Looking for a business line, well be careful....
The offer I received was beyond unacceptable. Push Push Push, calls, emails and for what? Their first offer was a $250K line of credit at.... Wait for it, only a 4% cost of the draw, but I kept asking because a 4% cost of capital isn't bad at all but then the reality set in when the true terms were revealed. The fee for the line was... 4% A MONTH or only 48% a year. The reason for all the calls and emails was they thought they had a mark that they could pawn a usurious loan loan making themselves tens of thousands of dollars. I'd avoid companies like this. They will prey on you and bleed you dry.
Réponse : Working Capital Marketplace
Hi Brad, the pricing you are referencing here is incorrect/not updated. Your approval is/was a 24 Month Line of Credit for $275K.
Fees included a draw fee of 2.99% and then an average monthly simple interest rate of 1.33%/month with 100% prepayment discounts. We are a marketplace. We help business owners navigate business funding options and connect them with the funding sources that best fit their needs and credit/business profile. We help businesses review multiple options in a simple and time effective manner. We do not offer any of the funding options directly as such your review is not a clear or fair representation of how our company operates or of your approvals.