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06-27-2017, 10:38 AM #1
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Square
Square is going to provide financing to "qualified" customers of its merchants at a flat rate of 9.99% and hold the loans on their balance sheet. Pretty PR. LC and Prosper defaults rates results in net returns of around 5% with APRs around 16%. Square has somehow determined that all of their products should be loss leaders. Trying to pull an amazon with lending. We'll see.
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06-27-2017, 11:36 AM #2
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06-27-2017, 12:16 PM #3
Reputation points: 18447
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- May 2017
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This is unsecured consumer lending @9.99%. Great for merchants to be able to offer. Great for merchants customers......Rate is too low and square will lose money on lending. Need a LOT of increased low margin processing to recoup those losses. More unprofitable growth but it may not matter in terms of stock price if they kill on growth
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06-27-2017, 01:49 PM #4
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