Back in the day I thought what Western Sky advertises was called loan sharking. You know the Italian guy you’d meet at the dark corner bar like a Soprano’s episode. How does Western Sky get away with blatantly advertising their loan sharking business? Just something I’m curious about. They flat out say, if you need money now, we are not cheap, but we’ll get it to you. Now say that in an Italian accent like you are from one of those families of NY or NJ.
Doing a little Googling shows that the Western Sky Rates are pretty much in tune to victimizing the person needing $1500 more than anything else. I guess it’s no different than what I use to hear back in the day of when I was in the Navy of $20 for $40, $50 for $75, etc… I guess the full trick in this game is to write it down as such. If you read the above rates sheet, you can see how easily this becomes a legalized loan sharking business.
For the startups out there, I wouldn’t recommend them for your VC/Angel funding round needs, but sometimes some money is better than no money at all. Just be sure you can pay it back, as like the Italians, instead of some broken bones, you might find a few arrows slung your way.
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