[LoanMe]

"Predatory" is a view point, and often an opinion of individuals whom cannot asses risk properly and frown upon those in a high risk field. If everyone that applied for a loan instantly qualified for a multi-million dollar unsecured LOC/SBA Loan, then I would agree some places could be seen as taking advantage of merchants. However, if you are a merchant and lets say you apply with every different type of financial tool from "premiere quality" to a "bottom of the barrel" (don't throw the "well with all of those hard inquires" at me, I am just making a point ) and ever place declined you for X reason(s), and then LoanMe says here is $ @ % are they predatory or properly assessing the risk that transaction imposes with an underwriting model that properly allows them to do so.

Interest/interest rate/APR all dependent on the frequency with which "interest" is compounded, or how frequently the additional payback is charged. LoanMe will charge per day with a simple interest model and while they may have a high "interest-rate" they are also willing to take risks most other financial companies will not even consider. 550 FICO, 2 months in business, 15 NSF's over 60 operating days? LoanMe funds it and everyone else laughs them off of the phone.

Now I am not saying LoanMe is the best financial tool for any given situation but I had a merchant a few months ago with a great FICO (can't remember exact numbers but about 670-700) and strictly due to TIB (about 4 months) this merchant was only being offered 3 month 1.45 at less then half of what was needed to begin a new government contract. LoanMe thankfully came in and offered them more than what the merchant was asking for and as LoanMe has their interest only monthly payment structure it did not place any strain on the merchant's cash flow, and 6 months later when the larger contracts were paying out the merchant ballooned the remaining. It was exactly what the merchant needed

We believe this answers the questions of this thread starter J_B. Thank you nrh1lp.

Our apologies to Breakout as it was not intended to take over their thread. They commented on LoanMe and we felt the need to address, which turned into a few back and forth posts. Admins feel free to take the back and forth between Cfairbanks and LoanMe on that thread and re-locate them here.

We invite everyone to our "LoanMe Small Business Loans" Promotions thread in the promotions section of DF located here: http://dailyfunder.com/showthread.ph...ghlight=loanme