Launch HN: Pier (YC W23) – Stripe for Credit

Re:Launch HN: Pier (YC W23) – Stripe for Credit by jess-zhang on Wednesday October 18, 2023 @01:15PM (#37931674)

we handle anything from $0 to $50k+. our API bakes in all the nitty gritty of diff APRs, amounts, fees, interest calc methods based on state & fed regulations. For example, KS has cumulative APR calc method with 36% for <=$860, 21% for >$860, while TX is 30% for <$500, 25% for $500-1000, 18% for over $1k.

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Re:Launch HN: Pier (YC W23) – Stripe for Credit by jacobr1 on Wednesday October 18, 2023 @02:41PM (#37932880)

How does that work from an API perspective? Do I just "try" to create a loan and if not compliant with the location it returns back some kind of error. Or do I request some kind of margin value and you calculate how to get that in a given jurisdiction. Or some other flow?

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Re:Launch HN: Pier (YC W23) – Stripe for Credit by ahegevall on Wednesday October 18, 2023 @02:53PM (#37933023)

Thanks for the great questions!

Our credit application API will return an error if you try to approve a set of offer terms for a user that violates their state's limits.

We also have a couple utility endpoints that help with coverage and compliance checks: 1) a coverage endpoint that returns the basic limits for each state and 2) an endpoint that allows you to verify if a set of offer terms are compliant for a given state.

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