Column: Pricey ‘fintech’ lenders put the squeeze on cash-strapped businesses that are small

Mark Newman needed some fast money final October to help keep their tiny Studio City wine-importing company afloat. He decided to go to their primary bank but had been refused for a financial loan due to his fairly low product product sales. Therefore Newman, 61, switched alternatively to an online mortgage lender called OnDeck. After publishing a small number of bank statements, he had been...
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