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Online finance companies are luring cash-strapped borrowers with loans bearing interest ratest that is sky-high

Online finance companies are luring cash-strapped borrowers with loans bearing sky-high rates of interest.

With interest levels sitting at record lows, this does not look like the most readily useful time become hawking high-interest loans. But Kenneth Rees begs to vary. Rees operates Elevate Credit, a fast-growing finance that is online in Fort Worth that’s making use of Big Data to iue short-term loans to cash-strapped customers with fico scores therefore low they can’t get charge cards.

And that’s lot more individuals than you may think.