Loan sharks found a loophole that lets them charge small businesses nearly 3,000% interest, and it’s driving people into bankruptcy. We talked to a dozen small business owners. Some report taking out $30,000 loans and having to pay back $160,000. This is a quiet scam killing the middle class, but some states are seeking solutions. There’s a bill moving through the California legislature right now that would require MCAs to have a license to operate in the state and disclose the true interest rates of their products. If you want to show your support for this legislation, sign this letter to protect people from these loan sharks: https://www.borrowersbillofrights.org/protect-small-biz Producer: @maeryan Editor: Gina Barton Supervising Producer: Court Fuller

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