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I wish stripe would offer some relief for the pandemic to their customers. I use them for my business to process CC's but they have not provided anything. I can

I wish stripe would offer some relief for the pandemic to their customers. I use them for my business to process CC's but they have not provided anything. I can't get a PPP loan. I'd accept an interest free loan if they would offer it to my business. They did approve me for a loan but want a fee upfront + a slice of daily sales until its paid back.

whalesalad 6y ago
Beggars can’t be choosers. The fee and slice of sales until paid back is completely reasonable. Why should one business have to shoulder the struggles of another? Yes, there is potentially a moral obligation to your fellow man. But this is capitalism baby. If stripe handed out a bazillion loans without any expectation they’d be paid back... what do you imagine would happen?
- enumjorge 6y ago
  On the other hand, presumably it’s in Stripe’s best interest for its customers to stay afloat.
  - jacquesm 6y ago
    If they are viable businesses, then yes. That's the hard part of risk management: determining which companies will make it through if you support them and which will fail anyway, regardless of assistance.
pc 6y ago
We've been working with various government agencies behind-the-scenes and are about to pilot our first PPP loans. (Since so many banks have had troubles with the SBA application process, we want to make sure the process is robust and scaleable before deploying anything broadly.) Feel free to email brayden@stripe.com if you're interested in trying it out.
- toomuchtodo 6y ago
  Thank you for this. It doesn't impact me personally, but every contribution helps.
- adamqureshi 6y ago
  Thank you. email sent!
csa 6y ago
> I'd accept an interest free loan if they would offer it to my business. They did approve me for a loan but want a fee upfront + a slice of daily sales until its paid back. Genuine question... is the interest really the major issue with the loan they offered? The amount of interest in the “slice of daily sales” is not that much (relatively speaking). That slice is just a loan repayment, which you would have to do whether it was interest free or not. Maybe Stripe could do something like temporarily lower their fees or maybe reduce the up front fee, but I imagine that their current loan offer to you isn’t far from what you would get even if they had a net zero expected value from your loan. Am I missing something?
- adamqureshi 6y ago
  >Maybe Stripe could do something like temporarily lower their fees or maybe reduce the up front fee. YES! I did email them. Lets see, Fingers crossed. :-) Thank you.

whalesalad 6y ago

Beggars can’t be choosers. The fee and slice of sales until paid back is completely reasonable. Why should one business have to shoulder the struggles of another? Yes, there is potentially a moral obligation to your fellow man. But this is capitalism baby. If stripe handed out a bazillion loans without any expectation they’d be paid back... what do you imagine would happen?

enumjorge 6y ago
On the other hand, presumably it’s in Stripe’s best interest for its customers to stay afloat.
- jacquesm 6y ago
  If they are viable businesses, then yes. That's the hard part of risk management: determining which companies will make it through if you support them and which will fail anyway, regardless of assistance.

pc 6y ago

We've been working with various government agencies behind-the-scenes and are about to pilot our first PPP loans. (Since so many banks have had troubles with the SBA application process, we want to make sure the process is robust and scaleable before deploying anything broadly.) Feel free to email brayden@stripe.com if you're interested in trying it out.

toomuchtodo 6y ago
Thank you for this. It doesn't impact me personally, but every contribution helps.
adamqureshi 6y ago
Thank you. email sent!

csa 6y ago

> I'd accept an interest free loan if they would offer it to my business. They did approve me for a loan but want a fee upfront + a slice of daily sales until its paid back. Genuine question... is the interest really the major issue with the loan they offered? The amount of interest in the “slice of daily sales” is not that much (relatively speaking). That slice is just a loan repayment, which you would have to do whether it was interest free or not. Maybe Stripe could do something like temporarily lower their fees or maybe reduce the up front fee, but I imagine that their current loan offer to you isn’t far from what you would get even if they had a net zero expected value from your loan. Am I missing something?

adamqureshi 6y ago
>Maybe Stripe could do something like temporarily lower their fees or maybe reduce the up front fee. YES! I did email them. Lets see, Fingers crossed. :-) Thank you.