[xenity7]

It’s not a loan, and the 1% fee isn’t an interest rate, so annualization doesn’t make sense and usury laws don’t apply.

[pbreit]

Getting money today that you would normally get tomorrow is a loan. And whatever you are charged is the interest rate.

[whack]

Usury laws prohibit interest rates >20%, because otherwise, there are people who would actually be paying back 20% more than the amount they borrowed. In your example, that's impossible - the additional "interest" you're going to pay is never going to exceed 1% of the money you "borrowed"