The company is apparently local and they’re called ‘Easy Financial’. The young woman on the phone was very pleasant and answered all my questions about the type of loans they offer and qualifications, etc. Apparently the company is supposed to be helping people who feel they aren’t able to get a loan anywhere else. She said the loans can be for any sort of purpose, like paying bills, buying a car or leisure activities. My final question was about the interest rate and this very bubbly woman responded with 48% annually which works out to only 3 point something percent per month! Clearly this is a monthly compounding loan that will likely never be paid off despite the assurance by the sales woman that a client could pay off their loan at anytime.
It was at this point that I told her to stop selling people into slavery. That if her company was trying to help people they needed to show them how they could access money in order to create wealth, not to consume it. For heaven’s sake, this local company is preying on people who are struggling to make ends meet and they’re selling them on ‘freedom’ which is really slavery. I told the woman to take a serious look at what she was doing and that she was obviously intelligent and personable, that if she wanted to help people she should consider a respectful financial career. UGH – so upsetting to see young people ‘sucked in’ like that! The sales lady was so nice, I pray blessings into her life and that somehow she will come to know that she can earn a living for herself while also bringing blessing to others.