Shark Loan: The financial predator
Jan 20, 2022
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The vicious cycle of shark loans works like a trap.
The poors, who need money to support their lives or to improve business performance, tend to deal with a shark loaner. it is said the process is so simple. But, the interest applied is horrible.
Once, they go to high-interest rate loans, it is hard to get rid of.
Amazingly, the borrowers are normally disciplined to pay installments.
Sometimes, they do refinancing before the loan is paid off. They manage their money. If need be, they sacrifice other things as they prioritize the shark loan.
What about replacing the shark loan with social funds — direct giving, or charity?
