community banks

When Banks are Left to Their Own Devices?consumers Get the Hosed

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Desperate for money, Jack contacts a money guy referred by his cousin Jerry for a temporary loan. The “VIG” is 25% per week. This is excessive and is an example of loan sharking. This is a criminal act. The terms are clear and it’s all spelled out with verbal communication. Pay as agreed or else. … Read more

Merchant Loans are Still Great Alternatives to Bank Loans

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Despite numerous federal efforts to make bank loans available to small business owners, bank lending is still extremely low and merchant loans are still serving as an excellent alternative.  In the last five months, the 22 biggest Tarp recipients have cut their outstanding lending balances by billion, according to Catherine Clifford of CNN Money.  These … Read more