top of page
  • Writer's pictureAmi Kassar

AmiSight 8/4: Sorry Folks, Business Funding is Not Intended to Be Quick

I saw this ad on my Instagram feed yesterday, which infuriated me. The suggestion is that you might go to your grave waiting for a business loan from the bank, so you should call these cast of characters instead.

The lender doesn't tell you in the ad that while they might fund you in 24 hours, it will likely be at a rate and terms that will send you to the grave.

If anyone feels they are in a desperate pinch for money, I urge you not to take a high-interest loan that you need to pay back quickly. It will likely put you on a high-speed, high-debt treadmill that will be hard to get off.

Slow down, and try to find another way !!!

329 views1 comment

1 Comment

Rebecca Schultz
Rebecca Schultz
Aug 04, 2022

Such a true piece of advice, Ami! I can tell story after story of how predatory lenders "helped" business owners at a time of need and ended up actively forcing the business to shut down. Predatory lenders that charge high rates and fees are not your "friends". They work for investors that expect a high return. If something happens and you cannot keep up with the high payments coming right out of your bank account (which you cannot stop), they have no problems freezing bank assets to collect their funds. If that means you cannot make payroll, that's fine with them. In fact, they would prefer to time their account freeze ahead of payroll, so they collect more. I have…

bottom of page