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I have said it before and I will say it again – Just Say No to Payday Loans.

It is one of the biggest problems for entrepreneurs, especially, who are trying to turn their weekly and monthly salaries into the capital to start a business of their own, but make no mistake about it…

If you are getting a payday loan to start your business, you have already failed as a business owner.

Even worse, 1-hour and No-Faxing payday loans require even stricter terms of payback and higher interest rates. These organizations amount to little more than legitimate loan sharks.

So what options are available to you as an entrepreneur?

  • Family
  • Friends
  • Your Bank
  • Home Equity
  • Second / Third Jobs
  • Side jobs
  • Overtime
  • Get rid of one of the family cars
  • Downgrade your car
  • Ebay your luxuries

Any and all of these would be better solutions than trying to get a no faxing 1 hour payday loan. Period.

This Financial Services article was written by Russ Jones on 9/25/2008

Russ Jones is a financial services expert.