Tom Burnside

We actually use an interest rate.

And if we were charging 23%, it's 23% a year based on the outstanding balance, which averages out to about 20, you know, 23 to 30% over the life of three years.

No.

You would want to think about it as an interest rate.

It's a 23% interest rate, right?

So it's not really a discount.

It's just a simple interest rate, like you'd pay for a car or a house or anything else that you'd do.

If you take some of these discount rates, they could be upwards over 100% interest.

And so we think that we're giving the best deals in the marketplace, hands down.

Well, look, I mean, some of this was based on track record.

So we were able to get better pricing on the facilities that we borrowed from for ourselves to be able to make that money available to our customer.

So we were able to get some pretty good rates back in the day.

Those rates have come down a lot over the last few years.

What was good back in the day, we started off at around a 10% cost of funds on our own.

There was a few warrants in there.

I think we gave up 1% in the first year to get some of the good deals.

That's not bad.

Not too bad.

Not too bad.

We didn't feel too bad about it.