Nathan Latka

Those are good economics.

They optimize for about a 16% take rate NIM sort of all in, which is very healthy.

91 folks full-time on the team.

They're funding these deals with prom notes on their own balance sheet, and then also sourcing some of them out to capital partners as well.

Hey folks, my guest is Alex Schwartz.

He's the CEO of FunKite, one of the fastest growing FinTech companies in New York that provides funding to small businesses across the US.

The company was founded in 2015 and his company utilizes a boutique funding style offering business owners a flexible variety of products and services that can be tailored to fit their individual needs.

Before FunKite, he engineered and sold proprietary technology to the greater FinTech industry.

Alex, you ready to take us to the top?

Let's do it.

All right.

Give me your, just to get us all in the right frame, right off the bat, give us your sweet spot deal.

Is it a hundred thousand bucks into a small business doing a million a year in revenue?

Okay.

And any specific sector, e-com, restaurants?

And why is that?

I mean, there's a lot of fintech firms that are doing on-balance sheet lending to truck drivers or truck companies that buy the truck.

And then you can sort of discount cash flow, the trucking revenues, and they lend against that.

Why are you staying away from that?

And what's the typical term though?