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Stripe offered my 1 man shop a cash advance. $12,500 $1,250 Fixed fee then 10% of sales withheld. $18,500. $1,850 Fixed Fee. 14% of sales withheld. $25,000.0
by adamqureshi 7y ago
Stripe offered my 1 man shop a cash advance.
$12,500 $1,250 Fixed fee then 10% of sales withheld.
$18,500. $1,850 Fixed Fee. 14% of sales withheld.
$25,000.00 $2,500 fixed fee. 20% of sales withheld.
terms:
No lengthy application: You’re pre-qualified for your advance—no time-consuming application process required.
No hidden fees: We charge one fixed fee for the advance—there are no interest charges or late fees.
Pay when you get paid: Stripe withholds a set percentage of your daily sales until the total amount owed is paid down, so your daily payment adjusts to your performance.
- mNovak 7y agoThe important question here is what are your average monthly sales? (e.g. what is the expected term and thus APR of the loan?)
- deleted 7y ago[deleted]
- ant6n 7y ago"until the total amount owed is paid down"
- i_cant_speel 7y agoI'm confused on why everyone is focusing on this so much. It matters on interest-based loans because a higher APR means you are going to pay more in X amount of time. But here you are paying a flat fee, regardless of the amount of time it takes to repay. Why does the APR matter?
- softawre 7y agoBecause if you have the option of getting the loan through Stripe or a bank that offers a loan with a regular APR, you may want to compare which is a "better deal".
- i_cant_speel 7y agoAh that makes sense.
- kraig 7y agoThe hidden fee is baked into your % of sales withheld, unless you have extremely static income
- adamqureshi 7y agoI did not accept. I think i'll keep grinding without it. :-)
- sleepychu 7y agoSo do you actually get 22500 delivered?