Ann: Spenda secures $50m debt warehouse facility, page-426

muppet, delusional, rude shock, absolute nuts, beyond comprehension, transaction volume, lending experience, over it, reincarnates, numbers.

Plucking random words out of context is easy.

"I manage ten times the current loan book with 3 of us, these guys have 12-20 guys for $10m"
That's great, do you run your own finance broking business or do you work for a bank?
I have a client that has a loan book of $800m, but their just a finance broker and lend to residential mortgage clients mostly and they don't have to manage a credit team, they just put the deals up to the lenders.

SPX are building a team to manage a loan book of many multiple of their current book or even their DW facility. $50m loan book is not their long term target.

It's funny that you think the DW funder has rocks in their head after they've done months of DD on SPX and had access to far more information about the inner workings of the business than any of us have had to date... You really think that someone is going to go through the DD process and come to the end and say "looks pretty sh#t, but what the heck it's only $50m, who cares"??

"I guess" and "I suppose" are one of his mannerisms. It's not him saying "I'm only guessing what's going on in the business". More often than not, he says "I guess" or "I suppose" as a lead in to explaining something by analogy or example such as "I guess you can think of it like..."

Just keep grinding that axe Warnie.