Alex Shvarts

So you take $100 million, you're buying 130 worth of receivables, right?

Um, you're going to turn that money probably one and a half to two times a year.

So with a hundred million, you're not going to buy 130.

You're going to buy 200, maybe 260 million of receivables because you're collecting money and putting it back out.

Right.

And then you'll deduct your fees, your expenses and your cost of capital.

Um,

approximately in a good year, maybe about 16% to 18% return.

It's hard to say.

Look, OnDeck has lower rates that they're trying to do these deals at.

And

I mean, they're great.

We work with them in partnerships sometimes, but hard to say.

I don't know.

I spoke to someone there and they said, look, our defaults are about 12%.

You know, defaults is one thing, actual write-off is another.

So it's hard to read.

Yeah, once they've reached the agreement, basically they're not remitting any of the receivables that we purchased.

Yeah, we reach out to them.

We try to get them back on track, find out what's going on.