- With the year coming to an end, it goes…more
- As a small business owner, there may come a…more
- Despite the fact that “doing business” with a loan…more
- I’ll never be approved for a traditional bank loan.…more
We understand that you may feel that you have no alternatives other than using a loan shark to get money you need. This is why we created LoanSharks.com. There are alternatives to dealing with a lender that you will more than likely regret. Be sure to read our blogs for helpful information in your situation.
Why you should avoid loan sharks
- High rate of interest. Let’s face it: this is where loan sharks come out on top. They are able to charge borrowers a high rate of interest, much higher than the industry average, because they are not regulated.
- No way of knowing what the future holds. With a traditional lender, you know the finer details of your loan.
- Potentially dangerous. If you default on a bank loan, for example, you could find yourself in financial trouble. This could mean losing a particular asset. With a loan shark, your situation is much more serious.