NPR is shining a light on the need to protect small businesses from predatory lending, and what it found is deeply concerning.
Many of these financing products are marketed as fast, flexible funding, but can carry triple-digit effective rates and daily repayment structures that put real pressure on small businesses.
Here in Connecticut, we have an opportunity to lead by bringing transparency and fairness to this space, without cutting off access to capital. That means clear disclosures and basic protections so business owners can make informed decisions.
The article is certainly worth reading. Please click on the image below.