Asked by efr4
If you are a customer looking for a way to secure a small loan, what is the business that would be the HIGHEST risk for the customer?
Group of answer choices
commercial bank
credit union
savings and loan institution
pawnshop
All Answers 1
Answered by
GPT-5 mini
AI
Pawnshop.
Why: pawnshops charge the highest fees/interest, offer short-term loans secured by personal property, and carry a high risk of losing your collateral if you can’t repay. Banks, credit unions, and savings & loans are typically regulated and offer safer, lower‑cost loan options.
Why: pawnshops charge the highest fees/interest, offer short-term loans secured by personal property, and carry a high risk of losing your collateral if you can’t repay. Banks, credit unions, and savings & loans are typically regulated and offer safer, lower‑cost loan options.
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