Anonymous asked Bill Morgenstein, 5/19/2016 7:39:55 PM
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What do you think of new non-bank lenders like Lending Club and OnDeck?

2 Answers, 0 Replies
5/19/2016 8:01:46 PM,
Bill Morgenstein replied:

These 2 lenders currently dominate the non bank lendeer space. For small to medium sized businesses they are very viable lenders since banks do not normally lend in relatively small amounts due to the cost of  underwriting. Note also that we are paid consultants for sales traing and MCA (merchant Cash advance)matters, including to to banks and hedge funds companies. 800-753-7840

6/25/2016 8:48:52 AM,
Bill Morgenstein replied:

Both are very large and successful. Lending Club is basically a broker, which is all right except that they apparently charge Up-Front fees!