Bloomberg Law
Feb. 17, 2023, 2:52 PM

Affirm Says Retailers Are Letting It Charge More for Loans

Jenny Surane
Jenny Surane
Bloomberg News

Affirm Inc. has persuaded many of its major retail partners — from Shopify Inc. to Dick’s Sporting Goods Inc. — to let it increase interest rates on the loans it provides their customers.

In conversations with merchants across the US, Affirm is adjusting its original contracts that left it flat-footed as benchmark rates surged in the fight against inflation. While Affirm’s loans haven’t kept pace, that’s starting to change, according to Chief Executive Officer Max Levchin.

Affirm CEO Max Levchin
Photographer: Tony Avelar/Bloomberg

“We are trying to run a profitable company — that’s a conversation that every merchant understands very well,” Levchin said in an ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.