We believe in business funding transparency and want you to have the right information to make financing decisions for your business. Small Business Funder’s express pricing in different ways, which may sometimes be difficult to compare options and approvals
SharpShooter Funding© launched a first-of-its-kind capital comparison tool called “PLAYBOOK”.
In plain English and an easy-to-read format, SharpShooter Funding© shows you key terms you need to evaluate potential Funding offers. The SMART Box is a disclosure form that provides a comprehensive, standardized breakdown of your cost of capital.
SMALL BUSINESS FUNDING COMPARISON TOOL
The calculations below involve certain key assumptions about this Funding, including that the Funding account is paid off in its entirety according to the agreed payment schedule and that no repayments are missed.
Total Cost of Capital
|Total cost of capital||$9,375|
This is the total amount of interest and other fees for the Funding.
The amount does not include fees and other charges you can avoid, such as late payment fees and returned payment fees. 2
Annual Percentage Rate (APR)3
|Your Loan will have weekly payments of:||$1,586.54|
This is the cost of the Funding – including total interest and other fees – expressed as a yearly rate. APR takes into account the amount and timing of capital you receive, fees you pay, and the periodic payments you make.
While APR can be used for comparison purposes, it is not an interest rate and is not used to calculate your interest expense.
Average Monthly Payment
|Terms (in months):||+12 months|
|Average Monthly Payment||$6,875.00|
|Specific Monthly Schedule:||NA|
This is the average monthly repayment amount of the Funding, which does not include fees and other charges you can avoid, such as late payment fees and returned payment fees
The actual repayment frequency for the Funding will be weekly. This is an estimate for comparison purposes only.
Cents on the Dollar (excludes fees)
|Cents on the Dollar||10¢|
This is the total amount of interest paid per dollar borrowed. This amount is exclusive of fees.
|Does prepayment of this Funding result in any new fees or charges?||No|
|Does prepayment of this Funding decrease the total interest or Funding Fees owed?||Yes|
1 The Disbursement Amount is the amount of capital that a business receives and may be different from the Funding Amount. The Disbursement Amount is net of fees withheld from the Funding Amount. A portion of the Disbursement Amount may be used to pay off any amounts owed from a prior Funding or on amount owed from a third party.
2 Your business may incur other fees that are not a condition of borrowing, such as late payment fees, returned payment fees, or monthly maintenance fees. Those fees are not reflected here. See your Funding arrangement for details on these fees.
3 APR should be considered in conjunction with the Total Cost of Capital. APR may be most useful when comparing financing solutions of similar expected duration. APR is calculated here according to the principles of 12 C.F.R. §1026 (Regulation Z), using 52 payment periods of equal length and 52 payment at per year for weekly pay products.