Results 51 to 75 of 106
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09-13-2018, 05:10 PM #51
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09-13-2018, 05:12 PM #52
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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
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09-13-2018, 05:13 PM #53Karen37aGuest
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09-13-2018, 05:18 PM #54
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09-13-2018, 05:21 PM #55Karen37aGuest
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09-13-2018, 05:28 PM #56Karen37aGuest
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
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09-13-2018, 05:30 PM #57
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so how would you disclose this? $20k, $27,200 payback, 3% origination, $227 daily payments if its not written as an APR.
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09-13-2018, 05:32 PM #58Karen37aGuest
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
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09-13-2018, 05:36 PM #59
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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...
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09-13-2018, 05:38 PM #60Karen37aGuest
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09-13-2018, 05:52 PM #61
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SmartBox
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09-13-2018, 06:00 PM #62Karen37aGuest
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09-13-2018, 06:04 PM #63
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09-13-2018, 06:05 PM #64Karen37aGuest
Last edited by Karen37a; 09-13-2018 at 06:07 PM.
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09-13-2018, 06:07 PM #65
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09-13-2018, 06:09 PM #66Karen37aGuest
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09-13-2018, 06:51 PM #67
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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.
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09-13-2018, 07:21 PM #68Karen37aGuest
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09-13-2018, 07:30 PM #69Karen37aGuest
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
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09-13-2018, 07:33 PM #70
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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.
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09-13-2018, 07:35 PM #71Karen37aGuest
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
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09-13-2018, 07:36 PM #72
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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."
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09-13-2018, 07:38 PM #73Karen37aGuest
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"Last edited by Karen37a; 09-13-2018 at 07:52 PM.
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09-13-2018, 08:02 PM #74Karen37aGuest
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
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09-13-2018, 08:04 PM #75
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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.
Amanda Kingsley
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