Lenders

“As a lender, you know this. You are diversified. You are senior where you perceive risk. You look for a hard collateral. And you accept that you can't make a decision for 20 or 30 years. You can make a decision for three or five or seven years in what we're do…”

“The willingness to put up with random obnoxious things like low quality or crappy terms or products that pretend to be something they're not, like all of that is just gonna get flushed out very quickly. And companies that have business models that are buried i…”

“They projected it would take until 1991, 30 years. They paid it off in 1972. The lenders made about twelve million.”

“When I hear these comments from Sarah Fryer, what I'm hearing is we have a bunch of lenders that would happily finance this if there's a government guarantee that they won't lose money, and that's very different.”

“Perhaps because they have this, they have to be so paranoid about the downside, this breeds in them a thoroughness, a thoughtfulness, that's not always the case with equity investors, for whom maybe that intuition of, oh, this team, this thing could go far is …”

“For us, fortunately, our business is counter-cyclical. So we do good in a good economy. We do well. We do really well in a down economy because if you're a business owner and credit is easy to access and financing is easy to access, if all of a sudden the econ…”

“Like, oh, I need to be planning my capital, you know, 12 to 18 months in advance. So if I'm gonna have four months of runway in January, I probably need to be talking to a lenders a year before.”

“And so dealerships generally get basically a lead gen fee about one and a half percent of the amount financed of the car, but the lender is making closer to 10% of the amount financed, right?”

“Over the last 10 to 15 years, the private equity world was making money off lenders' backs. Lenders were getting relatively low returns by historical and current standards, and that return that we were not getting was going to the private equity firms or their…”

“You might be junior in the capital stack, but if you turn off the person's account, you suddenly became senior in the capital stack.”

“The reason the private equity firms can't get the financing is because they're still trying to buy deals at valuations that are too high relative to what lenders are willing to lend.”

“Buying non-performing loans requires you to have capital and the ability to move quickly. These transactions can close in as quickly as five days, but lenders want certainty of closure, and they want to know that you're going to do what you say you're going to…”

“The lender makes his monies only in the last few EMIs. If you have, let's say, a 60 month loan, the first 55 months, if he repays well, you don't make monies. You know, you're getting your principal back, you're, you know, repaying your borrowed monies, you're…”

“Lenders are starting to lend off of Airbnb on a purchase, which they've only been doing on refis.”

“And then if I put my own financing product into my SAS product, now I'm competing with all of the 60 lenders that I have in the platform.”

“People don't borrow money from lenders anymore. They borrow money from their software providers, and these software providers have, one, they're in the flow of funds of what they do. They have intimate relationship with the customers. They can use that relatio…”

“As you get larger, I think the prices come down to more around 17, 16, 17, 18%. And that's, that, I think that's much more reasonable for a more mid-sized company. You know, if you're over three million dollars, I think you could, you start creeping into that …”

“Lenders don't invest in ideas. Everybody's got ideas. They invest in you. People loan money to the person, not to the business, not to the idea. They have to feel good about you.”