Hacker News Reader

What a fucking amazing company. The biggest challenge in making a loan is getting repaid. When you control the vehicle by which your debtor gets paid by their customers, you can easily and frictionlessly take your repayment without having to make calls and send increasingly agitated letters. Genius

View on HN

Many companies in the payments and small business space already do this. It's not new. Square, PayPal, etc.

Not legally, they would still need to have a legal order for garnishment, I assume.

Garnishment is against accounts held by a third party. If the right to withhold or draw from already-authorized sources is part of their contract on either the payments or lending side (and I can't imagine it wouldn't be), no garnishment should be needed as they're in direct contractual privity.

Reply on news.ycombinator.com