Original sentence: Bloomberg News described the company's business model as making sales calls to "truckers, contractors and florists across the country pitching loans with annual interest rates as high as 125 percent", with subsequent failure to pay leading to seizure of a company's "vehicles and assets, sometimes sending them into bankruptcy".Doug Naidus, the founder, Chairman, and CEO, is a former Deutsche Bank Managing Director and Global Head of Residential Lending and Trade.It is a bank service provider and a private direct lender specializing in short-term loans to small and medium-sized businesses.Small and Medium Enterprise (“SME”) companies that agree to a daily or weekly repayment program.World Business Lenders originates and services short-term business loans, secured by real property, targeting U.World Business Lenders was founded in 2011
Edited sentence: It counts former Congressman Edolphus Towns and former New York City Deputy Mayor Ninfa Segarra as members of its Board of Managers.It is a bank service provider and a private direct lender that provides working capital to small and medium-sized businesses.Its portfolio consists of three segments: performing, sub-performing and non-performing assets.Naidus currently serves as Chairman and CEO.Small and Medium Enterprise (“SME”) market and serve the specific needs of SMEs utilizing a daily or weekly repayment program.WBL is unique in the industry in that it requires each loan to be secured by real property pledged by the borrower/merchant or a guarantor.WBL’s short-term, real estate collateralized financing programs are designed to address the underserved U.World Business Lenders originates and services business loans secured by real property.World Business Lenders was founded in 2011 by Doug Naidus, a former Deutsche Bank Managing Director and Global Head of Residential Lending and Trade