[LoanMe]

trying to understand how loan me even in your scenario it is .01 point higher when there is 10% in fees .also you said the full 5% . i was always under the impression that it comes out to like 4,5% because you pay on the net after your fees .
side note loan me is great for the right clients and i cant wait for them to roll out what they can do in cali to other states

Michael,

The product we were referring to stating 0.01 point higher was speaking to our "Fixed Payback" product, not our simple interest term loan product.

Here is that section again for reference:

" We also rolled out a Fixed Payback product in June of this year which is an MCA Look-A-Like product with Monthly Payments.
12 months term, fixed repayments with equivalent factors as low as 1.16. (0.01 higher than your 1.15)
Please take a look here: http://conta.cc/28NmNfb "

If you click on the link above you can see this other product available in 29 states

Example of LoanMe's fixed payback product:
$50,000 loan
14% origination fee ( $7,000 fee)
$43,000 Net funded to borrower (commissions are paid on this funded amount)
0.00% interest rate
12 month term= $4,166.66 monthly payments. ( $4,166.66 X 12= $50,000 payback number)
Equivalent factor rate 1.16

Thank you for the kind words Michael. We appreciate working with you.