JB
Predatory loan?
I applied for a loan hoping to be able to get some website built and get some seo done. I do not have the best credit (about 625) so I knew rate would be higher. I was approved for a little over $5,000. When I saw what my daily payment would be, I calculated the monthly payment to be about $987 a month, which translates to an interest rate of about 180%. I immediately contacted the company before signing anything and let them know they need not contact me any further. I get that a company needs to make money, but in my opinion, the loan offer was predatory in nature and definitely not in my best interest. Find other alternatives if you can.
Response from BriteCap FinancialFeb 7, 2024
Hi JB, At BriteCap our mission is to help America’s small businesses and strive to provide excellent customer experience. We appreciate you taking the time to provide feedback. With respect to your concern, we offer fixed-cost business loans and apologize for your dissatisfaction with your offer. We pride ourselves on our transparency and providing competitive pricing in our industry. We wish you and your business the best in your future endeavors.