I just received an email fax ad from “Union Capital” that says my “business” is “pre-eligible” to receive a business loan of “up to $250,000” with payments that “start at” 7.95%. “No credit committees, no personal guarantees, no collateral, offering weekly payments, not daily payments.”
You get your money in 24 to 72 hours and “low personal credit scores are okay.” (That last is underlined).
Of course, they do set strict conditions, the only one I found is that you have to be in business for all of three months.
Wow. Starting at 8% probably means most people pay 20%. And they don’t specify if that 8% is annually or monthly? (The payments are weekly). And if you don’t pay I wonder if mafia enforcers come after you?
Please don’t take a loan like this!
Saul
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Hi Saul,
I know of a much better deal than that! You can get your money any time, day or night, immediately - no waiting at all!. And a marginal credit rating (or none at at all) is not a barrier to securing this type of loan. Forget about daily or weekly payments, you can go a whole month without forking over a payment. And you can take as long as you want to repay with only a minimum progress payment - in fact you are encouraged to stretch out those payments. Of coarse, interest rates start at around 13% and go as high as 23%+, and they won’t loan $250 grand to most folks, but hey no mafia enforcers for sure. Just predatory debt collectors, all strictly legal.
These type loans are issued daily by Visa and MasterCard.
Please don’t take out a loan like this!
DT
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