Stripe already takes a commission on every sale I make, so by lending me money to grow my business at credit card rates, they'd be taking a cut at both ends. It's interesting that in an atmosphere of SoftBank and tiny interest rates, small business loans are still unobtainable
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It is easier to get ten million dollars in Silicon Valley than ten thousand dollars
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Right now, if I had to make a $30K capital investment (like buying Delicious) I would do it the American way: max out a credit card and transfer the balance to a 0% APR promotional rate, being careful to earn airline miles on both transactions. Why aren't there 6% loans instead?
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Oh of course it's fucking
@patio11 behind thishttps://twitter.com/patio11/status/1169795424695148544 …Show this thread
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Typical small business loans are in the 4-8% range.
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what is the repayment period? looking at this: https://www.comcapfactoring.com/blog/average-factoring-costs/ … it might be quite competitive
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Repayment period depends on cash flow. All the data you need to calculate the repayment period is in my tweet.
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All failing financial businesses end up doing payday loans
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I do not have experience with loans in the US, but this is
@patio11 explanation (with numbers):https://twitter.com/patio11/status/1169795959548600320 …
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