Having tapped the individual market, predatory lenders are now targeting small businesses. Since small business owners are particularly vulnerable to predatory lending since the owner often has a difficult time accessing capital and may only need a small loan that is not of interest to banks.
Minnesota has some of the weakest predatory lending regulations in the nation. A bill was introduced last session that easily passed in the House but a powerful lobbyist blocked passage in the Senate.
Contact your House representative and your Senator and ask that they pass the previous predatory lender bill.