This is the start of #portfolio-performance
Anonymized default and renewal data.
Members only — nothing here leaves Funder Council
Monday, Oct 12
Q3 cohort data is up. 2nd-position restaurant defaults are running 9.4% vs 7.6% plan. Trucking recovered — 6.1% vs 8.0% plan.
2nd-position restaurant default rate
9.4%+38.2%
Our book tracks almost exactly. The spread is concentrated in files under 12 months TIB.
Tuesday, Oct 13
Renewals are the bright spot: 41% of merchants paid to 50% renewed within 30 days, up from 33%.
Same here. Renewals are where the margin is now. Anyone still paying brokers less on renewals is going to lose them.
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