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 Start a Loan Business Course
Here it is! Our newly updated 500+ page Manual. We thoroughly explain step-by-step how to start & operate a profitable consumer loan business. Start a Consumer Loan Business WARNING: The Manual you are about to invest in will dramatically enable you to prosper in “The Business of Lending to the Masses” and greatly reduce your […]
How to Start a Consumer Loan Business: $297.00
Here it is! Our newly updated 500+ page Manual. We thoroughly explain step-by-step how to start & operate a profitable consumer loan business. The Course: “How To Start/Improve a Consumer Loan Business.” Our 500+ Page Manual: $297.00 Topics covered: How to launch a consumer lending business Installment Loans Payday Loans Small Dollar Loans Car Title […]
A 36% APR on a 2-week loan = customers pay $1.38 per $100 borrowed.
Learn how to start a consumer loan business! Your inventory is MONEY! What could be better? Zip! Perspective FALLACY #1: Payday lenders, car title lenders, installment lenders, and all small-dollar loan lenders can earn a profit under a state-imposed 36% annual percentage rate cap. FALLACY #2: Small-dollar loan customers should simply go to a bank […]
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.
Valuations: Consumer Loan Companies
How to value consumer loan companies. For Buyers, Sellers Startups, VCs…
“The Payday Loan Puzzle.”
“FACT: Two-thirds of individuals who use both credit cards and payday loans have at least $1,000 of credit card liquidity left when taking out a payday loan.” The term “Payday Loan” comes with more negative connotations than the term “carpetbagger” did after the Civil War. Our industry, “the business of lending to the masses” has […]
How to Loan Money to the Masses Profitably
Let’s get real! Lending money to the masses can be very profitable!
We are rapidly becoming a nation of “haves” and “have not’s.” The average U.S. worker is paid $23/hour. In real terms, $23/hour has the same purchasing power as $6/hour 40 years ago. The result? Staggering household debt! [Yes, I know! Many of you are reading this Course as you sit in Australia, Europe, the Islands, China… It’s the same theme everywhere. The business of lending money.]
Who Gets Payday Loans Today
NOTE: Quite frankly, PAYDAY LOAN products are dinosaurs! Virtually all forward-thinking payday loan lenders have evolved to various types of “installment loans, line-of-credit loans, even buy-now-pay-later” [BNPL] forms of payment. [These BNPL financial products are often worse than old school payday loans because consumers OFTEN fail to realize the payments eventually do come due and they simply forgot! The free interest evaporates and the late fees kick in. It gets REAL UGLY fast. But, this issue is another Post.]