Beware easy internet lending

Like a lot of things on the internet, you need to be very cautious about what might be called “easy internet lending.” These are finance companies that will lend to small businesses in a hurry, usually based on just your bank statement or credit card revenue instead of a full business plan and loan application package. It can be very tempting to a desperate borrower who is in a cash crunch.  But watch out. The pricing is deceiving and the cost of these kinds of loans can be in the high double digits. You can end up spending all your profits to pay back the debt. To get educated on this danger head over to CEDF.com/watchout for more details.