by TommyNoto » Fri Oct 09, 2020 3:22 am
I suspect the mob interest in merchant advance / lending business has grown as it’s the perfect industry for them to exploit
No usury laws, very lightly regulated, easy to hide behind LLCs with the potential for huge profits. A perfect set up for them.
After the credit crisis these small business lenders were popping up w everywhere in the metro area with many being run by Italians
Why risk racketeering when you can do the all this legally with the main risk being civil matters.
All just a guess but I wouldn’t be surprised if every family had their own shop these days
I suspect the mob interest in merchant advance / lending business has grown as it’s the perfect industry for them to exploit
No usury laws, very lightly regulated, easy to hide behind LLCs with the potential for huge profits. A perfect set up for them.
After the credit crisis these small business lenders were popping up w everywhere in the metro area with many being run by Italians
Why risk racketeering when you can do the all this legally with the main risk being civil matters.
All just a guess but I wouldn’t be surprised if every family had their own shop these days