[LoanMe]

Introducing an all NEW LoanMe product:

"FIXED PAYBACK LOAN"

LoanMe now offers an additional product that combines the benefits of a merchant cash advance, short term, fixed payback product; while keeping the same Monthly Payments borrowers love.

Fixed Payback Loan.jpg


***LoanMe does not charge borrowers the origination fee upfront. This fee is deducted before funding. For example on a $10,000 "Tier A" Fixed Payback Loan, the net funded amount would be $8,600 after the 14% ($1,400) fee.

• The Fixed Payback Loan is an additional product. LoanMe still offers our regular Small Business Loan
• Fixed Payback Loan is available in 29 out of the 31 states LoanMe lends in (NJ, OR are excluded)
• Same broad acceptance and eligibility applied to this new loan program
• Partner commissions are the same and not lower for this program

For a list of the states or more information on how this product compares to LoanMe's regular Small Business Loan Product click on the link below:
www.loanme.com/smallbusiness/Rates

[Chambo]

so basically, they are paying the vig up front?

[LoanMe]

so basically, they are paying the vig up front?

No. Borrowers do not pay anything up front. LoanMe deducts the origination fee from the Loan Amount before funding.

Example for Tier A (12 month term):
$50,000 Loan Amount - 14% fee ($7000) = $43,000 net funded to the borrower.

The fixed payback amount is just the $7,000. No interest accrues.

So in MCA terms this would be a 1.16 factor. Partners still get their full commissions.

[KTK]

How do you guys feel about other positions? Also how does a current LoanMe customer stand with this product, if they already have one of your traditional products in place?

[LoanMe]

How do you guys feel about other positions? Also how does a current LoanMe customer stand with this product, if they already have one of your traditional products in place?

LoanMe will take 2nd position if the borrower falls into our Tier A, B+ and B tiers. If they fall into Tier C, D & E or have more than 1 outstanding balance we will deduct their total outstanding amount from our offer.

If a current LoanMe customer has any of our products they must pay off their first loan with us before re-applying.