The Private Credit Crisis Is Spreading

The Private Credit Crisis Is Spreading Submitted by QTR's Fringe Finance The private credit crisis is spreading to another corner of the market that I warned about back in October, when I wrote about 10 parts of the market I’d avoid. For years I’ve been warning that buy now pay later (“BNPL”) industry was built on a pretty fragile foundation. The quality of the loans was always the obvious problem. The entire business model revolves around extending instant credit with minimal underwriting to consumers making small purchases. Companies whose primary innovation is allowing consumers to...