Considering borrowing for your business? Beware the wolf in sheep’s clothing.

Not all lending sources are legitimate (or safe)!

I received an unsolicited email with this subject line two days ago:

“Does your business require FAST capital due to the COVID 19 virus epedimic?”

Among other things, the email said: “Call me today to discuss the next steps towards relieving capital obstacles. I handle all A, B, C, and D credit situations.”

First of all, the careless typo “epedimic” doesn’t do much to convey confidence. Also, the content of the email brought to mind an image of a lender with a disfigured nose, in a beige raincoat, black and white brogues, and carrying a violin case. You get the picture . . .

PLEASE take advice from an accountant or reliable financial advisor before being panicked into borrowing to help your business survive at this time. And if you do decide to borrow, beware the wolf in sheep’s clothing.