There’s a commercial for WESTERNSKY running here now. It’s a Native American-owned business which operates within the boundaries of the Cheyenne River Sioux Reservation. They lend money. “It’s not cheap”, they explain. In fact from their website:
They claim they can/will lend you up to $10,000 a day.
I understand the basic concept - lend money, get more back - but my question is who are these people that need $10,000 now (because presumably they are broke) but will have it to pay back? If you are not a good enough risk for a regular bank loan, surely you are going to have trouble paying back what appears to be a street loan. And what will they do if you don’t pay… other than having it “adversely affect borrower’s creditworthiness” which I’m assuming is already in jeopardy.