Pool Value: 5.8 million DAI
# of Assets: 11
As of July 31, 2022, the Pool held eleven (11) loans with a total value of approximately $7.0 million. One new loan was added to the pool during June, in the amount of $1.25 million. The borrower is a subscription business offering a suite of marketing services. Their customer base includes businesses in various stages of growth, from start-ups to large established brands, and operating in a wide range of sectors. Recent acquisitions have added new services to their suite, which are being integrated into their platform and creating cross-selling opportunities to its vast client-base.
Delinquencies in small business lending remain under control. As an example, securitization pools of small business lenders, such as Ondeck and Kapitus, continue to show low delinquency levels below 3-4%.
The U.S. consumer has continued to spend at a healthy pace, with year-on-year (“YoY”) growth of personal expenditures remaining positive. Recent Redbook Index readings also show strong YoY growth in same store sales of retailers. Mastercard’s SpendingPulse data tells a similar story as of July.
Real Personal Consumption Expenditures (YoY)