Introducing “Subprime Business Lending” – Loans with 125% Interest Rates Are Being Securitized and Sold to Investors

[BlackListedNews]

World Business Lenders charged most people 125 percent annualized interest rates on six-month loans regardless of their situation, five former employees said. The borrowers often put up cars, houses or even livestock worth at least twice as much as the loan. About one in five were going bust as of last year, two people with knowledge of the matter said. One said that 9 percent of the loans made this year have already defaulted

http://feedproxy.google.com/~r/blacklistednews/hKxa/~3/E9bMiZEI6_Q/M.html