Interesting thread on predatory loans. Would love to hear what folks at @stripe and @Shopify say about it. Maybe @patio11 could shed light?https://twitter.com/soundslikecanoe/status/1174721737822547969 …
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If one's online business is growing at 15% a month, a) congratulations, b) you will pay a higher implicit APR from products structured this way (if you are right about growth predictions), and c) if you need the money to sustain that growth, CLEARLY TAKE IT, and if not, don't.
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A feature of these products is that you're essentially selling some downside risk to the lender. (i.e. If your business ceases growing or contracts, your repayment period will be longer over the same fixed cost and both your monthly outgoing and your implicit APR will be lower.)
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