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Lack of Demand for the Product in the Market

The demand for woven cloth or material will not be same throughout the year. It fluctuates depending on inflation and recession. Therefore, when there is no demand or poor demand for the product, the owner has to reduce the production. This will again lead low income and there will be an indirect effect on retention of the employees.

No Supply of Raw Material

Sometimes it so happens that there will be problem in the supply of raw material in the market. The required materials will not be available from the source. Recent example, the flow the raw silk from China had a negative impact on the silk of India. Nevertheless, the major effect will be to the uses of the silk.

Absenteeism & Poor Efficiency of the Worker

Since already mentioned, there are not work rules or regulations fixed for the employees of weaving industry, the employees take any number of leave they want. They do not even feel like informing the owner many a times. Few situations it’s so happened that, the employee would have already joined elsewhere and the old factory owner will be in the assumption that he is on long leave. Efficiency of the worker depends on his mood.

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Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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