Stripe Capital • Hacker News Board

Re: Stripe Capital

#201

Post by robocat » Thu, Sep 05, 2019, 11:24 PM UTC

davidpolberger wrote: post #160

BukhariH wrote: post #101

Earlier quoted context omitted.

I really love what Stripe are doing here - whilst yes the the APR can be quite considerably higher. That's fair since Stripe are taking on quite a fair bit of additional risk. As the borrower this loan is significantly de-risked since there aren't any dreaded monthly payments you must make. Here's my attempt at a quick interest calculator for Stripe Capitals loans: https://docs.google.com/spreadsheets/d/1RH9PpJ9kdB7X…

I created a version with sliders, making it easier to experiment: https://connect.calcapp.net/?app=atzggn Also, you don't have to duplicate the spreadsheet to make it editable, you can just use it straight away. (Disclaimer: I created it with Calcapp, which is a SaaS product I built.)

Perhaps add a tag to your calculator - otherwise it is just a blank page with JavaScript disabled!

Re: Stripe Capital

#202

Post by haven » Thu, Sep 05, 2019, 11:41 PM UTC

abalone wrote: post #34

Stripe is really coming after Square. Square Capital is an extremely similar product (prequalifies you & autopays based on your payment volume). Square has a platform / payments SDK but if you look at the Github repo it's a disorganized mess versus Stripe's with virtually no "stars".[1] There's also Stripe Terminal which is a platform-y approach to Square's register/terminal. I wonder how much longer until they go af…

Not to nitpick, but a quick check shows Square has way more stars overall. (233,343 stars for Square repos and 30,982 stars for Stripe repos.) If you’re talking about Square’s brand new SDKs, they of course start with zero stars and some are just weeks old.

Re: Stripe Capital

#203

Post by countryqt30 » Thu, Sep 05, 2019, 11:49 PM UTC

I'm a heavy user of Stripe with 3 businesses >50k MRR and for me charging 10% (even if it's 1 year loan), let alone a >25%+ APR is RIDICULOUS. I'd certainly never use it. I mean this as constructive feedback. I'm actually very disappointed by this ridiculously lousy offer for customers, because that's the opposite of how I've known Stripe: friendly and customer-oriented.

Cut your fees by 5X and then you have a product we're talking.

Re: Stripe Capital

#204

Post by davidpolberger » Thu, Sep 05, 2019, 11:49 PM UTC

robocat wrote: post #201

davidpolberger wrote: post #160

Earlier quoted context omitted.

I created a version with sliders, making it easier to experiment: https://connect.calcapp.net/?app=atzggn Also, you don't have to duplicate the spreadsheet to make it editable, you can just use it straight away. (Disclaimer: I created it with Calcapp, which is a SaaS product I built.)

Perhaps add a tag to your calculator - otherwise it is just a blank page with JavaScript disabled!

There is actually a element, but it isn't showing because the CSS opacity of the element is set to 0. That's a fairly recent change which inadvertently broke the text. We'll need to look into what we can do to fix it.

Re: Stripe Capital

#205

Post by countryqt30 » Thu, Sep 05, 2019, 11:53 PM UTC

tnolet wrote: post #153

When is this launching in the EU?

In the EU you can get credit for 1% and less at any German/UK/French/... bank. Do you really want to pay 10-30% instead at Stripe?

Re: Stripe Capital

#206

Post by nspady » Fri, Sep 06, 2019, 12:01 AM UTC

pmart123 wrote: post #132

jawns wrote: post #25

The way Stripe Capital has structured repayment of the loan -- fixed fee, dynamic loan term -- is is an interesting way to make it hard to compare against other lenders, which typical express their fees through APRs. The term of the loan is variable, and depends on daily sales, but assuming you have a high volume of sales and take out a small loan, the effective APR is going to be through the roof! For instance, supp…

Form my recollection, Square launched something very similar a few years ago?

That is correct. Similar model for repayment based on % of sales https://squareup.com/us/en/capital

Re: Stripe Capital

#207

Post by ceejayoz » Fri, Sep 06, 2019, 12:02 AM UTC

PeterisP wrote: post #193

ceejayoz wrote: post #143

Earlier quoted context omitted.

These approaches are so baffling to me. Their tagline is even "control electricity on Shabbat!" while telling you all the ways you're technically not controlling electricity. Loopholes that violate the spirit of the law but technically fit the letter of it make sense in doing your taxes, but it seems extremely risky to take that approach with a god. "Haha guys, very clever, you got me" doesn't seem like the end resul…

There's no prohibition on controlling electricity as such, the most relevant actual prohibition (there are a few other justifications for particular circumstances) is on starting a fire, which prohibits turning on a light (which most devices involve) and also many ways of controlling electricity (e.g. a switch) violate as it a spark is created. Benefitting from a fire that's started before Shabbat is not prohibited,…

I suppose I'm left wondering if this causation loophole - a properly engineered switch being deemed not to cause anything, despite an obvious cause/effect linkage to an observer - is usable in other, nastier scenarios.

Can I (setting aside the obvious secular punishments for a moment) murder someone with a bomb activated via one of these switches?

Re: Stripe Capital

#208

Post by 1123581321 » Fri, Sep 06, 2019, 12:07 AM UTC

countryqt30 wrote: post #203

I'm a heavy user of Stripe with 3 businesses >50k MRR and for me charging 10% (even if it's 1 year loan), let alone a >25%+ APR is RIDICULOUS. I'd certainly never use it. I mean this as constructive feedback. I'm actually very disappointed by this ridiculously lousy offer for customers, because that's the opposite of how I've known Stripe: friendly and customer-oriented. Cut your fees by 5X and then you have a produc…

Do you actually need to finance your business? It just sounds like you don’t value access to cash. This is an alternative to traditional small business lending and receivables factoring.

Re: Stripe Capital

#209

Post by H8crilA » Fri, Sep 06, 2019, 12:12 AM UTC

> Eligibility is determined solely based on your history with Stripe. There’s no lengthy application process, and funds typically arrive the next business day.

Oh my. Basing credit decisions solely on revenue, not profit, data.

Who's here shorting corporate credit, and how? So far the best idea I could come up with is LEAPS puts on $BKLN.

Re: Stripe Capital

#210

Post by [deleted] » Fri, Sep 06, 2019, 12:13 AM UTC

antoinevg wrote: post #139

It does not please me that this announcement comes at a time when Stripe took an unprecedented FIVE DAYS to transfer incoming payments to my bank account. Is this the new ultra-capitalism? Delay my payments so that I am forced to take on loans on unfavourable terms?

[deleted]