Scummy PDL Marketing Tactics: Continued

If this wasn’t so EVIL, I’d be jealous!

If you have a business website or are planning one, read on.

If this topic is too technical for you, forward it to your website developer! It’s a big deal if you’ve been hit!

Static HTML websites are dead. WordPress sites having responsive, mobile friendly capabilities are the direction for our loan industry.

I’ve previously written about Google’s Adwords policy regarding loan products.

Google has banned all loan products having >36% APR’s.

So…for those of us who were foolish enough to depend solely on Google Adwords to drive our loan transaction volume, we’ve been crushed.

UNLESS your Team has the talent to take advantage of this Google development.

The creators of 404 to 301 Plugin Redirect did!

“A 404 error is often returned when website pages have been moved or deleted.. If you care about your website, you should take steps to avoid 404 errors as it affects your search engine optimization [SEO] negatively. 404 ( Page not found ) errors are common and we all hate it, especially Search engines like Google and Bing! Install this plugin then sit back and relax. It will take care of 404 errors!”

Without getting too technical, the creators of 404 to 301 Plugin Redirect created a Plugin for WordPress websites that inserts the following code on your Homepage AND on an Exit Popup:

“Make Ends Meet With Payday Loans.”

“It is often very easy to face any financial emergency if you have adequate money to pay for them. But, this can seem all too impossible if you often live from one paycheck to another. How will you be able to pay for your urgent financial emergencies? Most often than not, you can’t. Face the reality, when your job is unable to pay for your financial emergencies, it is best to turn to payday loan providers out there.”
[rest of content removed including link to payday loans site]

NOTE: This evil tactic came to my attention because my Team runs several websites on WordPress platforms including,,

What happened?

You run a website using a WordPress platform. You want to avoid 404 errors. You find a free plugin to enable your site to avoid displaying a 404 error. EXCEPT, this plugin advertises payday loans for your competitor!

Get rid of this Plugin! Today!

And be on the lookout for more dastardly tactics employed by your payday loan competitors.

Read the original article by Wordfence HERE: WordFence


TREND: Online Title Loan, Installment and Line of Credit Lending

More “Fintech” Lenders Enter the Online Lending Arena

Startups offering 100% online installment, car title and line-of-credit lending are receiving a LOT of attention these days. And NOT just by the CFPB.

VC’s, hedge funds, family offices and entrepreneurs are entering the alternative financial services space in droves.

Lending money using a car, motorcycle, RV or boat title as security has been around a long time. So has installment, payday and line-of-credit lending.

We’ve been making $2500+ loans in California since 1998. In the “good old days” we charged borrowers 15% – 30% PER MONTH on their unpaid loan principal.

Today – at least in Los Angeles – we get 6% – 8% per month. Still not a bad return! 96% per year… In Texas, payday, title and installment lenders charge 20% – 30% per month on the unpaid principal. Every State varies…

A $3000 California loan on a $6000 automobile yields $360/month to $480/month interest.

And, the borrower still owes us the $3000 loan principal.

So, when I hear about new “FinTech” lenders launching loan platforms offering borrowers title loans serviced 100% online, I’m not surprised.

Example? Finova Financial just secured $52.5 million in funding.

What does Finova Financial do? Cloud and mobile-based auto title loan lending. Basically, Finova Financial is marketing, funding and servicing auto title loans 100% via the Internet.

Who funded Finova Financial? 500 Startups, Refractor Capital, the founder of NerdWallet and a company based in the United Arab Emirates.

Is this really some unique, cutting edge loan platform offering title loans? Hell no!

As we’ve written about in our Title Loan Training Manual, there are already a number of online title lenders that enable borrowers to access, qualify for and receive funding for a title loan via the Internet. All done with no brick-n-mortar footprint!

Some of these business models offer title loans. Some offer installment loans. Others, like Finova Financial offer a hybrid title loan line-of-credit [LOC].

New players are entering the “alternative financial services” space every day; in spite of the noise coming out of the CFPB.

The potential profits and the HUGE demographic that these loan products appeal to is hard to turn your back on!

Money has been and will continue to be MADE!

Business Wire reports 70 million consumers pay $138 billion in fees annually for alternative financial products.

FOR SALE: Online Installment loan company in business since early 2015. State licensed.
$2.5 million out on loan
$400,000 per month in revenue
18% delinquency
3400 loans to date. Info?

Finova claims they will focus on “social-impact, they will be providing up to 70% lower costs to consumers on Car Equity Line of Credit (C-LOC) with complete loan term transparency.” Finova Financial will not employ the typical 30-day loan principal due date forced on consumers by the majority of title loan lenders.


Title Loan Biz

Finova Financial also claims on their website, “By providing an online lending platform that offers fast, affordable loans based on the equity in your car. It aims to deliver an online option to 70 million underserved Americans as well as 24/7 access to capital.”

Finova Financial is certainly NOT the first to enter this industry offering online servicing. Nor will they be the last. What they have accomplised is a PR event. They’ve made some noise, raised some money and assembled a Team.

Nothing anyone reading these words cannot accomplish!

You don’t even need to build the lending platform yourself! There are several quality “off-the-shelf” lending platforms available that enable a new lender to launch in a matter of days. It’s the same situation for consumer underwriting. There are a multitude of consumer underwriting platforms that easily integate with these same cloud-based and mobile friendly loan platforms. [I know them all!]

This is only the beginning!!! Consumers need money every day; since the beginning of time. Sure, we as lenders must always evolve, adapt, adjust, pivot, transform… develop new products… but we will never go away! Our customers need us and there is serious money to be made. After all, it’s not as if you’re buying a restaurant franchise and watching your produce rot! Your inventory is M-O-N-E-Y.

Questions? Help? Want to purchase a $2.5M installment loan portfolio having 3400 loans on the books?


Open a Payday Loan Company

You want to start a small dollar loan business?

A payday loan or car title loan company for example?

Don’t overly complicate this.

How to start a payday loan business

Start a PDL Company

If they are legal where you live, simply visit a competitor offering the types of loans you would like to offer. Appy for an receive a loan. Borrow the minimum amount; say $50 – $100. Get copies of EVERYTHING. All the documents, take a quick picture of the loan charts on the walls. Take note of the licensing authority typically disclosed on the walls of this competitor as well. In the USA, Canada, UK… these consumer disclosures are mandated.

Then, take these docs home and reach out to the licensing authority for details on applying for a license. There is much more to this subject than can be explained here… consider our Payday Loan Startup Manual described here: Payday Loan Business Bible

And, if payday loan or car title loan companies are not legal where you live/work, consider offering them via the Internet. This is not much more challenging than opening a payday loan or title loan store. And of course, we thoroughly teach you how to do this in our “Bible.”