[Karen37a]

...channin thats funny.


West Coast thats smart....good idea.

[MCAVeteran]

Their loans already come with a prepay discount.

[HDF]

What is the company saying if anything?

[Karen37a]

BTW. If Wells is out...Does anyone think Web Bank or BOFI is staying in??????????????????????????????

Certain people are going to have to go to Large Hedge Funds, Large Brokerage firms or European Banks...I do not know of any other way to get money. And I heard some people are burned on the street.

Thats why I said weeks ago I was retaking the securities exam. .

Top Mca shops are going to make it out the other side... I am going to put my head down, grind it out...see you there

[staten]

Wow.... terrible strategic communication from Can. Corporate recovery is going to be all over their entire portfolio tomorrow. "Your lender is going under....I can get you a deal"

[Michael I]

If they have colletaral with those numbers wbl can loan them 50 million .
Don't worry about how they can continue business if they pay a 1.7 lol

[staten]

Execs put on leave....this is fraud. Not a Wells Issue.

[MCAVeteran]

Although wells leads the pack they still have several syndicates to tap

[staten]

No dice. Exec go "on leave" for fraud.

[Karen37a]

Can Capital....Parris Sanz The Chief Legal officer and Compliance officer is stepping in to be acting Ceo....citing collections and underperforming assets

These Lending companies including On deck are citing competition and concerns that regulators will clamp down on their business model

And the regulation lie becomes the truth



.rate rate rate everyone running around not able to sell MCAs at a sustainable rates so they drop rate and call us rip off artists etc . Tell us we have no ethics.

No Ethics because I KNEW you cant sell a MCA that low.


Regulation concerns and too low rates...which is what I said would be the demise of everyone. I am not the Lender...why wouldn't I want the lowest rates possible?????????

[soscap]

Regulation concerns and too low rates...which is what I said would be the demise of everyone. I am not the Lender...why wouldn't I want the lowest rates possible?????????[/QUOTE]

Where do you see this as being the cause? "As the board and our leadership team conducted our business reviews and looked at how we can best position the firm for future growth, we self-identified that some assets were not performing as expected and that there was a need for process improvements in collections. It became clear that our business has grown and evolved faster than some of our internal processes. As we work to improve these processes, the Board has named twelve-year CAN Capital veteran and senior executive, Parris Sanz acting head of the company and promoted Ritesh Gupta to COO, while Dan DeMeo, CEO, and two other members of his team are on a leave of absence. Over the past 18 years CAN Capital has consistently made decisions to position ourselves for growth and leadership in the industry and we look forward to helping small businesses succeed for many years to come."

[ridextreme]

https://www.ft.com/content/80d919d2-...5-95d1533d9a62


"The disclosure from privately owned CAN, which says it has supplied more than $6bn of loans and other credit products to small businesses since it was founded in 1998, comes amid broad fears that a new crop of online lenders has extended more credit than customers and small businesses can cope with."

that is basically the definition of stacking

[soscap]

https://www.ft.com/content/80d919d2-...5-95d1533d9a62


"The disclosure from privately owned CAN, which says it has supplied more than $6bn of loans and other credit products to small businesses since it was founded in 1998, comes amid broad fears that a new crop of online lenders has extended more credit than customers and small businesses can cope with."

that is basically the definition of stacking

That's not what CAN said but what FT is. "we self-identified that some assets were not performing as expected and that there was a need for process improvements in collections." I heard that they were using old software that wasn't meant for daily payments and their process was killing them. Note that what I said is unconfirmed.

[mcaguru]

https://www.bloomberg.com/news/artic...-promotes-sanz


https://www.ft.com/content/80d919d2-...5-95d1533d9a62

[brokerCompany]

so with CAN gone, Deal Struck gone and knight. What funders are stepping up and filling up that space?
What other funders will close up?

[Karen37a]

socap...I cant explain again ...read my old long winded posts

[John Galt]

DealStruck is not gone, just tightened underwriting.

[Jonathon]

Looks like Funding Circle is tightening the belt too, required FICO increased from 620 to 660 recently. I wondering how their loans are performing.

[Karen37a]

I would take the can uccs if you were serious lol

[omegafund]

got a lot of emails from other funders already advertising CAN is down send deals their way

[soscap]

DealStruck is not gone, just tightened underwriting.

https://www.crowdfundinsider.com/201...ts-operations/

"Although we are not currently originating new loans, we are continuing to provide our clients with the high-level of service they have come to expect from us. Over the past few years, we’ve helped thousands of small businesses create thousands more jobs, and we’ll be looking for strategic options to allow us to continue delivering on our mission to provide unique, appropriate, and affordable financing to small businesses nationwide."

[soscap]

socap...I cant explain again ...read my old long winded posts

I have and that's why I'm asking...

[Anthony@torro]

so with CAN gone, Deal Struck gone and knight. What funders are stepping up and filling up that space?
What other funders will close up?

I feel that YSC EBF Cresthill would take over most of Knights business.

[brokerCompany]

So you can submit deals to them for funding?

DealStruck is not gone, just tightened underwriting.

[anonymous]

I feel that YSC EBF Cresthill would take over most of Knights business.

I feel like there are a lot of options between EBF pricing and that of YSC/Cresthill (no offense to either).