Greg Baker
Seattle, WA (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Encore Capital Finance
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Startup
Location:
Seattle
Industry:
Investing
Year Founded:
2007
Number Employees:
1-10 people
Description:
Our company makes short term loans at an APR of 30% to profitable companies in the restaurant industry seeking capital for expansion, new equipment or seasonal inventory. Our loans are repaid through daily collection of payments from the restaurant's credit card receivables. We have an exclusive sales and marketing agreement with one of the nation's largest credit card processors to lend to their merchants which provides a steady stream of qualified leads with little sales and marketing expense to our company. We have operated for one year lending to a test portfolio of 30 clients with no defaults. 11 of the loans have now been repaid in full.