Online finance companies are luring cash-strapped borrowers with loans bearing sky-high interest levels.
With rates of interest sitting at record lows, this does not appear to be the most useful time become hawking high-interest loans. But Kenneth Rees begs to differ. Rees operates Elevate Credit, a fast-growing online finance business in Fort Worth that’s using Big Data to iue short-term loans to cash-strapped customers with credit ratings therefore low they can’t get charge cards.
And that’s a complete lot more folks than you may think. […]