Fast Cash for Your Emergencies: Payday Loans
10 Reasons Consumers Living Paycheck to Paycheck Need Access to small Dollar Loans To cover unexpected expenses, such as car repairs or medical bills, that cannot wait until the next paycheck. To avoid late fees or overdraft charges on bills that cannot be paid on time due to a lack of funds. To prevent the […]
Profits: 2023 Demand for Car Title, Installment & PDLs
A new CFPB study revealed, “Between our 2021 and 2022 surveys, use of payday loans, installment loans, and car title loans increased dramatically nationwide! Demand for car title loans, in particular, rose nearly 3%.” The financial stability of Black and Hispanic consumers, renters, and under-40s suffered dramatically between 2021 and 2022, said the CFPB. The […]
For Lenders: “What If” Scenarios Excel Powered
TYPICAL WHAT-IF SCENARIOS You buy leads. Should you buy $2.00 leads? $10 leads? $50 leads? $100 leads? $185 leads? [The average CAC [Customer Acquisition Cost in our industry is $185.00] What’s the impact on your loan portfolio if you convert 8% of $50 leads vs 3% of $10 leads? What if you increased your “reacts” […]
Extreme Consumer Loan Business Profits?
Cash advance and payday loan businesses can offer superior returns for an entrepreneur focused on lending money to the masses. Sure! We charge what are perceived to be high-interest rates because our customer acquisition costs and our default rates can be SCARY. What to do? You simply build these metrics into your business plan. You […]
Trends: Lending to the Masses Opportunity
Trend: Consolidation/Acquisition/Rollup Efficiency Opportunities Lenders must grow their loan portfolio Inflation is reducing discretionary income for our demographic Loan DEMAND is up and will scale into 2023+ Loan ORIGINATION volumes are suffering. Loan APPROVAL rates are decreasing. Loan applicant “QUALITY” is deteriorating. Near prime devolving to subprime and “reacts” are the primary source for loan originations 2023 […]
Lenders: 20 Very Cool Loan Ads to Riff Off
You’ve got to check out these new commercials by Chuck Brennan’s Dollar Loan Center! Chuck Brennan is a GOAT* in our “Business of Lending to the Masses!” From humble beginnings, Chuck launched his first 100+ consumer loan locations in 1998. Chuck has provided leadership & phenomenal inspiration to lenders, marketers, kids rock-n-roll… He even built […]
Inflation Fighter $150 Discount
How to Start a Car Title Loan Business
Introduction Starting a car title loan business can be a great way to make money and be of service. By ensuring you have everything in place and are prepared for the challenges of owning such a small business, you’ll be able to get off on the right foot and make sure your new venture succeeds! […]
Payday Loan License for Illinois
Illinois Payday Lender License Application CheckList Application Form A copy of all organization documents is required to be filed with the Illinois Secretary of State and a copy of the filing of assumed business name with the appropriate County Clerk’s office if a sole proprietorship. “Supplemental Application” as provided in the application packet and credit […]