Chris Doyle: Billd records full loan origination volume as revenue
Chris Doyle · Billd Construction Fintech Lends $100m to Subcontractors, Makes 12%+ Spread · Jan 2, 2021 · at 14:12
Chris Doyle, CEO of Billd, explains why the company books total originations as top-line accounting revenue rather than just the lending spread.
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“We'll probably, well, we actually take the whole thing as revenue. The whole origination. And the reason we do that is because it's an installment sale. So we purchase the material and resell it to the contractor”
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