[WestCoastFunding]

It depends on what metric they use for annualized rate....they want to use APR and it isn't an apr...apr is with a loan, not an advance so you are confusing people and turning it into a loan giving me more liability

You aren’t turning anything into a loan. You are simply explaining cost of capital on an annualized basis. To me, this just weeds out the meathead brokers who don’t know finance.

[fundingsmbs]

although a different topic than original thread, disclosure of fees is not something that should be objected. The part that will impact brokers is that the higher you upsell the larger the APR will be. We will see if funders decide to keep the buy rate + 12-15 pts in play if APR disclosure becomes part of the industry. Having a 1.25 buy leap to 1.37 or higher impacts APR tremendously. The brand of the co will be impacted if their contracts are all going out with max upsells

[Karen37a]

You aren’t turning anything into a loan. You are simply explaining cost of capital on an annualized basis. To me, this just weeds out the meathead brokers who don’t know finance.

APR = interest

it ist interest

And it is illegal to even infer that it is interest thats why we are "funding" not lending

[fundingsmbs]

APR = interest

it ist interest

And it is illegal to even infer that it is interest thats why we are "funding" not lending

yes, but, are you allowed to have a fixed daily or weekly repayment and say you cant put that into an APR? You cant have it both ways. You want MCA, keep it variable, you want loan, do fixed. They see it differently than you at browns office

[Karen37a]

yes, but, are you allowed to have a fixed daily or weekly repayment and say you cant put that into an APR? You cant have it both ways. You want MCA, keep it variable, you want loan, do fixed. They see it differently than you at browns office

they didnt sign on it yet, they might take it out

and Mr Brown will be challenged on a federal level if he makes it apr...because it isnt

[Karen37a]

Apr is a metric that people are used to ..because of credit cards and loans ...that's why they want to use it so its familiar to people

But you can't use a metric not designed for the product and change the nature of the product

It isn't a Loan it's an advance we are purchasing receivables

Use another metric...not apr

[fundingsmbs]

so how would you disclose this? $20k, $27,200 payback, 3% origination, $227 daily payments if its not written as an APR.

[Karen37a]

so how would you disclose this? $20k, $27,200 payback, 3% origination, $227 daily payments if its not written as an APR.

some type of annualized cost of capital

Words matter....saying "investment" vs "loan" " grant" "gift" matters..it changes the intent and legal liability


I cant legally explain apr to someone for an advance...I come from regulation...i know I am committing a crime

And I most certainly will not have someone sign it. I have ethics

[Nunya]

Another nuance is the compounding periods for fixed payback financing instruments.

Overall I'm against using APR-like reporting for advances considering the nature of the product. There's no specified maturity...

[Karen37a]

Another nuance is the compounding periods for fixed payback financing instruments.

Overall I'm against using APR-like reporting for advances considering the nature of the product. There's no specified maturity...

which is why its non-callable and why people have not been sued in court for usury ( well sued but made a case against it)

you change that framework and you will be sued

[HDF]

SmartBox

[Karen37a]

SmartBox

yes that's how this whole thing started

and do yo want me to pull up the debates and fights on that?

Smartbox wanted everyone to use them...and ill DIE before I use it now

Brokers are there for a reason. WE ARE THE SMART BOX WE CHOOSE WHO TO GO TO

[Nunya]

SmartBox

Do any of the SmartBox lenders do MCAs?

[Karen37a]

Do any of the SmartBox lenders do MCAs?

They want everyone to comparison shop against them like we are fking morons...look at our low rate

And this is how my character assassination crap got started


because I wouldnt go along/...now that they know me longer....guess I wont bow down and kiss someones arse

[HDF]

You aren’t turning anything into a loan. You are simply explaining cost of capital on an annualized basis. To me, this just weeds out the meathead brokers who don’t know finance.

And this.

[Karen37a]

And this.

You do not understand the legal consequences of it...but you dont care ...like other who dont care about mca


Those people who tried to say " she is from bkln with a stock fraud".... bunch of desperate liars

[WestCoastFunding]

You do not understand the legal consequences of it...but you dont care ...like other who dont care about mca


Those people who tried to say " she is from bkln with a stock fraud".... bunch of desperate liars

By explaining cost of capital on an annualized basis, you are NOT turning the B2B purchase of future receivables into a damn loan.

You’re like a circular Alex Jones argument that metastasizes and compounds itself. Nothing says anything about using an APR. And the language seems to provide an alternative that would then show the merchant an example of cost of capital.

[Karen37a]

By explaining cost of capital on an annualized basis, you are NOT turning the B2B purchase of future receivables into a damn loan.

You’re like a circular Alex Jones argument that metastasizes and compounds itself. Nothing says anything about using an APR. And the language seems to provide an alternative that would then show the merchant an example of cost of capital.

Its not cost of capital they want to say APR

for the 100th time

Stop playing semantics to prove your point von Mises...you are wrong

[Karen37a]

And the day you want to play APR games...I can drop to 4.99%-13 % 24=48 months

Id have to pull back up my licences

Some of you think you are so smart like you invented finance

[WestCoastFunding]

Its not cost of capital they want to say APR

for the 100th time

Stop playing semantics to prove your point von Mises...you are wrong

If "they" wanted contracts to state "APR", the legislation would have made reference to "APR". It does not. The language is quite clear. And by citing the annualized cost of capital in a contract, you are NOT somehow negating all the language of the sale of future receivables, and turning it into a loan. Period.

Its as if you make the argument that apples really are oranges, because both are fruit.

[Karen37a]

If "they" wanted contracts to state "APR", the legislation would have made reference to "APR". It does not. The language is quite clear. And by citing the annualized cost of capital in a contract, you are NOT somehow negating all the language of the sale of future receivables, and turning it into a loan. Period.

Its as if you make the argument that apples really are oranges, because both are fruit.

Well go read the arguments the lawyers made for the bill, against the bill and the results it says it all in there

If you had the ability to call someone high enough they would tell you too

They scraped annualized costs for APR at the last second ( like i said they would )

now the gov has the bills...end of month...we shall see

[WestCoastFunding]

And the day you want to play APR games...I can drop to 4.99%-13 % 24=48 months

Id have to pull back up my licences

Some of you think you are so smart like you invented finance

And, once again, the language as stated in the legislation essentially says that rather than offering an annualized rate, the funder can simply provide an example. From the legislation text:

"in lieu of those disclosure requirements, provide an alternative disclosure that meets specified requirements, including that the disclosure may be based on an example of a transaction that could occur under the general agreement for a given amount of accounts receivables."

[Karen37a]

And, once again, the language as stated in the legislation essentially says that rather than offering an annualized rate, the funder can simply provide an example. From the legislation text:

"in lieu of those disclosure requirements, provide an alternative disclosure that meets specified requirements, including that the disclosure may be based on an example of a transaction that could occur under the general agreement for a given ageount of accounts receivables."

ill show you the text and when I do...do I get a dsw shoe warehouse gift card or something? Min 100

( this is like someone going on and on about my spotless impressive licence history me holding out )

add ..When i proved all my points right in the past...you reply...oh well thats that..


I had to listen to some funder tell me ..".well I know what I am doing I have been in venture capital since 2009"...i almost spit my coffee

and i LOOOVEEDD some telemarketing manager telling me that I do not understand finance...that was fun...sitting in training like I am in kingergarden
ok everyone grab your calculator....what is 1.30 on 100k....130k right yeahhhhh heres a cookie. I walked back into the managers office.."did you read my resume"

[Karen37a]

West coast

Some of you do not like the bklyn thug mentality

Do you realize that some of you boss people around that are smarter than you? ( they do not say anything) Better in sales? Some are doing the same thing. Its like people think. We got here first so we own the industry...you were not here first I was....80;s which is why I mention it all the time

Funders not paying brokers ..puppy mills like someone said

This Apr or cost of capital does nothing to improve any of this ...all that this does is advance the agenda of the people who are pro smart box or pro loan

enough already

[WhoisKingsley]

This is why I can't post on here anymore. I leave for a few hours - actually work and the topic changes and it's like KABOOM! DF has the worst case of ADD ever.