Quote Originally Posted by golf2014 View Post
isn't the factor rate enough to compensate for the high risk of the deal?? I know some lenders are not charging that much, but to charge someone 1000 on a 11k advance is mob like
LOL. Yes, mob like for sure, but let's keep in mind the people who get the 1.45's and have to go to a Pearl or YSC, typically have a history of borrowing money and not paying it back. Ever seen a Cashcall (now known as Loan Me) amortization schedule? Now that is beyond loan sharking. A 10K loan amount is amortized over 84 months for a payback somewhere in the 70-80K range. Yes, you read that right. Ever have a customer complain about rates? Just send them to Cashcall, they'll call you back in one hour flat to sign your deal. I promise.