They also mention 10 months as the term of the advance, and I think that’s for the same $10k/$11k example. Assuming equal payments of $1,100 every month, that w

They also mention 10 months as the term of the advance, and I think that’s for the same $10k/$11k example. Assuming equal payments of $1,100 every month, that would make the APR about 23%. There’s an element of equity here because if sales are lower than expected, and it takes 15 months to pay back the advance, the APR ends up at only 16%. If sales are higher than expected, the APR would be higher, 34% for a 7-month period.