[platformlending]

Well this just came out: http://www.wsj.com/articles/can-capi...ess-1484339531

"New York-based CAN Capital has brought in restructuring firm Realization Services Inc. for assistance negotiating with creditors...."

WOW!! At this rate, it does not look like they will be lending again soon.

[sean bash]

A more comprehensive story on this just came out today: http://www.wsj.com/articles/how-a-gr...ses-1484587393

"The errors were significant enough, the people said, to cause the company to breach covenants with its big-bank creditors such as Wells Fargo & Co. and push out three top executives."

Looks like, according to this, the execs put on leave aren't coming back.

[sean bash]

An update on their securitization http://debanked.com/can-capital-fund...ics-report.pdf

[platformlending]

Is there any more information on this?

[natashah]

CAN Capital is the worst lender you can go to, if you didn't know they defaulted in the winter and don't even have money to lend out anymore

[2xf]

I have no doubt they will fix it and get back on the right path. They hit a rough patch, but don't count them out. Advanceme was the leader for so many years and they started the industry. You don't forget how to ride a bicycle...

We have heard rumors (not confirmed), they may actually enter the space again and work with their tier 1 ISOs. Time will tell.

[2xf]

I would not be surprised ;-)

It's a good thing. If they come back with their old discipline they will do very well and bring the industry back some stability. With OnDeck and CAN C having issues it rippled negativity about the survival in the space. Therefore them coming back in is a good thing

I have no doubt they will fix it and get back on the right path. They hit a rough patch, but don't count them out. Advanceme was the leader for so many years and they started the industry. You don't forget how to ride a bicycle...

Rough patch? They would be starting from scratch, a brand new business.

[2xf]

Rough patch? They would be starting from scratch, a brand new business.

Not exactly, they have a few solid components already setup, and a list of premium 1sr tier originators ready to go. I think they will be fine, they won't be as big as they were for some time. But they will be a leader again in short time. I am bullish on their chances.