What are Loan Sharks? (Beware!)

In this video, we explain all about Loan sharks, what they are, why people and companies opt for them, their process, advantages, and disadvantages.

What is a Loan Shark?
Loan sharks are professionals or private entities who offer loans illegally at extremely absurd interest rates and usually resort to threats and violence to collect debts.

Why do People and Companies Opt for Loan Sharks?
Access to loans even if one has a poor credit history.
Easy and Hassle-Free process.
Can get access to bigger loans which banks generally don’t provide.

What is the Loan Shark Process?
Individuals and companies can get access to quick loans without any background checks or paperwork from the lender side.

How does one meet Loan Sharks?
Loan sharks might be people around you, whom you may or may not know.
You can meet them through your:
Private Circles
Professional Circles
Through the internet.

We also discuss some of the advantages and disadvantages of loan sharks, how you can spot loan sharks in your loan offer, and conclude by offering advice on whether you should or not opt for loan sharks.

For more details, refer to our article at https://www.wallstreetmojo.com/loan-s...
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