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Johny Fernandez: What is a
default file?

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Sean Murray: What is a default
file? A default file is a is a

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merchant who has defaulted with
somebody else means they took,

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they took a business loan and
didn't pay it back. Or they used

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a merchant cash advance and
ended up in some type of

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contract breach situation. Maybe
there was litigation, maybe

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there was some type of, you
know, settlement or something.

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But a default file is a is a is
an applicant that has defaulted

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somewhere else. And that is
among the highest risk factors

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that are out there, probably
more so than, you know, the

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general ones like time and
business and so forth. Because

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if you've already defaulted on a
competitor, you know what's

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gonna happen with your deal,
right? Sometimes there's a good

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story behind why a file why a
why a business defaulted. Maybe

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it was a, you know, a stroke, a
stroke of bad luck. Maybe there

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was a  miscommunication. And
maybe it was a long time ago,

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maybe this maybe this was a
default that happened five years

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ago. And this type of risk
doesn't exist anymore, but a

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default file. Usually people
will call a default file,

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because it definitely
distinguishes it from other

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regular type of high risk deals
you would call it you would call

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it a default file.