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If you are struggling struggling to get approved, it can be hard to secure financing from a conventional bank. Teletrack loans were once a popular choice for those with bad credit, but they are no longer as easily accessible as before as they once were.

Teletrack loans are essentially rapid cash loans that use financial data provider Teletrack, to monitor borrowers' credit behavior. By using this financial assessment tool, 融資 創業 lenders can determine the likelihood of default. The problem with Teletrack loans, however, is that they often come with extremely high interest rates, making them nearly difficult to service.

Given the stringent regulations introduced by the Consumer Financial Protection Bureau in 2013, many lenders are no longer willing to offer Teletrack loans. The CFPB set standards to protect consumers, one of which is the limitation on offering loans with an annual percentage rate of over 36%. This effectively ruled out the Teletrack loans with high interest rates that were previously common.