All BTC loans at the current time are GARBAGE no reason for such interest rates on an over collateralized loan. Only when banks get involved (soon) will companies like RIver, Strike, etc. will treat these loans the way they should be treated.
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we had trouble negotiating rates down with lenders pre launch, now that the product is out and loan book is growing it is becoming easier
expect rates to drop significantly in the next month and then we will keep pushing them down after that
there is no origination or prepayment fee, so anyone who has an existing loan can take advantage of lower rates as they drop