Why the Goeasy Ltd Model is the Future of Non-Prime Lending!
Goeasy Ltd. Reports Results for the Fourth Quarter and Full Year& Announces Increase to Automotive Securitization Facility Quarterly Loan Originations of $705 million, up 12% from $632 million Loan Portfolio of $3.65 billion, up 30% from $2.79 billion Quarterly Net Charge Off Rate of 8.8%, down 20 bps from 9.0% Quarterly Diluted EPS of $4.34, […]
How Lending to Strangers Can Become Your Most Profitable Venture Yet!
Lending Money to Strangers Grab Our Course Customer Referral Programs Here’s an expansion on the idea of “Smart Referral Programs” for lenders, specifically focusing on providing excellent customer service and enhancing client engagement through various strategic actions: 1. Personalized Customer Service: By ensuring customer service representatives (CSRs) address clients by name, lenders can create […]
Rethinking APR: The Misguided Metric Hurting Borrowers
Misconceptions Around Short-Term Loan Costs and the Ineffectiveness of APR Understanding Short-Term, Small-Dollar Loan Expenses Short-term, small-dollar loans, often misconstrued in cost discussions, have a straightforward expense structure for consumers: borrowing $100 typically incurs a flat fee of $15 until the next payday. This model is transparent, with no hidden charges or escalating interest, ensuring […]
Unlock the Power of Speed: Instant Funding Solutions for Modern Lenders & High-Risk Borrowers
Expanding Access to Small-Dollar Loans: Innovative Funding Methods for Subprime Consumers In the evolving landscape of online lending, especially for subprime, credit-challenged consumers in the USA, it’s crucial to explore and implement versatile funding methods. This blog post [signup for our free Newsletter] delves into various strategies to streamline financial transactions for these consumers once […]
How to Start a Payday Loan Business in 2024
The Comprehensive Guide to Starting a Payday Loan and Check Cashing Business Introduction to the Payday Loan and Check Cashing Industry The payday loan and check cashing industry presents a unique blend of financial services, offering quick, short-term loans and check cashing services to customers. With a market size of approximately $11 billion, it’s a […]
Unlock the Secrets of Payday Loan Company Licensing: A Comprehensive Guide!
Payday Loan Licensing 1. Introduction– Brief Overview of Payday Loan Companies Licensing– Importance of Licensing2. What is a Payday Loan?– Definition– How Payday Loans Work3. The Necessity of Licensing for Payday Loan Companies– Protecting Consumers– Regulation Compliance– Building Trust with Customers4. Licensing Process– Application– Requirements– Evaluation5. Federal Regulation of Payday Loans– The Consumer Financial Protection […]
Exposed: The Shocking Truth Banks Don’t Want You to Know About Subprime Lending!
I appreciate the acknowledgment that banks are stepping into a space that non-traditional, Alternative Financial Services lenders [AFS] lenders have served for years: short-term, small-dollar loans [$50 to $1500] for individuals needing immediate financial assistance. However, while banks may be newcomers to this arena, it’s essential to understand that they have not improved upon what […]
Will a $3.99 Monthly Initiative Revolutionize Accessible Cash Advances for the Average Joe?
The Disruptor Joe Consumer was more than a simple guy living in a modest apartment in Queens. He was a dreamer, an idealist who wanted to bring financial empowerment to millions of Americans. At 32, he’d done his time working for large tech companies, where he learned a lot about what not to do. Joe […]
🎯 “Maximizing ROI: The Pros and Cons of Pausing Lead Purchases on Mondays and Fridays”
The pros and cons of changing your lead purchasing and staffing strategy. Resource allocation and strategy optimization are crucial for long-term success in the competitive landscape of consumer lending. One proposed strategy is to pause the purchase of leads on Mondays and Fridays, which historically show lower conversion rates and reallocate staff efforts towards converting […]