Peter: Right, right, okay, that produces feeling. therefore letвЂ™s dig into exactly what youвЂ™re actually providing. Is it possible to tell us regarding your loan services and products, the attention price, loan size, loan term, that type of thing?
Jared: Yeah, so weвЂ™re in about 40 states today, approximately half of those states weвЂ™re directly lending as well as in another 50 % of those states, our company is an outsourced supplier up to a Utah bank while the services and products vary somewhat along those lines, but an over-all rule is weвЂ™re offering in regards to a $1,500 loan, it is about one year very very long and also the APRвЂ™s are simply over 100%.
Peter: Okay, then when you’ve got a bank partner, whatвЂ™s the difference amongst the two programs then, after all, in addition to the reality youвЂ™ve got a bank partner thatвЂ™s originating the mortgage, we presume, but will they be actually two split items or perhaps perhaps perhaps not? Jared: Yeah, these are generally actually two separate items. The financial institution partnership arrived, we have been approachedвЂ¦I think the lender saw that there clearly was this quite interesting possibility in many geographies in the united states where in fact the customersвЂ™ only choice ended up being a greater cost, reduced duration loan and additionally they had an appetite to go and originate in those states and also to offer an item that has been long term, reduced expense and much longer timeframe.