THE BLOG

08
Nov

Great News: CFPB Payday Loan Lending Rule Stayed! Opportunities Abundant

Consumers WIN BIG! CFPB payday loan rule shut down!! And DEALS/OPPORTUNITIES are immense today.

Frankly, there has never been a better time to be “lending money to the masses.”

  • Demand for credit by borrowers is huge.
  • Stats are all over the map – depending on the source – but something like 60% of US households do not have access to $1000 cash in an emergency.
  • The big sub-prime lending season is almost upon us.
  • Jobs and ability to pay us back are through the roof.
  • Consumer optimism is sky high.
  • Washington D.C is not likely to devise too many roadblocks that could stifle all this enthusiasm.

THE BIG NEWS TODAY?

U.S. District Judge Lee Yeakel reversed a previous order and grantedContinue Reading..

Share
31
Oct

The CFPB- Like Giving Whiskey & Car Keys to Teenagers – More Good News for Lenders

Giving money and power to government is like giving whiskey and car keys to teenage boys. [P.J. O’Rourke.]

It’s a fact that things are looking really good for those of us who make it our “business to lend money to the masses!”

Yeah, it’s competitive out there! Yep, there is a lot of fraud. FTD [first time defaults] are scaling up.

CAC ‘s are on the increase. Elevate revealed a funded loan costs them $225 each. Enova is close. On the other hand, we have portfolios with <$80 CAC’s and <12% FTPD’s.

The economy is blazing along, average folks feel good about Continue Reading..

Share
29
Sep

The Business of Lending: How to Loan Money to the Masses

The Business of Lending Money to the Masses!

So you know, we’ve been pounding away at the beach cottage with a small group of seriously talented consumer loan operators and lenders the past 17 days.

The results? New guides & reports updated just this week to guarantee your consumer loan business will succeed. You have questions? Challenges?

Need answers about installment lending, car title loan lending, payday loan lending, line-of-credit loan lending… ?

Here they are:

1)  “Consumer Loan Business/Payday Loan Proforma Excel Spreadsheet Tool.” We provide a solid foundation with realistic consumer lending metrics and via the Excel Spreadsheet/Macros you change them to reflect your “secret sauce.”

2) “A Guide to Consumer Loan Company Valuations.” Valuation approaches and considerations for buyers, sellers and Startups of payday loan, installment loan, check cashing, car title loan… virtually any company funding consumer loans.

3) “How to Get Your Money.” This is one of Miro’s Powerhouse Courses for helping you to collect your consumer loan bad debt. No B.S. here from Miro. Just straight “real world” collection techniques for lenders.

4) “Tribe Sovereign Nation Documentation, Term Sheets and More.” A complete package of ALL the legal docs required by tribes, lawyers, lenders, management groups, marketer/servicer teams… to successfully launch a Tribal Lending Enterprise.

5) “Texas CAB/CSO Analysis and Docs.” A complete description of how the CAB Model works, sample docs, agreements, contracts, 3rd Pary lender introductions… Everything you need to enter the HIGHLY LUCRATIVE Texas CAB/CSO consumer loan industry.

For detailed descriptions of each new “consumer loan business tool” we just created and have them delivered into your Inbox IMMEDIATELY:
http://www.PaydayLoanIndustryBlog.com/buy-now/

 

Share
22
Sep

U.S. Bank Simple Loan vs Payday Loan

The CFPB has compared bank & credit union overdraft [NSF] fees to a short-term styled payday loan products with a 17,000% APR!”

According to Pew a bipartisan – in our opinion – “research association” –  12 million people a year take payday loans. If borrowers can’t make the payment, they often pay more fees to renew the loan. Payday borrowers, Pew found, spend an average of $520 in fees to repeatedly borrow $375.”

Yes, and a taxi costs $4800 from New York City to Los Angeles. BUT WHO WOULD DO THAT?Continue Reading..

Share
17
Sep

Inspiration, Always Be Learning, Payday Loans in Namibia & Title Loans in Mongolia

“The Cash Converters business model [750+ locations in 18 countries] offers a three-for-one income stream for franchisees – dealing in second-hand goods, pawnbroking and micro loans,” said Mukheibir.”

I spoke with a member of Cash Converter’s Team a few months ago. And recently, I received a call from “the largest car title loan operator in Mongolia.”

This is crazy! The majority of us are so focused on US consumers that we fail to pay attention to what’s going on “in the business of lending to the masses” in other countries.

Mongolia? Namibia? Kenya? Tanzania? Afghanistan? South Africa? India? Albania? Romania? Kazakhstan…? Serious, new consumer financial platforms are revolutionizing the business of lending money and money transfer throughout the world!Continue Reading..

Share
Share
Share