[tyingq]

>>opaque to the point of dishonesty

I suspect the fee is not the same for everyone. They probably have some way of judging risk. Which would explain the secrecy.

[kennywinker]

It's not the lack of specific numbers that I find the most disreputable, it's truth-bending statements like "Merchant cash advances do not have an interest rate."

[lightbendover]

Merchant cash advances (a sizable, although definitely not huge, segment of lending) do not have an interest rate, they have a factor rate, which is an entirely different thing in finance. The factor rate is simply a multiple on the amount advanced (money that the borrower gets now) in order to determine the constant amount that must be repaid to the lender, the right-to-receive amount. Calling it an interest rate would actually be dishonest.

[tyingq]

And the factor rate, I assume, varies based on the amount, and the credit risk of the borrower. Which is why it isn't stated up front.