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What Really Makes a "High Interest" Loan

Steven Uster | Posted 08.04.2013 | Canada Business
Steven Uster

While the concerns regarding the potential negative impact of certain high interest loans are legitimate, the debate has failed to consider the context in which high interest loans exist. It is too simple to label a loan "high interest" by looking only at the annualized interest rate. There are many other factors that determine the true cost of borrowing.