Bernardsamuel, I hope you don't mind me taking some shots at your math here and feel free to correct me or argue the point.
If we were to look at this loan as a bank would, the amount borrowed is stated as $125k and the total repayment is $153k. The interest earned would be $28,750. Therefore the interest rate for the 6 month loan would be 23%. If you want to double that to get your APY it would be 46%. However, to my knowledge banks do not do this, they would simply leave it as 23% for the term of the loan.
Just as an example, If I had a 30yr mortgage for $50k and I were to refi my mortgage for a 30yr 100k with cash out option, in doing so I would be forced to pay off the original mortgage and would only get the $50k left over. My rate would still be based off the 100k for 30yr not the $50k. If in 30 years I paid $100k in interest, I would not go back and calculate my rate based off paying that much interest on a $50k loan because it is a $100k loan.
I would also add that for a publicly traded, FDIC insured bank I believe this to be a normal rate for these kinds of business loans. The fact that VHUB was even able to get this type of loan with an actual bank even with the cosigners does shed a very small amount of positive light.
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