NewsLocalDesperate businessmen in the hands of loan sharks

Desperate businessmen in the hands of loan sharks

Speaking to Phileleftheros, Kyriakos Ambizas, spokesman of POVEK trade union of small and medium businesses, said that in their effort to save their businesses a number of businessmen got involved with loan sharks.

As he said following the tragic financial situation of some businessmen due to the pandemic, he got money from loan sharks but at some point they were unable to pay back the installments and the high interest rate and now they are facing blakcmails.

Some of them are beaten up or they are forced their properties to pay them off.

Ambizas said the government refrains from dialogue with POVEK.

He noted that in Larnaca and Famagusta, shop owners have difficulty in renewing their stock and have no funds, so it is difficult to keep their shops open.

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