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11-21-2014, 01:18 PM #14
Reputation points: 2218
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
Lol its not factually incorrect. It is a fact. anyone who has been in this business for a few years knows it. every company you mentioned with the exception of strategic is a stacker. And they all charge a bunch of junk fees. There are other stackers that do not charge as much in junk fees. And NONE of the A paper, first position companies charge anywhere near to those type of fees. On deck, 2.5% in fees. MCC, Snap, GRP, etc 300 in admin fees, not 7-10% of the advance amount.
I am not bad mouthing any of those companies that you have mentioned. They fill a need. I have worked with some of the for years. I am merely pointing out that Pearl, in addition to 3 month 1.45 , they also charge 7-10% in fees that are deducted from the funding amount, bringing the effective interest rate to 200+%. And I do not think it would be in pearls best interest to go public and advertise that they charge those kind of rates
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