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Potential Drawbacks While small loans may be useful, it is essential to suppose about their potential drawbacks. One of the main considerations is the upper interest rates associated with these loans compared to traditional bank loans. Borrowers must learn the fine print and understand the phrases to avoid falling right into a cycle of d
The rates of interest for small loans range broadly depending on the lender and the borrower's creditworthiness. Generally, charges can vary from 5% to over 35%. It's crucial for borrowers to match offers and guarantee they perceive the terms before committ
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