Comments on: Payday Loans Might Help You Start an Online Business?

By: Leandra Schon

Leandra Schon — Sun, 05 Sep 2010 06:37:46 +0000

Greetings! I arrived at your blog through this post and I liked it enough to subscribe to your rss feed. Thanks for such helpful content!

By: Emmanuel

Emmanuel — Sun, 21 Jun 2009 13:31:18 +0000

Useful info, nice blog, thanks.

By: Noobpreneur

Noobpreneur — Mon, 02 Feb 2009 10:40:07 +0000

Agreed – “very careful consideration” should be stressed more, because many people drown deeper into debt and blame payday loan, instead blaming on themselves for not spending time to learn about payday loan before taking one…

By: california hard money

california hard money — Mon, 02 Feb 2009 08:33:22 +0000

These loans are definitely a very bad place to be if you are looking to use it like a bank. For some strange and emergency situations though, they might be useful but it involves very careful consideration.

By: Noobpreneur

Noobpreneur — Thu, 20 Nov 2008 14:00:35 +0000

Hi Mo,

Payday loan software – interesting! I’ll check it out :)

Cheers!

By: Mo Cheng

Mo Cheng — Thu, 20 Nov 2008 10:56:28 +0000

The idea of starting a company based on debt is somewhat of a risky position. I myself work in the payday lending industry, and personally wouldn't take the risk unless it's a sure fire win - and by that I mean you already have a sale or way to get out of the position before you decide to finance. Numbers wise, I agree with noob - its not a far fetched idea to use payday lending as a finance option. Just make sure your interest payments can be taken care of with your new cash flow! Or you can gather up some money and start a payday loan business. Theres plenty of payday loan software out there to help you with your operations, and as a noob entrepreneur, its a easy business to understand! Happy money making!

By: Noobpreneur

Noobpreneur — Wed, 17 Sep 2008 15:23:59 +0000

Jeflin,

You are correct. Therefore I mentioned it in word of caution.

Just like other unsecured loans, take this type of loan if you are fully aware about the possible pitfall.

Cheers!

By: jeflin

jeflin — Wed, 17 Sep 2008 09:17:25 +0000

Using payday loans for businesses is risky unless you know what you are doing.

When the interest rates snowball, it can be extremely difficult to extricate yourself.