- Joined
- Feb 25, 2023
Stripe loan deets from July, thanks to MirnaApparently Stripe (payment processor) offers "loans" sort of like Paypal and others. They see you make X regular income via their processors every month so they are happy to give you a loan and then deduct a percentage of every payment you get coming through their processing service and it's put towards the loan amount, plus a few nice interest points. Usually the loans have a year payoff date. It would seem Ralph got a loan somewhere between $15k and 25K. What's even more interesting is usually Stripe offers repayment by taking a 6% to 10% of one's payments but they have Gunt jacked up all the way to 20%. He must be the most high risk type of account they will okay or his income has fallen so low they had to rejigger the rate to get the needed repayment schedule. (TBF you can also up the repayment percentage on your own to get the loan paid off faster but no way in hell I believe Ralph would choose that option.)
From the screenshots and some info it would appear Ralph can keep 52% of every donation he gets, powerchat's cut plus the processor loan payment eat 48% of every dono.
I'd also bet Ralph already blew the loan amount and now is struggling to keep up his donos to make the needed payments. Maybe it paid for his trip to Rome or maybe his latest travel to Vega. I wouldn't be surprised if he blew it all gambling.
This must have been the last American place on earth that would loan to no-credit Ethan Ralph, and that's only because he had regular income coming through their service the past years. (Stripe just looks at your account, not your credit score.)
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