Loans – Freedom Toons http://freedomtoons.org/ Tue, 22 Nov 2022 13:02:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://freedomtoons.org/wp-content/uploads/2021/05/default.png Loans – Freedom Toons http://freedomtoons.org/ 32 32 Veterinary Telemedicine Company Dutch launches pet insurance in partnership with Pets Best | Company https://freedomtoons.org/veterinary-telemedicine-company-dutch-launches-pet-insurance-in-partnership-with-pets-best-company/ Tue, 22 Nov 2022 13:02:34 +0000 https://freedomtoons.org/veterinary-telemedicine-company-dutch-launches-pet-insurance-in-partnership-with-pets-best-company/ SAN FRANCISCO & STAMFORD, Conn.–(BUSINESS WIRE)–Nov 22, 2022– Virtual veterinary care provider Dutch is partnering with Synchrony (NYSE:SYF), a consumer financial services company, to bring Pets Best insurance to its annual veterinary care members. More than 90.5 million American families have a pet (source), but according to NAPHIA, only 3% of pets in the United […]]]>

SAN FRANCISCO & STAMFORD, Conn.–(BUSINESS WIRE)–Nov 22, 2022–

Virtual veterinary care provider Dutch is partnering with Synchrony (NYSE:SYF), a consumer financial services company, to bring Pets Best insurance to its annual veterinary care members. More than 90.5 million American families have a pet (source), but according to NAPHIA, only 3% of pets in the United States are insured (source). Dutch makes it easy to access common veterinary needs with telemedicine, personalized treatment plans, and prescription fulfillment in most states. The addition of Accident Only insurance plans offered by Pets Best marks an exclusive plan for Dutch pet owners for affordable virtual care solutions for emergencies and daily care.

“Through this partnership, we are deepening how we support our members’ pets by providing a safety net in the event of an accident requiring immediate, in-person attention. This new offering demystifies the insurance process to make access to care simple and convenient – ​​meeting the needs of pet owners in a modern way,” said Joe Spector, CEO and Founder of Dutch. “Pets Best is an ideal partner for Dutch as they help us pursue our mission of providing consistent, transparent and quality veterinary care to pet owners across the country,” he added.

Launched in July 2021 by Joe Spector – co-founder of HIMS – Dutch has had a companion animal mentality since its inception, but it is also committed to pet parents by providing the highest quality care that are also affordable, accessible and extremely user-friendly. Unlike competing virtual vet services, Dutch connects its customers directly with licensed vets only so that its veterinary experts can get to the root of the problem and provide a personalized care plan and treatment as quickly, efficiently and effectively as possible, which is usually within 24 hours. hours. Dutch is notably the one and only veterinary telemedicine company that can also prescribe and ship over-the-counter and Rx medications — which go beyond common flea and tick treatments — to patients through its virtual model. With its supplemental pet insurance policy, Dutch is establishing itself as the one-stop-shop for veterinary care needs in the United States.

“Pets Best understands that accidents happen – whether it’s a pet accidentally swallowing a new chew toy, breaking bones, or needing emergency surgery,” said Melissa. Gutierrez, senior vice president and general manager of Pets Best. “The combination of Pets Best’s Accident Only insurance coverage and Dutch’s 24/7 virtual veterinary care means that pet owners will have easy and convenient access to pet care and resources when ‘they need it the most.”

Dutch and Pets Best meet the growing demand for veterinary services with API-based solutions and innovative pet insurance products, advancing the pet health industry. Accident insurance policies do not cover pre-existing injuries, cruciate ligament injuries or any illness or disease, including bacterial or viral infectious diseases, parasitic infections, metabolic disorders or cancer. The Dutch x Pets Best insurance plan is only available on the Dutch website. For more information, please visit https://www.dutch.com/.

About Dutch

Launched in July 2021, Dutch is the first and only veterinary telehealth company that directly connects licensed, independent veterinarians with companion animals and their parents nationwide. In its early days, Dutch primarily treated common chronic conditions, such as anxiety and allergies, but has grown to treat over 150 conditions and serve over 40,000 customers. In 2022, Dutch introduced Rx Services, which allows the company’s licensed veterinarians to prescribe and ship over-the-counter and prescription drugs to patients in 40 states. Dutch subscriptions, excluding insurance, start at just $15/month and include unlimited access to virtual vet care via video and chat models. In a country with a critical veterinarian shortage of just one vet per 6,000 pet households, Dutch is creating a more accessible means of reliable, quality veterinary care that can meet the needs of modern pet parents. in a timely manner and at a fraction of the price. Cost.

About synchronization

Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative consumer banking products, in key sectors such as digital, retail, home, automotive, travel, health and pets of company. Synchrony enables our partners to increase sales and retain consumers. We are one of the largest private label credit card issuers in the United States; we also offer co-branded products, installment loans and consumer finance products for small and medium-sized businesses, as well as healthcare providers.

Pets Best offers pet insurance and wellness plans for dogs and cats in every state. With a mission to provide access to comprehensive pet healthcare at an affordable price, Pets Best offers flexible coverage, a simple claims process and excellent customer service. Pets Best is a founding member of NAPHIA, an organization dedicated to ensuring high standards and transparency for the pet insurance industry. For more information on custom API-based pet insurance solutions, visit www.petsbest.com/enrollment-api.

Pet insurance coverage offered and administered by Pets Best Insurance Services, LLC and underwritten by American Pet Insurance Company, a New York insurance company headquartered at 6100 4th Ave. S. Suite 200 Seattle, WA 98108. Please visit www.americanpetinsurance.com to view all available pet health insurance products.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221122005219/en/

CONTACT: Dutch media:

NAME: Amanda Gibson, Jennifer Bett Communications

dutch@jbc-pr.com

(678)-327-8132

Best Pet Media:

Kerry Sutherland, RP K. Sutherland

Kerry@KSutherlandPR.com

(775) 360-6101

KEYWORD: CALIFORNIA CONNECTICUT UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH CONSUMER TELEMEDICINE/VIRTUAL MEDICINE PET INSURANCE VETERINARY

SOURCE: Dutch

Copyright BusinessWire 2022.

PUBLISHED: 11/22/2022 08:00 AM/DISC: 11/22/2022 08:02 AM

http://www.businesswire.com/news/home/20221122005219/en

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What makes a Black Friday deal really worth it? https://freedomtoons.org/what-makes-a-black-friday-deal-really-worth-it/ Sat, 19 Nov 2022 07:04:32 +0000 https://freedomtoons.org/what-makes-a-black-friday-deal-really-worth-it/ Black Friday sales are everywhere. Judging by retailer ads filled with terms like “must-have deals” and “can’t-miss epic finds,” you’d be led to believe that every deal is too good to pass up. But what makes a Black Friday deal really worth pursuing? The reduced price, availability and affordability of an item are key. Here’s […]]]>

Black Friday sales are everywhere. Judging by retailer ads filled with terms like “must-have deals” and “can’t-miss epic finds,” you’d be led to believe that every deal is too good to pass up.

But what makes a Black Friday deal really worth pursuing? The reduced price, availability and affordability of an item are key.

Here’s what to consider before buying.

Best price

Prices fluctuate throughout the year, making it difficult to determine if the deal on offer is actually the best of the best. Most people couldn’t tell exactly how much a particular air fryer sold for two weeks ago or two months ago, and if that differed from the current price.

“The things you buy every week, you notice the price going up. Where if it’s something you buy maybe once a year or not very often, like a pair of shoes, you don’t know what’s the normal price or what the price was last time,” says Martin Block, professor emeritus in Medill’s Integrated Marketing Communications program at Northwestern University.

What can you do to become a better judge? Start tracking prices now, says John Boyd, co-founder of ShopSavvy, a price comparison app. Using an app to explore a product’s price history can help you see through retailers’ marketing tactics.

“Sometimes a good sale is really hard to detect because you’re just bombarded with ‘Oh, we’ve got this super sale and it’s X% or Y% off’, and there’s no context at all” , says Boyd.

Familiarize yourself with the prices in the days leading up to Black Friday, November 25 this year. ShopSavvy and other shopping tools, like PayPal Honey, can also alert you to price drops for specific items and compare prices between retailers so you can find the best deals.

In stock

Sometimes getting the freebie on your list is more important than getting the biggest discount. The 2021 holiday shopping season has proven that deals aren’t guaranteed to last: widespread supply chain issues and growing demand have led to inventory shortages and shipping delays. Many experts believe that supply problems will not be as widespread this year. However, popular items could still fly off the shelves.

“Some toys, for example consoles and some games more than likely will sell out quickly,” says G. Tony Bell, assistant professor in the department of supply chain management at Rutgers Business School. “So I would say, definitely buy early. The price advantage of buying later than buying sooner will be minimal at best.

Buying early could be the right decision, even if the price of the product you want drops significantly after purchase.

“Most stores will allow you to return or give you credit if it goes on sale within a certain number of days,” says Debra Radway, a certified financial planner and associate professor at WP Carey School of Business in India. Arizona State University.

Explore retailers’ return, exchange, and price adjustment policies before shopping so you know what to expect.

Adapted budget

More importantly, a Black Friday deal should fit your budget. A TV in stock and on sale at 99% off is still not worth buying if the remaining 1% is out of your price range.

As Bell simply puts it: “Buy what you can afford”.

Bell warns against giving new credit for Black Friday purchases, such as credit cards or installment loans known as buy-it-now, pay-later plans, due to fees potential interest or the impact on your credit score if you are unable to repay.

And it’s a real possibility: According to a 2022 holiday shopping report from NerdWallet, 31% of holiday shoppers who used a credit card to buy gifts in 2021 are still in debt.

“Making a list of who you want to buy for the holidays and budgeting before you go shopping will really help you control your spending this holiday season,” says Radway.

However, keep in mind that it’s okay to ignore Black Friday sales altogether. Your loved ones may appreciate something homemade, like cookies or a heartfelt card, just as much as a flashy new gift from a store. And you save money. It’s a good thing.

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Credit card fees will be reviewed in January https://freedomtoons.org/credit-card-fees-will-be-reviewed-in-january/ Wed, 16 Nov 2022 16:00:00 +0000 https://freedomtoons.org/credit-card-fees-will-be-reviewed-in-january/ Lawrence Agcaoili – The Filipino Star November 17, 2022 | 00:00 MANILA, Philippines — Credit card issuers are eagerly awaiting a review of the credit card transaction cap to be conducted by the Bangko Sentral ng Pilipinas (BSP) in January. The Credit Card Association of the Philippines (CCAP) released the statement after the BSP decided […]]]>
Lawrence Agcaoili – The Filipino Star

November 17, 2022 | 00:00

MANILA, Philippines — Credit card issuers are eagerly awaiting a review of the credit card transaction cap to be conducted by the Bangko Sentral ng Pilipinas (BSP) in January.

The Credit Card Association of the Philippines (CCAP) released the statement after the BSP decided to keep the cap on interest rates and fees on credit card transactions until the end of December before revisiting them. in January next year.

“CCAP acknowledges BSP’s decision to maintain the current cap on credit card interest rates. We are confident and look forward to our regulator’s full review by January 2023. The review has always included micro and macro factors relevant to the times, in particular the rise in policy rates at the end of the year 2022,” he said in a statement.

With the appeal letter sent to the BSP in September, CCAP is optimistic that the regulator has considered the factors impacting the credit card industry as a whole.

“Throughout these pandemic years, the credit card industry has helped not only our members and all players in the payment ecosystem, but also our fellow Filipinos. Even though we faced unprecedented challenges, we also overcame these obstacles and built even more strength by helping each other in the true Bayanihan spirit,” CCSI said.

He noted that with the pandemic spurring the rapid adoption of new virtual payment technologies by consumers, credit cards are an efficient, secure and convenient payment tool that drives and contributes to the country’s overall digitalization goal. .

“With market-driven tariffs, this will not only help drive competition in the industry, but also drive financial inclusion – all of which helps our Filipino consumers as a bottom line,” CCAP said.

Consumers should continue to enjoy low interest rates and fees on their credit card transactions at least through the Christmas holidays after the central bank decided to keep the current cap until the end of the year .

“No big reason. Just the timing of the cap adjustment,” BSP Governor Felipe Medalla told The STAR earlier.

Medalla, who chairs the seven-member Monetary Council, said the regulator was finally adjusting the rate cap and other charges after a series of aggressive rate hikes imposed by the BSP to tame inflation and stabilize the peso.

The interest rate or finance charge cap of 2% per month and 24% per annum on the outstanding credit card balance was imposed in November 2020 to help ease the burden on Filipino consumers under the COVID-19 pandemic.

Before the cap was imposed at the height of the global health crisis, the annualized interest rate on credit card receivables averaged 36%.

Similarly, the additional monthly rate that credit card issuers could charge on installment loans was maintained at a maximum rate of 1%, as well as the maximum processing fee of P200 per transaction on the use of advances funds on credit card.

The maximum rates and charges are subject to review by BSP every six months and a new rate was expected to be in place by early November.

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BSP maintains cap on credit card fees until the end of the year https://freedomtoons.org/bsp-maintains-cap-on-credit-card-fees-until-the-end-of-the-year/ Sat, 12 Nov 2022 16:00:00 +0000 https://freedomtoons.org/bsp-maintains-cap-on-credit-card-fees-until-the-end-of-the-year/ Lawrence Agcaoili – The Filipino Star November 13, 2022 | 00:00 MANILA, Philippines — Consumers are expected to continue to enjoy low interest rates and fees on their credit card transactions at least through the Christmas holidays after Bangko Sentral ng Pilipinas (BSP) decided to maintain the current cap until ‘at the end of the […]]]>
Lawrence Agcaoili – The Filipino Star

November 13, 2022 | 00:00

MANILA, Philippines — Consumers are expected to continue to enjoy low interest rates and fees on their credit card transactions at least through the Christmas holidays after Bangko Sentral ng Pilipinas (BSP) decided to maintain the current cap until ‘at the end of the year.

The central bank’s Monetary Board has decided to keep the cap on interest rates and fees on credit card transactions until the end of December before reviewing them in January next year.

“No big reason. Just the timing of the cap adjustment,” BSP Governor Felipe Medalla told The STAR.

Medalla, who chairs the seven-member Monetary Council, said earlier that the regulator was finally adjusting the rate cap and other charges after a series of aggressive rate hikes imposed by the BSP to tame inflation and stabilize the economy. peso.

The STAR first reported that the BSP imposes an interest rate or finance charge cap of 2% per month and 24% per annum on the outstanding credit card balance.

Similarly, additional monthly rates that credit card issuers could charge on installment loans were set at a maximum rate of 1%, as well as a maximum processing fee of P200 per transaction on the use of advances funds on credit card.

BSP formalized the imposition of the Monetary Board-approved cap through Circular 1098 issued in late September 2020 and the cap came into effect on November 3, 2020 to ease the burden on Filipinos affected by the global health crisis.

The maximum rates and charges are subject to review by BSP every six months and a new rate was expected to be in place by early November.

Before the cap was imposed at the height of the global health crisis, the annualized interest rate on credit card receivables averaged 36%.

After cutting policy rates by 200 basis points, bringing the benchmark rate down to a historic low of 2% as part of its COVID-19 response measures in 2020, the BSP turned hawkish by aggressively raising interest rates by 225 basis points to 4.25% this year to control inflation and stabilize the peso.

The central bank is widely expected to deliver another huge 75 basis point hike on Thursday after Medalla highlighted the need for the BSP Monetary Council to match the Federal Reserve’s aggressive rate hikes point by point. US in order to maintain the interest rate differential.

Philippine banks and credit card issuers have reported lower revenues since caps were imposed on credit card fees.

Preliminary data from the BSP showed credit card lending jumped 26.1 percent to 507.42 billion pesos at the end of September this year, from 402.41 billion pesos at the end of September. last year, consumer loans increased by 20.5% to 965.99 billion pesos against 801.4. billion.

During the nine-month period, total loans disbursed by major banks grew at a faster rate of 13.4% to reach 10.49 trillion pesos compared to a level of 9.25 trillion pesos a year ago. a year, supporting the recovery of economic activity and domestic demand.

From strict Alert Level 3 in January as infections surged with the highly transmissible variant of Omicron, the National Capital Region and neighboring provinces moved to Alert Level 1 in March as COVID cases -19 were steadily decreasing.

In the third quarter of the year, the Philippines recorded gross domestic product (GDP) growth of 7.6% faster than expected despite soaring inflation and a weak peso. This figure was slightly higher than the 7.5% expansion recorded in the second quarter.

The country is on track to meet the GDP growth target of 6.5-7.5% set by economic managers, with expansion averaging 7.7% for the January-September period.

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AFFIRM HOLDINGS, INC. MANAGEMENT REPORT AND ANALYSIS OF FINANCIAL POSITION AND OPERATING RESULTS (Form 10-Q) https://freedomtoons.org/affirm-holdings-inc-management-report-and-analysis-of-financial-position-and-operating-results-form-10-q/ Tue, 08 Nov 2022 22:32:06 +0000 https://freedomtoons.org/affirm-holdings-inc-management-report-and-analysis-of-financial-position-and-operating-results-form-10-q/ The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the interim condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q ("Form 10-Q") and our audited consolidated financial statements and the related notes and the discussion under the heading […]]]>
The following discussion and analysis of our financial condition and results of
operations should be read in conjunction with the interim condensed consolidated
financial statements and related notes included elsewhere in this Quarterly
Report on Form 10-Q ("Form 10-Q") and our audited consolidated financial
statements and the related notes and the discussion under the heading
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" for the fiscal year ended June 30, 2022 included in our Annual
Report on Form 10-K. Some of the information contained in this discussion and
analysis, including information with respect to our planned investments to drive
future growth, includes forward-looking statements that involve risks and
uncertainties. You should review the sections titled "Cautionary Note Regarding
Forward-Looking Statements" and "Risk Factors" of this Form 10-Q and our most
recently filed Annual Report on Form 10-K for a discussion of forward-looking
statements and important factors that could cause actual results to differ
materially from the results described in or implied by the forward-looking
statements contained in the following discussion and analysis. For the periods
presented, references to originating bank partners are to Cross River Bank and
Celtic Bank.

Overview

We are building the next generation platform for digital and mobile-first
commerce. We believe that by using modern technology, the very best engineering
talent, and a mission-driven approach, we can reinvent payments and commerce.
Our solutions, which are built on trust and transparency, make it easier for
consumers to spend responsibly and with confidence, easier for merchants to
convert sales and grow, and easier for commerce to thrive.

Our point-of-sale solutions allow consumers to pay for purchases in fixed
amounts without deferred interest, late fees, or penalties. We empower consumers
to pay over time rather than paying for a purchase entirely upfront. This
increases consumers' purchasing power and gives them more control and
flexibility. Our platform facilitates both true 0% APR payment options and
interest-bearing loans. On the merchant side, we offer commerce enablement,
demand generation, and customer acquisition tools. Our solutions empower
merchants to more efficiently promote and sell their products, optimize their
customer acquisition strategies, and drive incremental sales. We also provide
valuable product-level data and insights - information that merchants cannot
easily get elsewhere - to better inform their strategies. Finally, our consumer
app unlocks the full suite of Affirm products for a delightful end-to-end
consumer experience. Consumers can use our app to manage payments, open a
high-yield savings account, and access a personalized marketplace.

Our company is predicated on the principles of simplicity, transparency, and
putting people first. By adhering to these principles, we have built enduring,
trust-based relationships with consumers and merchants that we believe will set
us up for long-term, sustainable success. We believe our innovative approach
uniquely positions us to define the future of commerce and payments.

Technology and data are at the core of everything we do. Our expertise in
sourcing, aggregating, and analyzing data has been what we believe to be the key
competitive advantage of our platform since our founding. We believe our
proprietary technology platform and data give us a unique advantage in pricing
risk. We use data to inform our risk scoring in order to generate value for our
consumers, merchants, and capital partners. We collect and store petabytes of
information that we carefully structure and use to regularly recalibrate and
revalidate our models, thereby getting to risk scoring and pricing faster, more
efficiently, and with a higher degree of confidence. We also prioritize building
our own technology and investing in product and engineering talent as we believe
these are enduring competitive advantages that are difficult to replicate. Our
solutions use the latest in machine learning, artificial intelligence,
cloud-based technologies, and other modern tools to create differentiated and
scalable products.

We have achieved significant growth in recent periods. Our total revenue, net
was approximately $361.6 million and $269.4 million for the three months ended
September 30, 2022 and 2021, respectively. We

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incurred net losses of $251.3 million and $306.6 million for the three months
ended September 30, 2022 and 2021, respectively.

Our business is designed to scale efficiently. Our partnerships with banks and
other funding relationships have allowed us to remain equity capital efficient.
Since July 1, 2016, we have processed approximately $37.4 billion of GMV on our
platform. As of September 30, 2022, we had over $11.1 billion in funding
capacity from a diverse set of capital partners, including through our warehouse
facilities, securitization trusts, and forward flow arrangements, an increase of
$0.5 billion from $10.6 billion as of June 30, 2022.

Through the diversity of these funding relationships, the equity capital
required to build our total platform portfolio has declined from approximately
3% of the total platform portfolio as of June 30, 2022, to approximately 2% as
of September 30, 2022. This metric measures the equity intensity of our business
or the amount of capital used in relation to the scale of our enterprise. We
define our total platform portfolio as the unpaid principal balance outstanding
of all loans facilitated through our platform as of the balance sheet date,
including both those loans held for investment and those loans owned by
third-parties. This amount totaled $7.3 billion and $7.1 billion as of
September 30, 2022 and June 30, 2022, respectively. Additionally, we define the
equity capital required as the balance of loans held for investment plus loans
held for sale less funding debt and notes issued by securitization trusts, per
our interim condensed consolidated balance sheet. This amount totaled $175.3
million and $206.1 million as of September 30, 2022 and June 30, 2022,
respectively. Equity capital required as a percent of the last twelve months'
GMV was 1% as of both September 30, 2022 and June 30, 2022.

We believe that our continued success will depend on many factors, including our
ability to attract additional merchant partners, retain our existing merchant
partners, and grow and develop our relationships with new and existing merchant
partners, help our merchants grow their revenue on our platform, and develop new
innovative solutions to establish the ubiquity of our network and breadth of our
platform.

Our Financial Model

Our Revenue Model

From merchants, we earn a fee when we help them convert a sale and facilitate a
transaction. While merchant fees depend on the individual arrangement between us
and each merchant and vary based on the terms of the product offering, we
generally earn larger merchant fees on 0% APR financing products. We have two
loan product offerings: Pay-in-4 and Core loans. Pay-in-4 is a short-term
payment plan with four biweekly 0% APR installments, while Core loans include
all interest bearing installment loans and 0% APR monthly installment loans. For
the three months ended September 30, 2022, Pay-in-4 and Core 0% loans
represented 18% and 19%, respectively, of total GMV facilitated through our
platform. For the three months ended September 30, 2021, Pay-in-4 and Core 0%
loans represented 15% and 28%, respectively, of total GMV facilitated through
our platform.

From consumers, we earn interest income on the simple interest loans that we
originate or purchase from our originating bank partners. Interest rates charged
to our consumers vary depending on the transaction risk, creditworthiness of the
consumer, the repayment term selected by the consumer, the amount of the loan,
and the individual arrangement with a merchant. Because our consumers are never
charged deferred or compounding interest, late fees, or penalties on the loans,
we are not incentivized to profit from our consumers' hardships. In addition,
interest income includes the amortization of any discounts or premiums on loan
receivables created upon either the purchase of a loan from one of our
originating bank partners or the origination of a loan.

In order to accelerate our ubiquity, we facilitate the issuance of virtual cards
directly to consumers through our app, allowing them to shop with merchants that
may not yet be fully integrated with Affirm. When these virtual cards are used
over established card networks, we earn a portion of the interchange fee from
the transaction.



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Our Loan Origination and Servicing Model

When a consumer applies for a loan through our platform, the loan is
underwritten using our proprietary risk model. Once approved for the loan, the
consumer then selects his/her/their preferred repayment option. The substantial
majority of these loans are funded and issued by our originating bank partners.

A portion of the loan volume facilitated through our platform are originated
through our originating bank partners: Cross River Bank, an FDIC-insured New
Jersey state-chartered bank, and Celtic Bank, an FDIC-insured Utah
state-chartered industrial bank. These partnerships allow us to benefit from our
partners' ability to originate loans under their banking licenses while
complying with various federal, state, and other laws. Under this arrangement,
we must comply with our originating bank partners' credit policies and
underwriting procedures, and our originating bank partners maintain ultimate
authority to decide whether to originate a loan or not. When an originating bank
partner originates a loan, it funds the loan through its own funding sources and
may subsequently offer and sell the loan to us. Pursuant to our agreements with
these partners, we are obligated to purchase the loans facilitated through our
platform that our partner offers us and our obligation is secured by cash
deposits. To date, we have purchased all of the loans facilitated through our
platform and originated by our originating bank partners. When we purchase a
loan from an originating bank partner, the purchase price is equal to the
outstanding principal balance of the loan, plus a fee and any accrued interest.
The originating bank partner also retains an interest in the loans purchased by
us through a loan performance fee that is payable by us on the aggregate
principal amount of a loan that is paid by a consumer. See Note 13. Fair Value
of Financial Assets and Liabilities for more information on the performance fee
liability.

We are also able to originate loans directly under our lending, servicing, and
brokering licenses in Canada and across various states in the U.S. through our
consolidated subsidiaries. For the three months ended September 30, 2022, we
originated approximately $169.1 million or 4% of loans in Canada compared to
approximately $136.3 million or 5% of loans for the three months ended
September 30, 2021. For the three months ended September 30, 2022, we directly
originated $704.7 million or 16% of loans in the U.S. pursuant to our state
licenses, compared to approximately $386.3 million or 14% of loans for the three
months ended September 30, 2021.

We act as the servicer on all loans that we originate directly or purchase from
our originating bank partners and earn a servicing fee on loans we sell to our
funding sources. We do not sell the servicing rights on any of the loans,
allowing us to control the consumer experience end-to-end. To allow for flexible
staffing to support overflow and seasonal traffic, we partner with several
sub-servicers to manage customer care, first priority collections, and
third-party collections in accordance with our policies and procedures.

Main operating parameters


We focus on several key operating metrics to measure the performance of our
business and help determine strategic direction. In addition to revenue, net
(loss) income, and other results under U.S. GAAP, the following tables set forth
key operating metrics we use to evaluate our business.

                                                   Three Months Ended
                                                      September 30,
                                                  2022                    2021          % Change
                                               (in thousands, except per consumer data)
Gross Merchandise Volume (GMV)        $      4,389,417                $ 2,712,939           62  %
Active Consumers                                14,722                      8,692           69  %
Transactions per Active Consumer                   3.3                          2.3         39  %


GMV

We measure GMV to gauge the volume of transactions taking place on our platform. We define GMV as the total dollar amount of all transactions on the Affirm Platform during the applicable period, net of refunds. GMV

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does not represent revenue earned by us. However, the GMV processed through our
platform is an indicator of the success of our merchants and the strength of our
platform. For the three months ended September 30, 2022, GMV was $4.4 billion,
which represented an increase of approximately 62% as compared to $2.7 billion
for the three months ended September 30, 2021.

Active consumers


We assess consumer adoption and engagement by the number of active consumers
across our platform. Active consumers are the primary measure of the size of our
network. We define an active consumer as a consumer who engages in at least one
transaction on our platform during the 12 months prior to the measurement date.
As of September 30, 2022, we had 14.7 million active consumers, representing an
increase of approximately 69% compared to 8.7 million as of September 30, 2021.

Transactions per active consumer


We believe the value of our network is amplified with greater consumer
engagement and repeat usage, highlighted by increased transactions per active
consumer. Transactions per active consumer is defined as the average number of
transactions that an active consumer has conducted on our platform during the
12 months prior to the measurement date. As of September 30, 2022, we had
approximately 3.3 transactions per active consumer, an increase of approximately
39% compared to September 30, 2021.

Factors affecting our performance

Expand our network, diversity and mix of funding relationships


Our capital efficient funding model is integral to the success of our platform.
As we scale the number of transactions on our network and grow GMV, we maintain
a variety of funding relationships in order to support our network. Our
diversified funding relationships include warehouse facilities, securitization
trusts, forward flow arrangements, and partnerships with banks. Given the short
duration and strong performance of our assets, funding can be recycled quickly,
resulting in a high-velocity, capital efficient funding model. We have continued
to reduce the percentage of our equity capital required to fund our total
platform portfolio from approximately 3% as of June 30, 2022, to approximately
2% as of September 30, 2022. The mix of on-balance sheet and off-balance sheet
funding is a function of both how we choose to allocate loan volume and the
available supply of capital, both of which may also impact our results in any
given period.

Mix of activities on our platform


The mix of products that our merchants offer and our consumers purchase in any
period affects our operating results. In addition, shifts in volume among
merchants in any period also affects our operating results. These mix impacts
affect GMV, revenue, our financial results, and our key operating metric
performance for that period. Differences in product mix relate to different loan
durations, APR mix, and varying proportion of 0% APR versus interest-bearing
financings.

Product and economic terms of commercial agreements vary among our merchants.
For example, our low average order value ("AOV") products generally benefit from
shorter duration, but also have lower revenue as a percentage of GMV when
compared to high AOV products. Merchant mix shifts are driven in part by the
products offered by the merchant, the economic terms negotiated with the
merchant, merchant-side activity relating to the marketing of their products,
whether the merchant is fully integrated within our network, and general
economic conditions affecting consumer demand. Our revenue as a percentage of
GMV in any given period varies across products. As such, as we continue to
expand our network to include more merchants, revenue as a percentage of GMV
will vary. In addition, our commercial agreement with Shopify to offer Shop Pay
Installments powered by Affirm and our Pay-in-4 offering will continue to impact
the mix of our shorter duration, low AOV products. Differences in the mix of
high versus low AOV will also impact our results. For example, we expect that
transactions per active consumer may increase while revenue as a percentage of
GMV may decline in the medium term to the extent that a greater portion of our
GMV comes from Pay-in-4 and other low-AOV offerings.

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Seasonality

We experience seasonal fluctuations in our revenue as a result of consumer
spending patterns. Historically, our revenue has been the strongest during the
second quarter of our fiscal year due to increases in retail commerce during the
holiday season. Adverse events that occur during these months could have a
disproportionate effect on our financial results for the fiscal year.

Operating results


The following tables set forth selected interim condensed consolidated
statements of operations and comprehensive loss data for each of the periods
presented in dollars:

                                           Three Months Ended September 30,                            Change
                                              2022                    2021                    $                      %
                                                                 (in thousands, except percentages)
Revenue
Merchant network revenue              $         113,149          $     92,244          $     20,905                      23  %
Virtual card network revenue                     26,708                19,395                 7,313                      38  %
Total network revenue                           139,857               111,639                28,218                      25  %
Interest income (1)                             136,802               117,302                19,500                      17  %
Gain on sales of loans (1)                       63,595                30,979                32,616                     105  %
Servicing income                                 21,370                 9,465                11,905                     126  %
Total Revenue, net                    $         361,624          $    269,385          $     92,239                      34  %
Operating Expenses (2)
Loss on loan purchase commitment      $          35,610          $     51,678          $    (16,068)                    (31) %
Provision for credit losses                      64,250                63,647                   603                       1  %
Funding costs                                    25,066                16,753                 8,313                      50  %
Processing and servicing                         54,359                25,201                29,158                     116  %
Technology and data analytics                   144,961                78,013                66,948                      86  %
Sales and marketing                             163,873                63,960                99,913                     156  %
General and administrative                      160,972               136,204                24,768                      18  %
Total Operating Expenses                        649,091               435,456               213,635                      49  %
Operating Loss                        $        (287,467)         $   (166,071)         $   (121,396)                     73  %
Other (expense) income, net                      36,018              (140,373)              176,391                    (126) %
Loss Before Income Taxes              $        (251,449)         $   (306,444)         $     54,995                     (18) %
Income tax expense (benefit)                       (180)                  171                  (351)                   (205) %
Net Loss                              $        (251,269)         $   (306,615)         $     55,346                     (18) %




(1)Upon purchase of a loan from our originating bank partners at a price above
the fair market value of the loan or upon the origination of a loan with a par
value in excess of the fair market value of the loan, a discount is included in
the amortized cost basis of the loan. For loans held for investment, this
discount is amortized over the life of the loan into interest income. When a
loan is sold to a third-party loan buyer or off-balance sheet securitization
trust, the unamortized discount is released in full at the time of sale and
recognized as part of the gain or loss on sales of loans. However, the
cumulative value of the loss on loan purchase commitment or loss on origination,
the interest income recognized over time from the amortization of discount while
retained, and
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the release of discount into gain on sales of loans, together net to zero over
the life of the loan. The following table details activity for the discount,
included in loans held for investment, for the periods indicated:

                                                                 Three Months Ended September 30,
                                                                    2022                    2021
                                                                          (in thousands)
Balance at the beginning of the period                       $         

42,780 $53,177
Additions from loans purchased or granted, net of repayments 70,394

               77,270
Amortization of discount                                              (38,969)             (38,445)
Unamortized discount released on loans sold                           (15,174)             (38,345)
Impact of foreign currency translation                       $         (1,554)         $         -
Balance at the end of the period                             $         57,477          $    53,657



(2) Amounts include stock-based compensation as follows:

                                                                   Three Months Ended September 30,
                                                                       2022                    2021
                                                                            (in thousands)
General and administrative                                     $          67,340          $    67,742
Technology and data analytics                                             43,428               20,067
Sales and marketing                                                        8,128                5,024
Processing and servicing                                                     912                  356
Total stock-based compensation in operating expenses                     119,808               93,189
Capitalized into property, equipment and software, net                    21,204               11,690
Total stock-based compensation expense                         $         

141,012 $104,879

Comparison of the three months ended September 30, 2022 and 2021

Total income, net



Total Revenue, net increased by $92.2 million or 34% for the three months ended
September 30, 2022, compared to the same period 2021, primarily attributable to
an increase of $1.7 billion in GMV on our platform, from $2.7 billion for the
three months ended September 30, 2021 to $4.4 billion for the three months ended
September 30, 2022. The increase in GMV was driven by the strong network effects
of the expansion of our active merchant base from 102,217 as of September 30,
2021 to 244,920 as of September 30, 2022, an increase in active consumers from
8.7 million as of September 30, 2021 to 14.7 million as of September 30, 2022,
and an increase in average transactions per consumer from 2.3 as of
September 30, 2021 to 3.3 as of September 30, 2022.

Merchant network revenue increased by $20.9 million or 23% for the three months
ended September 30, 2022 compared to the same period 2021. Merchant network
revenue growth is generally correlated with both GMV growth and the mix of loans
on our platform as different loan characteristics are positively or negatively
correlated with merchant fee revenue as a percentage of GMV. In particular,
merchant network revenue as a percentage of GMV typically increases with the
term length and AOV of our loans, and typically decreases with shorter duration
and higher APR loans. Specifically, long-term 0% APR loans typically carry
higher merchant fees as a percentage of GMV and have higher AOVs.

The increase in merchant network revenue over the three-month period was primarily due to an increase in GMV, partially offset by reductions in long-term loan concentration at 0% APR, our largest merchant fee category. higher, which decreased by 13% of the total GMV. in the three months ended
September 30, 2021 at 5% during the three months ended September 30, 2022. About 2% of the total turnover was generated by our

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largest merchant partner by merchant network revenue for the three months ended
September 30, 2022, for which we facilitate long-term 0% APR loans with higher
merchant fees, compared with 10% of total revenue in the comparative period.
More broadly, for the three months ended September 30, 2022 and 2021, loans with
term lengths greater than 12 months accounted for 17% and 20% of GMV,
respectively, and AOV was lower at $331 and $402 for the three months ended
September 30, 2022 and 2021, respectively, primarily as a result of the
increased adoption of our Pay-in-4 product during the period.

Additionally, during the three months ended September 30, 2022, there was a
reduction of merchant fee revenue of $1.7 million associated with the creation
of discounts upon directly origination of loans with par values in excess of the
fair value of such loans. For the three months ended September 30, 2022, we
directly originated $0.9 billion of loans, an increase of 67.3% compared to $0.5
billion during the three months ended September 30, 2021. While the discounts
created upon the origination of a loan reduce merchant network revenue at the
time of origination, the discounts are amortized into interest income over the
life of the respective loans when retained on the balance sheet and any
unamortized discount is reflected in the cost basis when determining gain on
sale of loans.

Virtual card network revenue increased by $7.3 million or 38% for the three
months ended September 30, 2022, compared to the same period 2021, primarily
driven by an increase in GMV processed through our issuer processor as a result
of increased activity on our virtual card-enabled mobile application, as well as
growth in existing and new merchants integrated using our virtual card platform,
growing from 859 merchants as of September 30, 2021 to 1,120 merchants as of
September 30, 2022. Virtual card network revenue is also impacted by the mix of
merchants as different merchants can have different interchange rates depending
on their industry or size, among other factors.

Interest income increased by $19.5 million or 17% for the three months ended
September 30, 2022 compared to the same period 2021. Generally, interest income
is correlated with the changes in the average balance of loans held for
investment, as we recognize interest on loans held for investment using the
effective interest method over the life of the loan. The average balance of
loans held for investment increased by 22% to $2.6 billion for the three months
ended September 30, 2022, compared to the same period 2021.

Gain on sales of loans increased by $32.6 million or 105% for the three months
ended September 30, 2022, compared to the same period 2021, mainly driven by
increased loan sale activity to third-party loan buyers. We sold loans with an
unpaid balance of $2.0 billion for the three months ended September 30, 2022 and
$1.1 billion for the three months ended September 30, 2021, for which we
retained servicing rights. This increase was driven by higher loan sale volume
to third-party loan buyers and off-balance sheet securitizations, favorable loan
sale pricing terms, and optimizing the allocation of loans to loan buyers with
higher pricing terms.

Servicing income increased by $11.9 million or 126% for the three months ended
September 30, 2022 compared to the same period 2021, driven primarily by an
increase in the average unpaid principal balance of loans owned by third-party
loan owners, which increased from $2.6 billion during the three months ended
September 30, 2021 to $4.6 billion during the three months ended September 30,
2022. Additionally, during the three months ended September 30, 2022, an
increase of $2.4 million related to the changes in fair value of servicing
assets and liabilities contributed to the overall increase in servicing income,
compared to the same period 2021.

Loss on loan purchase commitment


We purchase certain loans from our originating bank partners that are processed
through our platform and our originating bank partners put back to us. Under the
terms of the agreements with our originating bank partners, we are generally
required to pay the principal amount plus accrued interest for such loans. In
certain instances, our originating bank partners may originate loans with zero
or below market interest rates that we are required to purchase. In these
instances, we may be required to purchase the loan for a price in excess of the
fair market value of such loans, which results in a loss. These losses are
recognized as loss on loan purchase commitment in our interim condensed
consolidated statements of operations and comprehensive loss. These costs are
incurred on a per loan basis.

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Loss on loan purchase commitment decreased by $16.1 million or 31% for the three
months ended September 30, 2022 compared to the same period 2021. This decrease
was due to a decrease in the volume of long-term 0% APR loans purchased from our
originating bank partners compared to the prior period, which are purchased
above fair market value. The difference between fair value and purchase price
for our loans is generally correlated with the term length. As such, the
reduction in long term 0% loans purchased from our bank partner contributed to
the decline in loss on loan purchase commitment. During the three months ended
September 30, 2022, we purchased $396.6 million of long-term 0% APR loan
receivables from our originating bank partners, representing a decrease of $61.5
million or 13% compared to the same period 2021.

Provision for credit losses


Provision for credit losses generally represents the amount of expense required
to maintain the allowance for credit losses on our consolidated balance sheet,
which represents management's estimate of future losses. In the event that our
loans outperform expectation and/or we reduce our expectation of credit losses
in future periods, we may release reserves and thereby reduce the allowance for
credit losses, yielding income in the provision for credit losses. The provision
is determined by the change in estimates for future losses and the net
charge-offs incurred in the period. We record provision expense for each loan we
retain as loans held for investment, whether we originate the loan or purchase
it from one of our originating bank partners.

Provision for credit losses expense remained relatively comparable period over
period with a slight increase of $0.6 million for the three months ended
September 30, 2022, compared to the same period 2021, primarily due to growth in
the volume of loans held for investment, offset by improvements in the credit
quality of loans outstanding and updates to the assumptions used in our credit
loss valuation model, including a refinement to the application of our stress
loss multiple. Total loans held for investment was $2.7 billion and $2.2 billion
as of September 30, 2022 and 2021, respectively. The allowance for credit losses
as a percentage of loans held for investment decreased from 6.8% as of
September 30, 2021 to 5.7% as of September 30, 2022.

Funding costs

Financing costs include interest expense and amortization of fees for certain borrowings, including on-balance sheet VIEs and sale and repurchase agreements, and other costs incurred in financing purchases and loan origination.


Funding costs increased by $8.3 million or 50% for the three months ended
September 30, 2022, compared to the same period 2021. Funding costs for a given
period are correlated with the sum of the average balance of funding debt and
the average balance of notes issued by securitization trusts. The increase was
primarily due to increased interest rates and the increase of notes issued by
securitization trusts during the current fiscal year, which bear interest at
fixed rates. Additionally, the increase is attributable to a larger volume of
on-balance sheet loans being retained during the period. The average balance of
notes issued by securitization trusts during the three months ended
September 30, 2022 was $1.7 billion compared with $1.4 billion during the same
period 2021. The average balance of funding debt for the three months ended
September 30, 2022 was $732.6 million compared with $582.7 million during the
same period 2021. Combined, average total debt for the three months ended
September 30, 2022 increased by $424.9 million or 21% compared to the
three months ended September 30, 2021, while the average reference interest rate
during each period increased by 239 basis points. The average loan balance
on-balance sheet was $4.6 billion and $2.6 billion for the three months ended
September 30, 2022 and 2021, respectively.

Treatment and maintenance


Processing and servicing expense consists primarily of payment processing fees,
third-party customer support and collection expense, salaries and
personnel-related costs of our customer care team, platform fees, and allocated
overhead.

Processing and servicing expense increased by $29.2 million or 116% for the
three months ended September 30, 2022, compared to the same period 2021. This
increase was primarily driven by a $14.5 million or 101% increase in payment
processing fees related to increased payment volume, and an increase of $8.1
million in processing fees paid to our platform partners due to platform
integrations as well as short term promotions during

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the previous period. In addition, during the three months ended September 30, 2022third-party loan management and collection expenses increased $4.7 million or 66%, compared to the same period of 2021 due to increased lending volume and transaction growth during the period.

Technology and data analysis


Technology and data analytics expense consists primarily of the salaries,
stock-based compensation, and personnel-related costs of our engineering and
product employees as well as our credit and analytics employees who develop our
proprietary risk model and internally-developed software.

Technology and data analytics expense increased by $66.9 million or 86% for the
three months ended September 30, 2022, compared to the same period 2021. This
increase is primarily due to an increase of $35.1 million or 69% in
employee-related costs resulting from increased headcount as we continue to
support our growth and technology platform as a whole. Additionally, data
infrastructure and hosting costs increased by $15.8 million or 106%, compared to
the same period 2021, due to increased capacity requirements of our technology
platform driven by increases in active users and transactions per active
consumer.

Furthermore, amortization of internally-developed software increased by $8.3
million or 230%, compared to the same period 2021, primarily as a result of an
increase in the number of capitalized projects during the period due to our
ongoing investment in software development. Capitalized projects grew by 136%
from 141 projects to 333 projects for the three months ended September 30, 2022,
compared to the same period 2021.

Sales and Marketing


Sales and marketing costs consist of the expense related to warrants and other
share-based payments granted to our enterprise partners, salaries and
personnel-related costs, as well as costs of general marketing and promotional
activities, promotional event programs, sponsorships, and allocated overhead.

Sales and marketing expense increased by $99.9 million or 156% for the three
months ended September 30, 2022, compared to the same period 2021, primarily
driven by $119.1 million of increased expense related to warrants granted to
Amazon in the second quarter of fiscal 2021. The increase was partially offset
by, a $8.4 million or 72% decrease in brand and consumer marketing spend during
the three months ended September 30, 2022 compared to the three months ended
September 30, 2021, associated with our brand-activation, holiday shopping,
lifestyle, and travel marketing campaigns, as well as a $4.5 million or 74%
decrease in business-to-business marketing spend compared to the three months
ended September 30, 2021. The decreases were primarily due to reduced number of
marketing and brand partnerships, as well as reduced spending on existing
partnerships.

General and administrative


General and administrative expenses consist primarily of expenses related to our
finance, legal, risk operations, human resources, and administrative personnel.
General and administrative expenses also include costs related to fees paid for
professional services, including legal, tax and accounting services, allocated
overhead, and certain discretionary expenses incurred from operating our
technology platform.

General and administrative expense increased by $24.8 million or 18% for the
three months ended September 30, 2022, compared to the same period 2021
primarily due to an increase of $18.1 million related to employee-related costs
resulting from increased headcount during the period compared to the same prior
period. Additionally, professional fees increased by $6.1 million or 76% during
the three months ended September 30, 2022 compared to the same period 2021 to
support our international expansion, and regulatory compliance programs.

Other (expenses) income, net


Other (expense) income, net consists primarily of interest earned on our money
market funds included in cash and cash equivalents and restricted cash, interest
earned on securities available for sale, gains and losses incurred on derivative
agreements, amortization of convertible debt issuance cost and revolving credit
facility issuance costs, and fair value adjustments resulting from changes in
the fair value of our contingent consideration liability, primarily driven by
changes in the market price of our Class A common stock.

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Other (expense) income, net increased by $176.4 million or 126% for the
three months ended September 30, 2022, compared to the same period 2021. This
increase was largely due to changes in the fair value of our contingent
consideration liability associated with our acquisition of PayBright of $138.8
million during the period compared to the same period 2021, driven by changes in
the value of our common stock. Additionally, a gain of $30.7 million on
derivative instruments contributed to the overall increase of other (expenses)
income, net due to additional derivative instruments being entered into during
the period, and increases in their fair value associated with upward shifts in
forward curves and higher market volatility.

Cash and capital resources

Sources and uses of funds


We maintain a capital-efficient model through a diverse set of funding sources.
When we originate a loan directly or purchase a loan originated by our
originating bank partners, we often utilize warehouse facilities with certain
lenders to finance our lending activities or loan purchases. We sell the loans
we originate or purchase from our originating bank partners to whole loan buyers
and securitization investors through forward flow arrangements and
securitization transactions, and earn servicing fees from continuing to act as
the servicer on the loans. We proactively manage the allocation of loans on our
platform across various funding channels based on the market environment and our
ability to access capital markets. With rising interest rates and inflation, our
excess funding capacity and committed and long-term relationships with a diverse
group of existing funding partners help provide flexibility as we optimize our
funding to support the continued growth of originations.

Our principal sources of liquidity are cash and cash equivalents, available for
sale securities, available capacity from warehouse and revolving credit
facilities, revolving securitizations, forward flow loan sale arrangements, and
certain cash flows from our operations. As of September 30, 2022, we had $2.8
billion in cash and cash equivalents and available for sale securities, $2.6
billion in funding capacity remaining across our primary funding channels and
$205.0 million in borrowing capacity available under our revolving credit
facility.

The following table summarizes our cash, cash equivalents and investments in debt securities (in thousands):


                                                              September 30, 2022           June 30, 2022
Cash and cash equivalents (1)                               $         1,530,132          $     1,255,171
Investments in short-term debt securities (2)                           957,915                1,295,811
Investments in long-term debt securities (2)                            279,376                  299,562
 Cash, cash equivalent and investments in debt
securities                                                  $         2,767,423          $     2,850,544




(1)Cash and cash equivalents consist of bank accounts, money market funds,
certificates of deposits, other commercial paper, and government bonds with
maturities less than three months.
(2)Securities available for sale at fair value primarily consist of certificates
of deposits, corporate bonds, commercial paper, and government bonds. Short-term
securities have maturities less than or equal to one year, and long-term
securities range from greater than one year to less than five years.

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Available Credit and Funding Debt

Our available capacity as of September 30, 2022 primarily include warehouse
credit facilities, convertible senior notes, revolving credit facilities and
repurchase liabilities. A detailed description of each of our borrowing
arrangements is included in Note 10. Debt in the notes to the interim condensed
consolidated financial statements.

The following table summarizes our funding credit facilities as of September 30,
2022. The funding debt consists of warehouse credit facilities, revolving credit
facilities, and repurchase liabilities:

Maturity Fiscal Year        Borrowing Capacity       Principal Outstanding
                                            (in thousands)
2023                       $           182,550      $              170,991
2024                                 1,400,805                     342,631
2025                                   400,000                      46,579
2026                                   582,550                     164,145
2027                                   250,000                      29,853
2028 and thereafter                    600,000                      50,544
Total                      $         3,415,905      $              804,743


Warehouse Credit Facilities

Our warehouse credit facilities, which allow us to borrow up to an aggregate of
$3.4 billion, mature between 2023 and 2029 and, subject to covenant compliance,
generally permit borrowings up to 12 months prior to the final maturity date. As
of September 30, 2022, we have drawn an aggregate of $770.7 million on our
warehouse facilities. As of September 30, 2022, we were in compliance with all
applicable covenants in the agreements. Refer to Note 10. Debt in the notes to
the interim condensed consolidated financial statements included elsewhere in
this Form 10-Q for further details on our warehouse credit facilities.

Senior Convertible Bonds


We closed on the issuance of $1.7 billion aggregate principal amount of a
convertible senior note which does not bear regular interest, and will mature on
November 15, 2026 unless earlier converted, redeemed, or repurchased in
accordance with their terms. Refer to Note 10. Debt in the notes to the interim
condensed consolidated financial statements for further details on our
convertible debt note.

Revolving credit facility


In February 2022, we entered into a revolving credit agreement for a $165.0
million unsecured revolving credit facility, maturing on February 4, 2025, which
was subsequently amended to increase the unsecured revolving commitments to
$205.0 million. The facility contains certain covenants and restrictions,
including certain financial maintenance covenants. As of September 30, 2022, we
were in compliance with all applicable covenants in the agreements. To date,
there are no borrowings outstanding under the facility. Refer to Note 10. Debt
in the notes to the interim condensed consolidated financial statements for
further details on our revolving credit facilities.

Securitizations


In connection with asset-backed securitizations, we sponsor and establish trusts
(deemed to be VIEs) to ultimately purchase loans facilitated by our platform.
Securities issued from our asset-backed securitizations are senior or
subordinated, based on the waterfall criteria of loan payments to each security
class. The subordinated residual interests issued from these transactions are
first to absorb credit losses in accordance with the waterfall criteria. We
consolidate securitization VIEs when we are deemed to be the primary beneficiary
and therefore have the power to direct the activities that most significantly
affect the VIEs' economic performance and a variable interest that could
potentially be significant to the VIE. Where we consolidate the securitization
trusts, the loans held

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in the securitization trusts are included in loans held for investment, and the
notes sold to third-party investors are recorded in notes issued by
securitization trusts in the interim condensed consolidated balance sheets.
Refer to Note 11. Securitization and Variable Interest Entities.

Factors Affecting Liquidity


We believe our current levels of cash, cash equivalents, marketable debt
securities, available borrowing capacity under our revolving credit facilities
and other liquidity actions currently available to us are sufficient to meet our
liquidity requirements for at least the next 12 months. However, we cannot
provide assurance that our business will generate sufficient cash flows from
operations or that future borrowings will be available to us in an amount
sufficient to enable us to fund our liquidity needs in the long-term. Our
ability to do so depends on prevailing economic conditions and other factors,
many of which are beyond our control.

The principal factors that could impact our liquidity and capital needs are
customer delinquencies and defaults, a prolonged inability to adequately access
capital market funding, declines in loan purchases and therefore revenue, and
fluctuations in our financial performance. If our available cash balances are
insufficient to satisfy our liquidity requirements, we will seek additional
equity or debt financing. In a rising interest rate environment, our ability to
issue additional equity or incur debt may be impaired and our borrowing costs
may increase. Additionally, we may be subject to restrictions and covenants in
the agreements governing these transactions that may place limitations on us,
and we may be required to pledge additional collateral as security. If we are
unable to raise additional capital or generate the necessary cash flows, our
results of operations and financial condition could be materially and adversely
impacted.

Cash Flow Analysis

The following table provides a summary of cash flow data during the periods
indicated:

                                                                                Three Months Ended
                                                                                   September 30,
                                                                        2022                          2021
                                                                                  (in thousands)
Net Cash Provided by (Used in) Operating Activities                       51,215                       365,150
Net Cash Provided by (Used in) Investing Activities                      117,273                      (629,510)
Net Cash Provided by Financing Activities                                199,542                       243,953


Cash flow from operating activities


Our largest sources of operating cash are fees charged to merchant partners on
transactions processed through our platform and interest income from consumers'
loans. Our primary uses of cash from operating activities are for general and
administrative, technology and data analytics, funding costs, processing and
servicing, and sales and marketing expenses.

For the three months ended September 30, 2022, net cash used in operating
activities of $51.2 million stemmed from a net loss of $251.4 million and change
in our operating assets net of operating liabilities of $13.4 million, partially
offset by favorable change in net proceeds from sale and purchase of loans of
$52.6 million and a positive adjustment for non-cash items of $236.5 million.
The change in operating assets net of operating liabilities was primarily a
result of our purchase and sale of loans held for sale activities. We purchased
loans of $1.7 billion, which was largely offset by proceeds from loan sales of
$1.7 billion. The positive adjustment for non-cash items was primarily driven by
commercial agreement assets of $108.7 million which increased compared to the
first quarter of the prior year as a result of our commercial agreements with
Amazon, gain on sale of loans of $63.6 million which increased by $32.6 million
compared to the first quarter of the prior year as a result of improved loan
sale economics and increased loan sales, and stock-based compensation of $119.8
million which increased by $26.6 million resulting from incremental compensation
recognized from award modifications and increased headcount.

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For the three months ended September 30, 2021, net cash provided by operating
activities was $365.2 million stemmed from a net loss of $306.6 million,
partially offset by a favorable change in our operating assets net of operating
liabilities of $403.0 million and a positive adjustment for non-cash items of
$268.8 million. The change in operating assets net of operating liabilities was
primarily a result of changes in accounts payable of $368.1 million. The changes
in non-cash items was primarily driven by changes in fair value of assets and
liabilities of $139.9 million related to increase in the fair value of our
contingent consideration liability, driven by changes in the value of our common
stock.

Cash flow from investing activities


For the three months ended September 30, 2022, net cash provided by investing
activities of $117.3 million was primarily attributable to purchases and
origination of loans held for investment of $2.7 billion, partially offset by
repayments of loans of $2.5 billion. During the period we originated loans of
$0.8 billion and purchased loans of $1.9 billion, representing an increase of
$0.9 billion compared to the first quarter of the prior year, due partly to
continued growth in GMV. The repayments on loans of $2.5 billion during the
period, represented an increase of $0.9 billion, compared to the first quarter
of the prior year, due to a higher average balance of loans held for investment
and generally increasing credit quality of the portfolio. The additional offset
during the three months ended September 30, 2022 related to the net proceeds
from maturities of securities available for sale of $0.4 billion, representing
an increase of $0.8 billion compared to the first quarter of the prior year.

For the three months ended September 30, 2021, net cash used in investing
activities of $629.5 million was primarily attributable to purchases and
origination of loans held for investment of $1.8 billion and purchases of
securities available for sale of $0.4 billion, offset by repayments on loans and
proceeds from maturities of securities available for sale of $1.7 billion. We
originated loans of $0.5 billion and also purchased loans of $1.3 billion.

Cash flow from financing activities


For the three months ended September 30, 2022, net cash provided by financing
activities of $199.5 million, was primarily attributable to net cash sources
from funding debt and notes and residual trust certificates for the
securitization trusts of $1.4 billion. These were partially offset by our debt
repayments related to our lending activities of $1.2 billion, of which $1.1
billion were related to our warehouse facilities. Our payments of debt issuance
costs were in the normal course of business and reflective of our recurring debt
warehouse facility activity, which involves securing new warehouse facilities
and extending existing warehouse facilities. Finally, we paid taxes related to
RSU vesting of $27.3 million.

For the three months ended September 30, 2021, net cash provided by financing
activities of $244.0 million. We received $1.2 billion of proceeds from debt
financing activities related to our lending activities. These debt proceeds were
more than offset by $0.9 billion of debt repayments, of which $0.7 billion were
related to our warehouse facilities. Our payments of debt issuance costs were in
the normal course of business and reflective of our recurring debt warehouse
facility activity, which involves securing new warehouse facilities and
extending existing warehouse facilities. We also paid taxes related to RSU
vesting of $39.8 million.

Contractual obligations


There were no material changes outside of the ordinary course of business in our
commitments and contractual obligations for the three months ended September 30,
2022 from the commitments and contractual obligations disclosed in the section
titled "Management's Discussion and Analysis of Financial Condition and Results
of Operations - Contractual Obligations," set forth in our Annual Report on Form
10-K for the fiscal year ended June 30, 2022, which was filed with the SEC on
August 29, 2022.


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Contents

Off-balance sheet arrangements


Off-balance sheet loans relate to unconsolidated securitization transactions and
loans sold to third-party investors for which we have some form of continuing
involvement, including as servicer. For off-balance sheet loan sales where
servicing is the only form of continuing involvement, we would only experience a
loss if we were required to repurchase such a loan due to a breach in
representations and warranties associated with our loan sale or servicing
contracts. For unconsolidated securitization transactions where Affirm is the
sponsor and risk retention holder, Affirm could experience a loss of up to 5% of
both the senior notes and residual certificates. As of September 30, 2022, the
aggregate outstanding balance of loans held by third-party investors or
off-balance sheet VIEs was $4.5 billion. In the unlikely event principal
payments on the loans backing any off-balance sheet securitization are
insufficient to pay note holders, including any retained interest, then any
amounts the Company contributed to the securitization reserve accounts may be
depleted. Refer to Note 11. Securitization and Variable Interest Entities of the
accompanying notes to our interim condensed consolidated financial statements
for more information.

Significant Accounting Policies and Estimates


Our condensed consolidated financial statements have been prepared in accordance
with accounting principles generally accepted in the United States. In preparing
our condensed consolidated financial statements, we make judgments, estimates
and assumptions that affect reported amounts of assets and liabilities, as well
as revenues and expenses. We base our assumptions, judgments and estimates on
historical experience and various other factors that we believe to be reasonable
under the circumstances. The results involve judgments about the carrying values
of assets and liabilities not readily apparent from other sources. Actual
results could differ materially from these estimates under different assumptions
or conditions. We regularly evaluate our estimates, assumptions and judgments,
particularly those that include the most difficult, subjective or complex
judgments and are often about matters that are inherently uncertain. We evaluate
our critical accounting policies and estimates on an ongoing basis and update
them as necessary based on changes in market conditions or factors specific to
us. There have been no material changes in our significant accounting policies
or critical accounting estimates during the three months ended September 30,
2022.

For a complete discussion of our significant accounting policies and critical
accounting estimates, refer to our Annual Report on Form 10-K for the year ended
June 30, 2022 within Note 2 to the Notes to Consolidated Financial Statements
and "Management's Discussion and Analysis of Financial Condition and Results of
Operations- Critical Accounting Policies and Estimates".

Recent accounting standards issued but not yet adopted

See Note 2. Summary of Significant Accounting Policies in the Notes to the Condensed Interim Consolidated Financial Statements.

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Contents

© Edgar Online, source Previews

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Eagle Bancorp, Inc. (NASDAQ:EGBN) sees a significant drop in short-term interest https://freedomtoons.org/eagle-bancorp-inc-nasdaqegbn-sees-a-significant-drop-in-short-term-interest/ Sun, 30 Oct 2022 19:43:04 +0000 https://freedomtoons.org/eagle-bancorp-inc-nasdaqegbn-sees-a-significant-drop-in-short-term-interest/ Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Rating) was the target of a significant drop in short interest in October. As of October 15, there was short interest totaling 630,100 shares, down 10.1% from the September 30 total of 700,600 shares. Based on an average trading volume of 133,900 shares, the day-to-cover ratio is currently 4.7 […]]]>

Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Rating) was the target of a significant drop in short interest in October. As of October 15, there was short interest totaling 630,100 shares, down 10.1% from the September 30 total of 700,600 shares. Based on an average trading volume of 133,900 shares, the day-to-cover ratio is currently 4.7 days. Approximately 2.0% of the stock’s shares are sold short.

Eagle Bancorp Price Performance

Shares of EGBN rose $0.87 during Friday trading hours, hitting $45.35. The stock recorded trading volume of 205,833 shares, compared to an average trading volume of 134,941 shares. Eagle Bancorp has a one-year low of $41.97 and a one-year high of $63.84. The company has a debt ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s 50-day moving average price is $46.40 and its two-hundred-day moving average price is $48.13. The stock has a market capitalization of $1.45 billion, a price-earnings ratio of 9.73 and a beta of 0.91.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31. Shareholders of record on Monday, October 10 will receive a dividend of $0.45. The ex-date of this dividend is Thursday, October 6. This represents an annualized dividend of $1.80 and a dividend yield of 3.97%. Eagle Bancorp’s dividend payout ratio (DPR) is 38.63%.

A Wall Street analyst gives his opinion

Separately, StockNews.com began covering Eagle Bancorp in a Wednesday, October 12 report. They have set a “holding” rating on the stock.

Institutional investors weigh in on Eagle Bancorp

Several large investors have recently changed their positions in EGBN. Millennium Management LLC increased its equity stake in Eagle Bancorp to 436.6% in the second quarter. Millennium Management LLC now owns 394,797 shares of the financial services provider worth $18,717,000 after purchasing an additional 321,218 shares in the last quarter. Bank of Montreal Can increased its stake in Eagle Bancorp by 2,403.4% during the second quarter. Bank of Montreal Can now owns 217,697 shares of the financial services provider worth $10,469,000 after acquiring an additional 209,001 shares in the last quarter. FMR LLC increased its stake in Eagle Bancorp by 13.7% during the second quarter. FMR LLC now owns 1,463,109 shares of the financial services provider worth $69,366,000 after acquiring an additional 176,776 shares in the last quarter. Invesco Ltd. increased its stake in Eagle Bancorp to 95.6% during the first quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider worth $17,376,000 after acquiring an additional 148,941 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Eagle Bancorp by 923.1% during the second quarter. Cubist Systematic Strategies LLC now owns 147,524 shares of the financial services provider worth $6,994,000 after acquiring an additional 133,105 shares in the last quarter. 73.95% of the shares are held by institutional investors.

About Eagle Bancorp

(Get an assessment)

Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various commercial and consumer lending products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.

Further reading

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider Eagle Bancorp, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Eagle Bancorp was not on the list.

While Eagle Bancorp currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

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BayCom Corp (NASDAQ:BCML) Fiscal 2022 Earnings Forecast Released by DA Davidson https://freedomtoons.org/baycom-corp-nasdaqbcml-fiscal-2022-earnings-forecast-released-by-da-davidson/ Tue, 25 Oct 2022 10:49:36 +0000 https://freedomtoons.org/baycom-corp-nasdaqbcml-fiscal-2022-earnings-forecast-released-by-da-davidson/ BayCom Corp (NASDAQ:BCML – Get Rating) – DA Davidson cut its fiscal 2022 earnings estimates for BayCom in a research note published Monday, October 24. DA Davidson analyst G. Tenner now expects the company to earn $2.11 per share for the year, down from his previous forecast of $2.22. The consensus estimate of BayCom’s current […]]]>

BayCom Corp (NASDAQ:BCML – Get Rating) – DA Davidson cut its fiscal 2022 earnings estimates for BayCom in a research note published Monday, October 24. DA Davidson analyst G. Tenner now expects the company to earn $2.11 per share for the year, down from his previous forecast of $2.22. The consensus estimate of BayCom’s current annual earnings is $2.15 per share. DA Davidson also released estimates for BayCom’s fourth quarter 2022 earnings at $0.63 EPS.

BayCom stock up 1.7%

BCML stock opened at $18.20 on Tuesday. The stock has a market capitalization of $242.72 million, a P/E ratio of 9.38 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt ratio of 0.22. BayCom has a 12-month low of $17.52 and a 12-month high of $23.53. The company has a 50-day moving average price of $18.62 and a 200-day moving average price of $20.38.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their positions in BCML. Assenagon Asset Management SA increased its stake in BayCom shares to 85.9% in the first quarter. Assenagon Asset Management SA now owns 39,982 shares of the company valued at $870,000 after purchasing an additional 18,471 shares during the period. Royce & Associates LP increased its position in BayCom by 149.5% during the first quarter. Royce & Associates LP now owns 634,181 shares of the company valued at $13,806,000 after purchasing an additional 380,050 shares during the period. Aire Advisors LLC acquired a new stake in BayCom during Q1 valued at approximately $1,296,000. Western Wealth Management LLC acquired a new stake in BayCom during Q1 valued at approximately $318,000. Finally, BHZ Capital Management LP increased its position in BayCom by 37.0% during the 1st quarter. BHZ Capital Management LP now owns 155,790 shares of the company valued at $3,392,000 after purchasing an additional 42,094 shares during the period. Institutional investors and hedge funds hold 58.29% of the company’s shares.

Insider Trading at BayCom

In other news, Director Robert G. Laverne sold 8,650 shares in a trade dated Thursday, August 25. The shares were sold at an average price of $19.37, for a total value of $167,550.50. Following completion of the transaction, the director now owns 95,081 shares of the company, valued at $1,841,718.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Insiders of the company own 6.40% of the shares of the company.

BayCom announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 14. Shareholders of record on Friday, September 16 received a dividend of $0.05. The ex-dividend date was Thursday, September 15. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.10%. BayCom’s dividend payout ratio (DPR) is currently 10.31%.

About BayCom

(Get an evaluation)

BayCom Corp operates as a bank holding company for United Business Bank which provides various financial services to small and medium businesses, service professionals and individuals. The company offers current, savings, money market and term accounts. It also offers commercial and multi-family real estate loans, including home loans for homeowners and investors; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans including installment loans, secured and unsecured personal lines of credit and overdraft protection.

Recommended Stories

Earnings history and estimates for BayCom (NASDAQ:BCML)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider BayCom, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and BayCom wasn’t on the list.

Although BayCom currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

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Consumers Duped By Illegal Car Title Loans Eligible For Restitution: AG Shapiro | New https://freedomtoons.org/consumers-duped-by-illegal-car-title-loans-eligible-for-restitution-ag-shapiro-new/ Sun, 16 Oct 2022 21:00:00 +0000 https://freedomtoons.org/consumers-duped-by-illegal-car-title-loans-eligible-for-restitution-ag-shapiro-new/ Harrisburg, Pa. — Two out-of-state businesses will have to compensate Pennsylvania consumers who were scammed, according to the AP Attorney General’s Office. Josh Shapiro has announced a settlement with Kevin Williams and Mark Williams, owners of Dominion Management of Delaware, and Florida-based Approved Financial. Dominion Management of Delaware operated as CashPoint, a now defunct auto […]]]>

Harrisburg, Pa. — Two out-of-state businesses will have to compensate Pennsylvania consumers who were scammed, according to the AP Attorney General’s Office.

Josh Shapiro has announced a settlement with Kevin Williams and Mark Williams, owners of Dominion Management of Delaware, and Florida-based Approved Financial.

Dominion Management of Delaware operated as CashPoint, a now defunct auto title lending business. CashPoint made thousands of illegal loans to borrowers in Pennsylvania at annual interest rates exceeding 200%.

As a result of this settlement, Kevin Williams and Mark Williams will repay more than $1.5 million in illegal interest charges to consumers who fell victim to their scheme, according to a press release.

These refunds are in addition to the $3.2 million in debt forgiveness the victims have already received following an October 2021 court order. Shapiro originally filed suit against the defendants in 2018 and 2020.

Shapiro entered into a similar settlement with Florida-based auto title lender Approved Financial for alleged violations of Pennsylvania usury laws and unfair and deceptive business practices, according to the press release.

Under the terms of the AVC, Approved Financial will cancel all outstanding loans to Pennsylvania consumers. The company will also reimburse consumers in Pennsylvania for all fees and interest they paid, resulting in nearly 200 consumers receiving refunds totaling $21,500.

“Because they were based in Delaware and Florida, these defendants believed they could evade Pennsylvania laws,” Shapiro said. “But I don’t care where you are, if you’re exploiting consumers in Pennsylvania, you’re going to hear from my office. Today’s settlements hold CashPoint and Approved Financial accountable and warn other bad actors.

Title loans are high cost installment loans that require the borrower to pledge a vehicle title. Because title loans are extremely expensive, consumers typically turn to title lenders when they are most vulnerable, such as after losing a job or facing major medical bills. Under Pennsylvania’s usury and racketeering laws, title lending is effectively prohibited because title lenders typically charge interest rates well above the Commonwealth’s 6-24% annual interest limit, according to the Attorney General.

Under the CashPoint settlement, Mark Williams and Kevin Williams are prohibited from participating in, owning, or knowingly working for any company that extends credit to residents of Pennsylvania, for a period of seven years after making their last payment in the framework of the regulations.

The CashPoint settlement was filed in the Philadelphia Court of Common Pleas by Deputy Director of Consumer Financial Protection Nicholas Smyth.

The approved financial settlement was filed in the Court of Common Pleas in Philadelphia by Senior Deputy Attorney General Debra Warring. The TitleMax litigation was handled by Senior Deputy Attorneys General Claudia Tesoro and Sean Kirkpatrick and Deputy Attorney General Alexander Korn.

Consumers who believe they have been exploited by a similar car title lender can file a consumer complaint online or contact the Office of the Attorney General by calling 1-800-441-2555 or emailing scams@ attorneygeneral.gov.

Keep your news local

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We work hard to provide timely and relevant news, free of charge. 100% of your contribution to NorthcentralPa.com directly helps us cover news and events in the area.

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ALPIB Dividend announcement $0.1800/share 10/13/2022 https://freedomtoons.org/alpib-dividend-announcement-0-1800-share-10-13-2022/ Fri, 14 Oct 2022 00:19:40 +0000 https://freedomtoons.org/alpib-dividend-announcement-0-1800-share-10-13-2022/ Cl B Com/Alpine Banks of Colorado (OTCBB:ALPIB) declared on 10/13/2022 a dividend of $0.1800 per share payable October 31, 2022 to shareholders of record as of October 24, 2022. Cl B Com/Alpine Banks of Colorado (OTCBB: ALPIB) has paid dividends since 2019, has a current dividend yield of 2.3225808144% and has increased dividends for 1 […]]]>

Cl B Com/Alpine Banks of Colorado (OTCBB:ALPIB) declared on 10/13/2022 a dividend of $0.1800 per share payable October 31, 2022 to shareholders of record as of October 24, 2022.

Cl B Com/Alpine Banks of Colorado (OTCBB: ALPIB) has paid dividends since 2019, has a current dividend yield of 2.3225808144% and has increased dividends for 1 consecutive years.

The market capitalization of Cl B Com/Alpine Banks of Colorado is $233,988,000 and has a PE ratio of 8.22. The stock price closed yesterday at $31.00 and has a 52-week low/high of $29.00 and $39.00.

Alpine Banks of Colorado, through its wholly-owned subsidiary, offers a variety of personal and business banking services in 38 locations, primarily on Colorado’s West Slope and Front Range. Its main deposit products are demand deposits and certificates of deposit, and its main lending products are commercial business, real estate mortgage loans and installment loans. Co. also owns real estate, which primarily consists of commercial buildings.

For more information on Cl B Com/Alpine Banks of Colorado, click here.

Current Cl B Com/Alpine Banks of Colorado dividend information as of the date of this press release is:

Dividend declaration date: October 13, 2022
Ex-dividend date: October 21, 2022
Dividend record date: October 24, 2022
Dividend payment date: October 31, 2022
Dividend amount: $0.1800

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Park Cities Asset Management Provides $30M in Debt Funding Commitments to Applied Data Finance https://freedomtoons.org/park-cities-asset-management-provides-30m-in-debt-funding-commitments-to-applied-data-finance/ Tue, 11 Oct 2022 11:35:00 +0000 https://freedomtoons.org/park-cities-asset-management-provides-30m-in-debt-funding-commitments-to-applied-data-finance/ DALLAS, October 11, 2022–(BUSINESS WIRE)–Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, today announced that it has provided $30 million in dollars of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers undervalued Americans an affordable and responsible alternative to […]]]>

DALLAS, October 11, 2022–(BUSINESS WIRE)–Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, today announced that it has provided $30 million in dollars of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers undervalued Americans an affordable and responsible alternative to unsecured personal installment loans.

“We are delighted to provide this capital commitment to ADF and support the growth of ADF’s consumer loan portfolio,” said Alex Dunev, Managing Partner at Park Cities. “This investment reflects Park Cities’ confidence in ADF’s ability to serve the underappreciated while providing the opportunity to work with a pioneer in the specialty financial lending industry.”

The financing was in addition to the company’s existing facility, as ADF continues to offer consumer credit using its own balance sheet. ADF will use Park Cities’ capital commitment to continue to scale its successful Personify Financial online lending platform.

“At ADF, we aim to better serve the financial needs of underappreciated Americans across the credit spectrum through our mastery of cutting-edge data science and technology and our commitment to mutual success,” said Krishna Gopinathan, founder and CEO of ADF. “With the flexible financing provided by Park Cities, we look forward to continuing our growth by responsibly connecting consumers to capital.”

About Park Cities Asset Management

Park Cities Asset Management, LLC is an alternative credit manager focused on deploying capital across all asset classes in the specialty finance and FinTech industries. Park Cities and its predecessor have been investing for over a decade and are led by Alex Dunev and Andy Thomas. Park Cities provides investment advice through its SEC-registered investment adviser, Park Cities Advisors, LLC. For more information about Park Cities, please visit www.parkcitiesmgmt.com.

About Applied Data Funding

ADF, an Inc. 5000 company for three consecutive years, is the trusted financial partner of tens of thousands of underappreciated Americans. Combining state-of-the-art technology and a cutting-edge application of data science and machine learning on its Personify Financial platform, ADF is setting a new standard for credit and fraud risk assessment of near-prime and non-prime borrowers. -prime. For more information, visit www.applieddatafinance.com and www.personifyfinancial.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221011005017/en/

contacts

pr@applieddatafinance.com

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