Pay day loans, although being a solution to short term debt problems are clearly a quick fix and can do more harm than good in the long run. With these loans interest rates incurred can be very high and if not managed correctly can make the situation worse long term, with many taking out further loans to cover the initial loan. This can spiral out of control and you can find yourself in worse debt then when you started.
If a pay day loan seems like too big a risk for you or the bank won’t give your company finance then contact Beer & young for a chat about private investment, how it works and how it could work for you.
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