Yes I guess so
It's a fairly dangerous precedent to set given it's a very small loan book and it could be heavily weighted towards larger loans ie say 5 x $1m loans and the remaining $7m is $20k - $150k loans
The makeup of the book is important and as they do a factoring type loan on invoices offering 60-90 repayments it can be short lived revenue, maybe they need to show a breakdown of the loan amounts and loan terms to determine how recurring it is could be a good way
They only increased the loan book 600k last Q at that rate it will take 10 years to lend out the $50m
Or did the loan book drop by say $1.5m during the quarter and was replaced by $2.1m in new loans - that's the question which would help understand this recurring logic
Yes I guess so It's a fairly dangerous precedent to set...
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