One of the main results of the banking crisis that brought the Great Recession was a new law created to protect the consumer through the Consumer Financial Protection Bureau. Unfortunately, this has only moved the focus for predatory lenders to small businesses.
Desperately seeking a cash cure, these owners are now at risk of borrowing money for their companies and not fully understanding the terms of their loans. The subprime lending industry has exploded to $3 billion. These loans are still unregulated and are not protected by the same laws that cover individual borrowers.
A Word of Caution if You're Desperately Seeking a Cash Cure
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.