Let me throw in my 2 cents Michaelh. I agree with you that 3 points on this deal is reasonable but I'm not sure why you want to put them into an advance. The APR to the customer is around 30%. It sounds like you could make more money, increase the loan amount and get much better terms for your customer by putting him into an ABL.
Bob Shaw
Advance Credit Funding Corporation
734-929-3800
rshaw@advancecredit.com
rshaw@millenniuumfundingusa.com