• 5 tips before you take out a short-term small business loan

    NEW YORK (AP) — Getting a short-term small business loan is fast and easy, but they also tend to be much more expensive than traditional loans.

  • In this Monday, Aug. 17, 2015, photo, Shoneji Robison, left, and Catarah Hampshire, owners of Southern Girl Desserts, pose for a photo in their bakery, in Los Angeles. In less than two years, Southern Girl Desserts took out six loans and was in a financial mess that made it difficult to buy ingredients and pay workers. (AP Photo/Nick Ut)

    Fast and easy loans come at price for small businesses

    NEW YORK (AP) — It sounded like a sweet deal: A loan broker walked into Southern Girl Desserts offering the Los Angeles bakery a $40,000 loan that could be deposited in a bank account quickly. Already rejected for a loan from a bank, co-owner Catarah Hampshire took the offer and hired more workers to whip up peach cobblers and sweet potato cupcakes.