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  1. #1

    LoanMe's True Consolidation Loans!

    See how we helped this borrower with our
    True Consolidation Loan:

    Contractor came to us looking for daily payment relief. They were paying $496.67 per day = $10,430.01 month. LoanMe was able to payoff the balance directly with their lender/funder, reducing monthly payments to just $1,490.74, freeing up $8,939.33 in cash flow with an additional $1,076.67 cash to the business!!


    Final Approved Amount: $17,200
    Tier: Tier C
    Interest Rate: 104%
    Term: 120 months/ 10 years
    Minimum Monthly Payment: $1,490.74

    Pay Off Info
    LoanMe Loan: $17,200
    Origination Fee: $1,720 (10%)
    Payoff Amount: $14,403.33
    Net Disbursement to Borrower 1,076.67


    How can LoanMe help you #BeTheHERO?
    Send us your True Consolidation Loan leads today!
    Jason Chalarca
    LoanMe, Inc
    949-535-7162
    Email: jason.chalarca@loanme.com

    1900 S State College Blvd. Suite 300
    Anaheim, CA 92806
    Website: https://www.loanmebusiness.com/

  2. #2
    Senior Member Reputation points: 44858
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    what is the payback ? early pre pay details ?

  3. #3
    Senior Member Reputation points: 6585
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    Yeah interest rate of 104 percent

  4. #4
    Senior Member Reputation points: 216519
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    Interest rate of 104% with no prepayment issues.
    Which means that you're disciplined and pay down principal/interest it can be cheaper.

  5. #5
    Senior Member Reputation points: 337045
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    How the F can you be disciplined to pay down quicker on a 104% deal?!?!? You should be disciplined enough NOT to take one in the first place. HolySmokes!!!!!!
    Hedley Lamarr......That's Hedley

  6. #6
    Senior Member Reputation points: 216519
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    Think of it like an interest-only payment with a balloon. It's a 10-year note after all.

  7. #7
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    And it's not amortized, it's simple interest, which makes a huge difference.

  8. #8
    Senior Member Reputation points: 337045
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    I am sorry... 104% cost of capital in any form is unacceptable I don't care how you spin it.
    Hedley Lamarr......That's Hedley

  9. #9
    Senior Member Reputation points: 216519
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    I am sorry... 104% cost of capital in any form is unacceptable I don't care how you spin it.
    Kevin, with due respect, that's a value judgement for the business to make. If I were to stand to make $1mm by taking $100,000 at 104%, I don't think there's anyone here that wouldn't do it. If it's going to be paid back within 4 months (which is the LoanMe client that they're looking for), it will not cost 104%.

    Of course, most businesses won't be able to do it, but there is the place for the quick bridge.

  10. #10
    Quote Originally Posted by fin4all View Post
    what is the payback ? early pre pay details ?
    No pre-payment penalties on ALL of our loans. If they're not aggressive and make ONLY the min payment they will end up paying a total of $161K.
    We always recommend these clients to be aggressive and make more than the min mthly payment so they payoff sooner than later and save on interest.

    Here are some examples for this client:
    Mthly pyment Term Total interest
    $2,640.91 10 mths $9,209.12
    $3,796.19 6 mths $5,577.17
    $6,754.61 3 mths $3,063.84
    Jason Chalarca
    LoanMe, Inc
    949-535-7162
    Email: jason.chalarca@loanme.com

    1900 S State College Blvd. Suite 300
    Anaheim, CA 92806
    Website: https://www.loanmebusiness.com/

  11. #11
    Quote Originally Posted by abfunders View Post
    interest rate of 104% with no prepayment issues.
    Which means that you're disciplined and pay down principal/interest it can be cheaper.
    exactly!
    Jason Chalarca
    LoanMe, Inc
    949-535-7162
    Email: jason.chalarca@loanme.com

    1900 S State College Blvd. Suite 300
    Anaheim, CA 92806
    Website: https://www.loanmebusiness.com/

  12. #12
    Quote Originally Posted by Kevin Henry-Seacoast View Post
    How the F can you be disciplined to pay down quicker on a 104% deal?!?!? You should be disciplined enough NOT to take one in the first place. HolySmokes!!!!!!
    Kevin, its a simple interest term loan with no pre-payment penalties, the loan works similar to a credit card/mortgage payment. If these clients don't have exit strategies for ANY of our loans then it can be dangerous for them.
    Jason Chalarca
    LoanMe, Inc
    949-535-7162
    Email: jason.chalarca@loanme.com

    1900 S State College Blvd. Suite 300
    Anaheim, CA 92806
    Website: https://www.loanmebusiness.com/

  13. #13
    Senior Member Reputation points: 203054
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    Jan 2014
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    Quote Originally Posted by Jason Chalarca View Post
    No pre-payment penalties on ALL of our loans. If they're not aggressive and make ONLY the min payment they will end up paying a total of $161K.
    We always recommend these clients to be aggressive and make more than the min mthly payment so they payoff sooner than later and save on interest.

    Here are some examples for this client:
    Mthly pyment Term Total interest
    $2,640.91 10 mths $9,209.12
    $3,796.19 6 mths $5,577.17
    $6,754.61 3 mths $3,063.84

    so if he stays in full term its 17k for payback of 161k.. makes sense.

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