I think the way Spare works is this: When you need some cash, you contact Spare via cell phone app and tell them you want, say, $100. Spare tells you which location is nearest to you (participating retailers, like the local liquor store, convenience store, coffee shop, etc.). You go to that location, the person at the register confirms with Spare that you are approved for $100, and they give you the $100 from the register. Spare then later reimburses the store the $100 plus their share of the fee (1/3 of total, or $1). Spare is the clearing house between customer and retailer (who also hopes to get some of that $100 back from purchases you make in their store "as long as you're there").
I liked the ice cream sandwich company and the owners, and I think Barbara is the perfect partner for them. I did notice, though, that the sisters went into the tank estimating their company to be worth $4 million ($400,000 for 10% of the company). Barbara offered them $200,000 cash plus a $200,000 line of credit for 20%, (valuation of $800,000). That's a big difference! Barbara's valuation was exactly what Kevin estimated it was, too, just prior to his going out.
It seems like Lori's been reluctant to invest recently. Her reason's often sound dubious, too ("It's a little early for me", "I'm not passionate about the product","I can't figure out how to sell this on QVC", etc.). Maybe she's too busy counting her money! I don't remember how much of Bantam's Bagels she owned, but selling the company for $34 million certainly feathered her nest pretty well!