In the tempestuous sea of entrepreneurship, it's not uncommon to find oneself facing financial challenges from time to time. When the inevitable economic storm hits, one might find solace in the shelter provided by emergency business lenders. Despite their enticing allure, however, it is imperative to approach these potential saviors with a measured dose of circumspection. Based on personal experiences and in-depth research, the following list has been compiled with the aim of guiding entrepreneurs through the intricate labyrinth of emergency business lending, highlighting 10 crucial aspects that I wish I had been privy to, prior to engaging one.

• Understanding the Concept of Emergency Business Lenders : Essentially, emergency business lenders are financial institutions that provide expedited loans to businesses in critical need of capital. Typically, these lenders employ unconventional loan approval processes, which are expedited and less stringent when compared to traditional banks.
• The Role of Interest Rates : The urgency and risk involved compel emergency business lenders to charge higher interest rates. The concept of risk premiums – an economic principle suggesting that entities assuming higher risks demand greater compensation – is instrumental in comprehending the rationale behind their rates.
• Speed of Funding : Expediency is the unique selling point of emergency business lenders. The accelerated pace of funding, owed in part to advancements in financial technology (FinTech), is instrumental in bridging the liquidity gap for businesses facing immanent financial turmoil.
• The Relevance of Credit Score : Unlike conventional lenders, emergency business lenders don't weigh credit scores heavily. This is an instance of information asymmetry in finance, where the lender, with less information about the borrower than desirable, compensates with higher interest rates.
• Collateral and Unsecured Loans : Emergency business lenders often provide unsecured loans; loans that do not require collateral. This saves the borrower from potential asset forfeiture, but inflates the interest rates due to the lender's increased exposure to default risk.
• Repayment Plans : The repayment structures are often flexible but can be a double-edged sword. Keynesian economics would suggest that shorter repayment periods lead to higher returns but also run the risk of default due to the increased burden on cash flows.
• Hidden Fees : The fine print often conceals hidden fees. A rudimentary understanding of financial law could help one identify and negotiate such pitfalls in the loan agreement.
• Regulatory Landscape : Since emergency business lenders operate outside the traditional banking system, they are subjected to different regulations. Understanding the current regulatory framework could offer insights into the safety nets available to borrowers.
• Impact on Business Credit : Borrowing from emergency lenders could have an adverse effect on business credit, especially if repayments are not timely. This could have far-reaching implications on future borrowing capabilities.
• Risk of Predatory Lending Practices : There exists the risk of falling prey to predatory lenders. Knowledge of laws such as the Truth in Lending Act and Fair Debt Collection Practices Act can be a powerful tool to safeguard against such practices.

To sum up, emergency business lenders can indeed be a lifeline in tumultuous times, but one must tread this path with prudence and knowledge. It is essential to weigh the pros and cons, and above all, understand the implications, both immediate and long-term. As with any significant business decision, due diligence is key. The goal here is not to dissuade or cajole, but to arm potential borrowers with the necessary knowledge to make informed decisions.