Discover Your State’s PDL Laws! 🌟
Legal Status of Payday Loans by State State Information Click on your state to learn if payday loans are legal or prohibited and the state law that applies. Â Dear Readers, We’re excited to share a valuable resource for anyone interested in understanding the intricacies of state-by-state payday and installment loan laws, rules, and licensing […]
Texas Credit Access Business [CAB] License
 THIS IS AN OFFICIAL EMAIL FROM THE OFFICE OF CONSUMER CREDIT COMMISSIONER DELINQUENCY NOTICETexas Credit Access Business As of the date of this notice, we have not received the fees to renew one or more of your Credit Access Business Licenses. All licenses will cancel non-renewable if fees are not received by December 31, […]
2024-Navigating the Texas Credit Access Business CAB & CSO: A Comprehensive Guide for CABs, CSOs, 3rd-Party Lenders, Regulators & Consumers
The personal lending landscape can be complex, filled with various regulations and guidelines that lenders must navigate. Texas, known for its robust economic environment, is no exception. One option available to lenders in Texas is to operate under the Credit Access Business (CAB) / Credit Services Organization (CSO) model with a 3rd-party lender. This blog […]
Supreme Court Rocks the Boat: Native American Tribe Lenders Subject to Bankruptcy Laws
In the case of Lac du Flambeau Band of Lake Superior Chippewa Indians v. Coughlin, the Supreme Court ruled that Native American tribes are subject to bankruptcy laws like any other creditors. Lac du Flambeau Band owns an online payday lending operation and argued that their sovereign immunity excluded them from an automatic stay of […]
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 […]
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 […]
How-to: Installment Loans for the Subprime Demographic
Many of the national Lenders have been transitioning to a multitude of financial loan products in an effort to continue to serve subprime borrowers while still achieving superior ROI. Witness Avant, CURO… You only need to refer to Avant’s latest Q4 earnings call to comprehend the extent of this transition away from single-payment products. Avant’s progeny is CASHNETUSA.com back in the late 90’s. At the time they offered singularly payday loans having 400% – 700% APR payday loans. As per their Q4 earnings call. these single payment [payday loan] products made up a mere 2% of loan originations. Obviously, they see the writing on the wall.
Meet me in san Antonio: The Business of Lending to the Masses
Just a heads up! I’m in San Antonio, Texas this week. Want to meet up, let me know. I’m here 5 days for meetings with international money groups entering the USA installment loan industry. Text 702-208-6736 Jer Jer “The Business of Lending to the Masses.” Hi Jer As always, thanks for being a loyal email […]
Texas Payday Loans, Title Loans, Personal Loans: CAB-Corona-OCCC Texas Advisory
The “business of lending to the masses” is scaling rapidly all over the country.
This is for our Texas lenders. It was issued 20 minutes ago.
It’s likely to serve as a template for the majority of States so I suggest you take a look.
Meanwhile, prepare to SCALE if you’re so inclined!