[MCAVeteran]

Fun anecdote about LoanMe. My girlfriend told me that she has a loan with them and wanted me to take a look at it. I called and got some information.
Original principal: $3,100
Total Payments made: approximately $2,150
Outstanding principal: $3,076

Ouch...

The reviews on this site are brutal

https://www.supermoney.com/reviews/p...l-loans/loanme

[FUNd]

The reviews on this site are brutal

https://www.supermoney.com/reviews/p...l-loans/loanme

My heart breaks for these poor souls who were all too happy to take the money and spend it but don't want to pay it back on the mutually agreed to terms.

WAHHHHHHH!!!

[Michael I]

My heart breaks for these poor souls who were all too happy to take the money and spend it but don't want to pay it back on the mutually agreed to terms.

WAHHHHHHH!!!

fully agree and loan me does it themselves so that they are very clear on the rate . merchant knows 100% what he is getting into

[LoanMe]

fully agree and loan me does it themselves so that they are very clear on the rate . merchant knows 100% what he is getting into

Thank you Michael. We try to be as clear as possible disclosing all terms, rates, monthly payment amounts, etc. The point here is our terms are much longer which allows the borrowers to get a lower more affordable minimum monthly payment. They should borrow responsibly as discussed earlier in this thread.

To do this borrowers can:
1.) make minimum monthly payments for a short period of time (while they are turning the newly acquired loan into additional revenue) and then payoff the loan in full-stopping any future interest charges
or 2.) making payments above and/or in addition to the minimum which are then applied straight to the principle balance. This lowers the principle balance interest is charged on, which saves them on interest.

Try it our yourself here: www.loanme.com/loancalculator (scroll to the bottom for calculator)
LoanMe rates and fees disclosed here: www.loanme.com/smallbusiness/Rates

For those that say LoanMe rates are insane- Please check here www.nav.com Click on Education & Tools, then use some of the loan calculators to the right to find out APR on the MCA's you offer... ;-)

Additionally there is a "How it works" section on our LoanMe Small Business Loan Website that is pretty clear.
How it Works.jpg

One thing we would like to also point out is LoanMe Consumer Loans are separate from LoanMe Business Loans. The staff behind the LoanMe name here on this forum, work in the Business Loan division. We believe Christian is referring to a Consumer Loan.