Originally Posted by
myles
Harmoney are currently running at a loss...
Ignoring the changes over the last three years - if each of the 30,000 loans contributed $500 to Harmoney, that's $15,000,000, which is only $5,000,000 per year (ignoring startup costs). I can only guess that they would have in excess of 30 employees, plus the cost of building/work space/equipment, plus the cost of the platform development, maintenance etc (which would not be cheap), plus marketing (those TV ads etc. do not come cheap) etc, etc, etc...
If they didn't charge $500 per loan, they would have to charge more in fees (and yes I realise fees weren't included in the above) - guess who pays the fees???
It's clear that some here have absolutely no clue what costs are likely involved in the operation of Harmoney - me included, but with my background I have a bit more of a clue than most :p