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Professionals Taking Loans From Strangers Hearten Markets
AP reports a surge in $5,000 five year loans offered by lenders to executives doctors bankers and CPAs with no security. Lenders say borrowers must have solid income above 15000 and a legitimate purpose. Most loans are repaid though two cases warn of risks. Interest runs high with bankers paying 18 percent yearly and total five year costs around 2617.60.
MENTIONED IN THIS ARTICLE
John Cunniff
New York
Universal C. I. T. Credit Co
Edward W. May
C.I.T
May