Wells Fargo Plays Both Sides of the Cash Advance Debate

Photograph by Elaine Thompson/AP Photo

Give Wells Fargo credit for supporting an innovative business loan developed by a California nonprofit microlender. The bank is among the sponsors of a $100,000 award being announced today by Opportunity Finance Network to help promote the product, called EasyPay, as an alternative to high-cost merchant cash advances. Never mind that Wells Fargo finances the merchant cash advance companies, too.

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