world differently pretty quickly.

Just like On Deck did. When they first came out, they offered 12 month 1.09's. Then it dropped to 6 month 1.12's, then 1.18's. Now you see 1.25's to 1.35's offered by them & they are STILL not profitable.