Payday Loan Industry-Opportunities, Challenges and Respect
Jer here. My rant today targets the multitude of opportunities in the payday loan space. Capital is simply a commodity! Ask what your financier brings to the table in addition to dollars. This isn’t a short analysis. You want superficial B.S? Click away now . Pay the price, invest 5 minutes of your time and [...]
Bankers Can Learn from Payday Loan Lenders
Payday loan lenders get a little respect! Michael Moebs, CEO of Moebs Services, was quoted in American Banker as follows: “Banks can learn from payday lenders’ streamlined lending approach, says Moebs. “The thing that I’ve admired about that industry is it’s extremely efficient. They would make a banker’s head spin with how fast they can [...]
State of the Payday Loan Industry Today
Here’s a quick summary of what’s going on in the micro-lending space today! The Internet side is growing 30% – 35%. There is a constant influx of newer, younger customers accessing short-term lending products. They’re coming to us via the Internet and their phone. Rather than cannibalizing the stores, the Internet is bringing new customers [...]
Payday Loan Franchise?
I received a call this morning from John. John wants to start a payday loan business. He’s been researching the payday loan industry for 6 months. John’s question, “Should he buy a franchise?” This particular payday loan franchise company requires John to have about $215,000 to open. This consists of a $35,000 one-time franchise fee, [...]
Banks, Payday Loans and Competition
From Optirate, “Banks have the misfortune to be confronting the discounters just when marketplace and legal changes are drying up some of their traditional revenue sources, like packaging sub-prime mortgages and gouging people with overdraft fees. An economist at a bank regulatory agency (who asks for anonymity) estimates that $25 billion a year of [...]
Payday Loans Are Like Coconuts? You’ve got to be kidding!
I love to talk about the loan shark… I mean payday loan and micro-lending industry. I’m lucky! I receive calls and emails from around the world. So… I’m talking to Charlie B., a silicon-valley buddy of mine who’s been exploring the micro-lending space for a while. He begins to tell me about his trip to [...]
Payday Loan Future Trends? A Look at Our Future!
The future is HERE! Want proof? Read below. When the big boys get it, could it be too late for the rest of us? Got an idea? A solution? Need funding? Connections? Got a bolt of lightning locked up in your jar and need some help unscrewing the lid? Call Me! Email Jer! 702-208-6736 PDT [...]
Payday Loan Customer Acquisition Costs – What Do YOU Think?
Getting a payday loan customer into your store or on your web site landing page is a challenge. What works today? Radio, TV, direct mail, human directional advertising (sign spinners ),Google, Yahoo and Bing searches, referrals, Craigs List, newspapers, PennySaver and Greensheet ads, signs, flyers, business cards yada, yada, yada. The real question? How much [...]
Payday Loan Industry vs Banks: Follow the Money!
A reporter for the Baltimore Sun called me regarding my thoughts on the move by banks into the payday loan space. Banks are making loans to customers based on their direct deposit paychecks. These “payday loans” are then repaid in full – both principal and fees – once the direct deposit clears. It’s VERY common [...]
Zest Cash $19M VC Funding for Short-Term Loans
Thanks to Nick at PDL Industry Blog for this: $19M VC investment in ZestCash for short-term loan product.
