The Cost of Money | Straight Talk with Lou Mosca

Hey Lou Mosca chief operating officer
of American Management Services and what I wanted to talk to you about today is
the cost of money. So a client signed up with us about a week ago to get some
help and one of the issues that they’re facing is that about six months ago they
took out one of these payday loans for a couple hundred thousand dollars and
every day the creditor is banging them with taking money out of their account
3000 4000 5000 dollars every day. Every day you know if you
have to revert to getting one of these payday loans, these quasi Shylock kind of
money things you’re better off going out of business because you’re never gonna work
your way out of it. don’t do it if you want to talk about it give me a call but
if you can’t get a conventional loan or if you can’t find the funding that you
need don’t go to one of these sources that are going to kill you with 30 40
percent interest and they’re gonna hit your account every day. It feels good
today they put the money in from the minute after that you’re dead meat
you’re just dead meat don’t take that kind of money, have a great day

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