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Online lenders cripple businesses with quick cash offers
By ABC NEWS (Australia)Published : May 23, 2024 - 18:32
More small business owners are falling prey to online 'predatory' lenders offering them quick cash. Struggling with mounting tax office debt and slowing income the business owners sign up to contracts for fast credit that land them in hundreds of thousands of dollars of more debt. Some of these loans come with interest charges as high as 300 per cent.