Are Predatory Loans the second Credit Crisis?

Are Predatory Loans the second Credit Crisis?

The growing number of institutions that offer quick cash to small businesses are still largely unregulated unlike mortgage and payday lenders. Chicago could be the trying that is first change that.

Los Angeles restaurateur Jorge Rodriguez Assereto does not require much rest. He gets about five hours per evening and also the sleep of their time is dedicated to running Los Balcones, an effective Peruvian restaurant he launched in Hollywood in 2004 and recently shepherded via an expansion. The remodel had been an investment that is major. Assereto invested a lot more than $130,000 over 2 yrs simply leasing the vacant area next to him while he attempted to find funding for their expansion. He also switched banking institutions so that they can get that loan. It didn’t work.

He hired a local design firm to turn the interior into a hip and rustic open space when he finally got the money. Continue reading “Are Predatory Loans the second Credit Crisis?”