The bad first:Everything Zip borrows to fund loans to consumers it has to pay interest on and, for the six months to December 31 2019, the weighted average interest rate on its borrowings printed at 4.3 per cent. Receivables stood at about $1.2 billion in April.
"All our receivables are funded off balance sheet in warehouse or securitisation vehicles. We see some significant cost reductions available to us in the short to medium term, particularly when you comp us against providers who've been in the market for longer," says Gray.
The good: All good, I hope. IMO.
$10 Party, page-857
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