Whenever you consider the whole profile, needless to say, we now have more clients which are near and subprime simply because this is basically the loan number of $500 to $600, nevertheless when you appear during the whole guide, our book, normal guide, is in the near prime this means we do have clients into the prime and super prime.
Peter: Okay, what exactly would be the termsвЂ¦. We think you pointed out ten months, $600 whatever, exactly what are the rates of interest and so are you billing like an origination charge, do you know the regards to these loans?
Arad: Sure, first, we want to be clear with all the consumer. There’s absolutely no origination cost, there isn’t any additional charge other as compared to right interest associated with the installment loan that people give you the client also itвЂ™s all clear along the way and each client views it straight away. A different approval amount and as I mentioned before, a different down payment to put on the debit card for each customer we give a personal loan, usually loans areвЂ¦the APR is 9% up to 36% and each customer gets a different rate.
Therefore, if youвЂ™re a customer that is prime youвЂ™ll probably get possibly 9 or 10 or something like that when you look at the teenagers that is a lot better than your bank card price.