Fintech Lenders “Don’t Need No Stinking Badges” Quo: Lender to the Masses
How to Loan Money to Strangers Man, there are some serious new approaches to “The Business of Lending to the Masses” entering the marketplace. I’ve previously broken down OneMain.com, Dave.com, and Earnin.com… and more on our Blog. Today, I point you to Quo. Now if you’re “old school,” like I was back in the day, […]
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 […]
Consumers Feel The Pain: Nationwide 36% APR Cap Theme Continues: Illinois and Nebraska Go Dark.
Consumers Feel The Pain: Nationwide 36% APR Cap Theme Continues: Illinois and Nebraska Go Dark. By: Jer Ayles Fellow small-dollar lenders, vendors, and MOST importantly the 50%+ of U.S. households who do not have access to $500 when the car breaks down, the utility bill is due, the kitchen is bare, the… well, you know […]
Consumer Loan Executive “Savant” Available to a Few Select Clients
Do you need an executive with 15+ years of experience in “the business of lending to the masses?” And no, I’m not referring to me! I’m too busy + this would destroy my lifestyle! Here’s the deal: A “Savant” in our industry is accepting a few new clients. Short & sweet! Do you want an […]
$2000 Turn-Key “Small-Dollar Loan Business in a Box” for Lenders & a Loan Strategy a la Chime Bank
A colossal quantity of intestinal fortitude and enormous liquidity is required for a balance sheet lender to fund small-dollar loans in this environment! Frankly, if you have been following my counsel, invested in our “How to Lend Money to the Masses Profitably Course,” scheduled and/or completed a consultation with me, you are already hunkered down, […]
How to Start-Improve a Consumer Loan Company? Installment, Payday, Car Title
The demand is huge! Billions lent every month at sky-high interest rates. The profits are there to be had. No single incumbent has more than 6% of the market today. And yet Enova and Curo just reported they each lent out nearly $400,000,000 to consumers in the last 3 months at 200%+ interest rates!