Short Term Pinch (STP)

[SamLBInj]

NECA Just looked at there 10K, These Company's make loans to Businesses who need Fast Short Term loans and they come with Very High Interest.
If you wanted to Borrow $30,000. for 6 Months, You will need to Pay off $38,000 which they take from your Bank account at approx $250.00 a Day.
Looking at their 10K they are losing money which makes no sense to me as I know the Nature of their of there Business very well. Something is not right, Just be careful.

Even Kabbage does this. For a $20,000. Loan it will cost you $25,000. and you have to pay $5,000 a month for the first 2 months at high interest, then the interest drops to just 1.5% for the Remaining Payments until you pay off the final $15,000.
This is the cost for Fast Money as Banks take too long.