Quote Originally Posted by Michael I View Post
Not really their rates can go as high as 149 percent ( I believe the lowest is 24 and a 5 percent origination fee )
Monthly is a big plus
But compare to a 1.3 factor for 12 months it is more expensive.
Now I do get that a 1.3 is not 30% apr as merchant is making daily payments but it is a lot less then 149%
You are correct with your example... and there are some examples where LoanMe is the best product available.

Quick breakdown:

1.3 for 12 months is around 54% APR. LoanMe could beat that, but it would have to be a solid approval for them (obviously the client isn't a bad borrower if he qualifies for 1.3 for 12).

...But let's say you have an approval at 1.4 for 6 months (150% APR), and LoanMe approves the same deal. In this case, LoanMe would be a better solution for the client.

Try them out sometime! They fund fast (no joke, just a few hours) and fund deals that are difficult to place elsewhere.