The Ledger
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Chris Doyle: Billd originates roughly $8 million in loans per month
“So we're, you know, we're probably doing around eight million a month right now.”
Chris Doyle: Billd nets ~10% spread on low-teens warehouse facility
“Yeah, it's our warehouse facility, so kind of fully baked in the low teens. So, you know, take that, let's call it 10% cost, 20% income, so you have a net 10, right? And that's very, very different than any kind of consumer lending, and probably different than…”
Chris Doyle: Other small business lenders see 10% to 20% annual losses
“Sub three percent in small business lending. I mean, you're talking about 10 to 20% annual losses for some of these other lenders.”
Chris Doyle: Billd turns over its loan capital three times annually
“Relative to other lenders, very, very low balance at any given time because we churn it three times a year. So in any kind of big, like broader economic effect, we could just shut down originations. Three months later, we have zero balance.”
Chris Doyle: Billd has roughly 350 active subcontractor borrowers
“Yeah between, probably about 350 right now.”
Chris Doyle: Billd customers average $350,000 in annual material purchases
“So we're focused on that because each customer really is probably, you know, we don't know cause we don't have the full lifetime cycle of data, but you know, around 350,000 of purchases per customer which is great, right? And that's from an annual standpoint.”