Originally Posted by Barefootsies

Premise:
You get a request for $20,000.00 short term loan. They want to buy a car wash, $100,000.00, and need the 20% down payment.

They claim they could pull it off their credit card, but then take a hit on their credit score. Which raises their interest rate before closing. So doing it this way, would allow them to pick up the property without doing it.

Once the property gets to closing, they could pull your $20,000.00 off their card(s), + 7%, and pay you back. So you could leave it with them, collecting 7% instead of what the bank interest rate is. Or you can cash out, take your money back, plus 7% fee.