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Re: Kabbage loans linking
 

Except it's not ****ing interest. Jesus, man. Get that through your head already. And you sure as **** aren't getting a business loan from a bank , from scratch, in 5 minutes.

Re: Kabbage loans linking
 

It's literally the definition of interest:
2.
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
"the monthly rate of interest"
synonyms: dividends, profits, returns


Just because they don't publish an APR that doesn't mean you're not being charged interest.
I'm done discussing loans with someone who didn't think it was possible to calculate APR on a loan term less than 1 year anyway.

Re: Kabbage loans linking
 

Did I say impossible? I said pointless and immaterial to do so. If I need cash, I look at the cost of that cash, and how much profit I can make using that cash, and how much I'd lose out by not having that cash. Simple business skills.

Go tell all the Muslims you know, that they are in fact paying interest on things that they pay fees on. Last time I checked, fees ARE NOT INTEREST. How is this such a hard concept to understand?

You are not being charged interest, no matter how much you scream it from the roof tops. They are finance charges. Do finance charges get included in your little interest calculations? Ever? By anyone?

You pay a set fee for the purchase of money. Just as you'd pay a fee for the rental of a car. You borrow something from someone, and they charge you a set fee for that borrowing. Is THAT interest too?

And again, as I've tried to explain multiple times now, if you pay the loan off in a month, or in two, or in 6, that CHANGES the total fee you pay. Unlike a credit card or a loan, that gives you a set amount of interest on the entire amount you borrow. So again, your 20%+ number is BULL****
Do finance charges get included in your little interest calculations? Ever?

Re: Kabbage loans linking
 

If you pay it off in a month, you're paying $3 for every $100 you borrow. You might claim they are flowering things up, but you're throwing a whopping pile of cow manure on it instead.

Sorry, if $3 for every $100 borrowed, costs you too much, than whatever you need the money for in the first place, is what is the actual bad deal. Not the loan.

Show me another lender that will let you borrow $10,000, give you the cash in MINUTES, without good credit or collateral, for a couple months, for a measly few $100? You should be able to convert that $10,000 into more than enough money to pay off that fee, with a lot of profit to spare. If not, you have poor business sense.

Borrow that amount of money, for a month, and you pay 5% APR. How's that?? So where exactly did you get your 30-50% from? Like Dan, you pulled it out of thin air.

Re: Kabbage loans linking
 

Yeah same, then I'd look at the Kabbage rate and compare it to the interest rate my bank is offering me which would be much lower lol.

Yep. If I search 'best mortgage uk' most of the websites will include the initial fee in their calculation for the total APR.

You'll always be paying more than 20% APR on Kabbage no matter how soon you pay it back. Finance charges should always be included in 'little interest calculations', obviously.

few $100 fee on a $10,000 loan for a month is way more than 5% APR lol jesus, learn some maths.
If the only loan you're being offered is 20%+ per year after having an Ebay business for 10 years then I'd say it's probably you who has poor business sense. My bank's have been trying to throw money at me ever since I started selling about 10k per month.

Re: Kabbage loans linking
 

No Tale.
It was my brother in Georgia and I was there. They left several door tags. Eventually he called the police and had a criminal trespass order issued.

He never did pay them. Not a penny. Nothing came from it.

Re: Kabbage loans linking
 

It's not so much about the COST of the money, but the convenience and ability to get it in the first place.

For some people, Kabbage makes sense for them. For the others that it doesn't, there are plenty of alternatives.

There are also plenty of people who don't mind paying 2000% effective APR (or more) for a payday loan, too.

Re: Kabbage loans linking
 

If you look at your ROI and how fast you can turn funds, it absolutely CAN be a great tool especially if you dont want business stuff on your personal credit.

I will gladly borrow $100,000 and pay back $106,000 in a couple months if I made $50,000 in profit.

The dude above complaining about the fees is not looking at it as transnational.

But if I had to choose a transactional lender, it would be Mint Financial or some other private funds, not a bank owned company. I would rather pay some wealthy friends 2-3% than a bank.

Re: Kabbage loans linking
 

Most Ebay sellers won't have a net profit margin of over 30% like in your example though so the interest rate becomes more of a factor.
I said towards the start of this thread that it can be useful if you're not able to get cash at a lower rate but most people who've had an Ebay business for 10 years (like the OP) should be able to get a better rate.

Re: Kabbage loans linking
 

Do the ****ing math. $100 fee on $10,000 for a month, is 5% APR. Jesus, LEARN SOME MATH. I'm done with you. You're a troll, nothing more. I came on here asking about linking, not to hear your ****ing opinion on kabbage loans. If you had nothing to say about linking, then why bother to comment in the first place???

Re: Kabbage loans linking
 

No it isn't, it's about 12% but you said 'a few $100' not one hundred anyway lol. Thanks for your maths lesson.

Re: Kabbage loans linking
 

Morning chuckle :) thanks

Re: Kabbage loans linking
 

" as far as I know". Not exactly instilling confidence in your opinion lol.