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Stripe raises $600M at nearly $36B valuation

(www.axios.com)
721 points hhs | 2 comments | 16 Apr 20 14:35 UTC | HN request time: 0.408s | source
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adamqureshi ◴[16 Apr 20 14:54 UTC] No.22889964[source]▶
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.
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1. csa ◴[16 Apr 20 16:00 UTC] No.22890720[source]▶
> 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?

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2. adamqureshi ◴[16 Apr 20 22:19 UTC] No.22894152[source]▶
>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.