Fund Merchants, Create JobsMay 30, 2014 | By: Sean Murray
OnDeck Capital CEO Noah Breslow was on Bloomberg TV Thursday. In a way, he’s become the unofficial spokesman for all daily funders, companies of all shapes and sizes that deal in daily payments rather than monthly. Breslow was forthcoming about the high annualized costs of their loans but mentioned they’ve come down significantly from when they first started 7 years ago.
Perhaps the best takeaway in this 2 minute, 46 second clip is the mention of creating 22,000 jobs.
Are the loans expensive? Yes. Can a lot of good still come from them? Absolutely.
Great work. I think other companies in the industry should follow suit and conduct similar economic surveys. DailyFunder is currently running one of their own that’s geared towards alternative business lending and merchant cash advance professionals. You can take that anonymous 2 minute survey here.Last modified: May 30, 2014
Sean Murray is the founder of deBanked, an 11-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper note investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.