Predatory lenders’ small print can be
downright miniscule, if not missing altogether. Unscrupulous lenders wrap their
products in a cloak of promises that are broken as soon as you sign on the
dotted line. That’s when unfair terms and hidden fees kick in, causing many
small businesses fail.
To make sure you avoid this cycle of
debt, work with a lender who’s on board with the Small
Business Borrowers' Bill of Rights. This public commitment to small businesses
puts the rights of borrowers first and offers complete transparency on pricing
and terms. Even better? They communicate in plain, easy-to-read English, so
there’s no need to translate finance jargon and legalese.
Next time you’re in need of cash, avoid
being snared by a too-good-to-be-true ploy, and take time to look for a lender
who has pledged to do business fairly—it could save your business from
financial ruin.
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