Tag: how to start payday loan Internet business


Payday Loan Company EZCORP on the Motley Fool

Rich Duprey at The Motley Fool has an insightful post regarding the future of the payday loan and pawn industry. His post states, “Greater sales volume for merchandise, an increase in same-store-sales and higher fees generated from payday loans allowed EZCORP and rival First Cash Financial Services (Nasdaq: FCFS) to achieve rich results last quarter.”

The point is made that our payday loan customers, like most citizens of the world, are loaded with debt and have no one to turn to but us. Who but a payday loan lender will advance $300 to $1500 with little more than a promise to pay us back. A job and a bank account is all that is required.

Read the full article here; it’s great reading… Rich Duprey & The Motley Fool


The Secret – Payday Loans – Car Title Loans – Scrap Gold Business – How to Get the Info You Need

The Secret – Payday Loans – Car Title Loans – Scrap Gold Business –
How to Get the Info You Need

The information and help you need for your micro-lending business
is there for the asking. You’ve just got to learn the SECRET!

Because we not only offer consulting and training but we actually
“DO” payday loans, car title lending, scrap gold buying and more…
plus the fact we dominate the Internet in these niches… we find
ourselves on the leading edge for micro-lending “how-to
information.” Got a new product or service for our industry? You’re
gonna contact us and let us know about it. After all, we get
hundreds of phone calls and emails each week from new and existing
operators looking for help. Any vendor, supplier, potential or
existing operator performing their due-diligence is going to bump
into us. So of course, we expect to hear from them!

And yet it astounds me how reluctant many payday loan and car title
lender entrepreneurs are to tap into the network of pros in our
industry. Just consider all the existing operators, vendors,
suppliers, national and state organizations there are, who are up
to their eyeballs in our industry. Every day these industry
insiders are fielding phone calls and emails, answering questions,
tracking down rumors, explaining their services and investigating
their competitor’s products and services.


Our training materials list dozens of ACH providers, payday loan
and car title loan software solutions, I.D validation services,
compliance pros, legal experts, industry trade magazines, insurers,
bond agents, investors, regulators, reloadable debit cards, web
site developers, Check-21 services, consumer account verification
services, collection data bases, fraud prevention, check cashing
solutions, Internet lending turnkey solutions, OFAC help, stores
wanted, stores for sale, call centers, collection/debt recovery,
debt purchasing, rapid tax refund turnkey solutions, and on and on
and on…

Whether you’re a potential or existing operator CALL THEM! Ask
questions. Don’t be afraid to tell them your situation! You’re
brand new to the business? Let them know. You’ve been in it 100
years? No problem. Payday loans, car title loans, scrap gold
buying… they’re all dynamic industries! New models, technology,
rules, associations, legislation and more are introduced all the

Look, you’re busy running your business every day. You can’t
be expected to remain current on every aspect of these fast paced
businesses. So… set aside an hour each week to reread our
training materials and place a few phone calls. Prepare a couple of
questions ahead of time AND WAIT FOR THE RESPONSE!

Remember the old saying, “We have two ears and one mouth”, so ask
your question and then shut-up and listen. This is an art that many
of us, myself included, need to master.

Now this is important! I’m not suggesting you pick up your phone
on a whim or shoot-off an email every time you you need an expert
opinion about some aspect of your business. These people have time
constraints just as you do. Again, do a little research on your
own, prepare a few questions ahead of time and then allow yourself
to digest their response. Make it clear where you are in your
discovery process and end with a gracious, “Thank You.”

*************Our Sponsor******************************************
Vendors and suppliers: Reach over 5000 readers:


You’re brand new to the industry and you need info regarding payday
loan software. Call a minimum of three vendors listed in our Payday
Loan Training Manual or our “Payday Loan Internet Report” and
arrange for a free demo. Prepare a list of open-ended questions for
the sales rep. Ask them and then simply sit back and listen. Let
her know you’re brand new!

We’re not going to cover every conceivable question but after
asking questions such as:

What features and benefits does your payday loan software offer
that your existing customer base most appreciates?

What states/provinces/counties due you currently have clients in?

Are you integrated with any ID validation services?

ACH providers?

Collection tools? Templates? Email integration?

Back-end accounting functions?

What other products and services will your software support?

Veritec integration?

CSO capability?

Web Based?

Lead integration?

NOW! Don’t hangup the phone yet! Ask for their thoughts on the
current state of the industry and about your specific
state/province. Ask them for the contact info for a couple of their
clients located in your geographic area. Ask them if they offer
clients of Jer and Trihouse Payday Loan Consulting a discount AFTER
you’ve already been quoted a price for their software solution. Ask
them about upcoming association meetings and conventions. Ask them
what they think it takes to get started in the business.

Finally, remember to thank them!!! And if you’re impressed with
their knowledge and helpfulness, let their boss know with a quick

Then, digest what you just heard. It’s rare (but possible) to find
an unbiased sales person. So… try to imagine what their agenda is
and weigh this when developing conclusions about what you were just
told about the industry and their product or service.

There really are some truly great and extremely knowledgeable
vendors, suppliers, and operators in our industry. Many of them are
specifically mentioned in our training materials. You’ve got to
learn to reach out to them and LISTEN!

Then, one day when you get that call from the “newbie” or seasoned
micro-lender asking for your help, remember!

Remember to give a little!!

Micro-lending is a profitable and fascinating industry. Now go make some MONEY!

Questions? Comments? Ideas?


Payday Loans – How to Start a Payday Loan Internet Business

Payday Loans – How to Start a Payday Loan Internet Business

Regarding a payday loan internet business start-up, be aware that you don’t need thousands or hundreds of thousands of dollars to begin. We’ll teach you how to achieve this with less than $100! Also, you don’t need to partner with a bank in order to build a payday loan internet business.

Here are the real facts.

1) You can make a ton of money with a payday loan internet business and never fund a single payday loan.

2) Simply build a payday loan web site or payday loan blog. Be aware that payday loan blogs rank much higher in the search engine results much faster then static payday loan web sites. We’ll teach you how! Begin by visiting HowToMakeMoneyInYourUnderwear.com and read the two free reports, “Bloggers Bible” and “Blog Profits Blueprint.” Or, visit HowToMakeMoneyInYourUnderwear.com click on “Get Blogged Now” and pay roughly $250 for a tech savy developer to build a Blog for you.

3) Setup a free account with commission Junction, perform a search for payday loan companies who want to partner with you. You then “feed” payday loan customers from your web site or blog to the payday loan funding companies. In return you’ll earn, as of this writing, $20 to as much as $55 for each loan application.

4) Once you have your payday loan web site or payday loan blog “live” you’ll focus on techniques and strategies for “driving” significant payday loan customers to your web site so you can “feed” them to your payday loan funding partner.

5) When you’re ready, begin funding your own payday loans. Review our “Payday Loan Internet Report” for a thorough step-by-step discussion and full explanations to achieve this.

With our current economy, the demand for payday loans has never been greater. This is not rocket science! You can participate in the lucrative payday loan industry.

You really can literally make money in your underwear! Visit HowToMakeMoneyInYourUnderwear.com to find out how.


2009 Payday Loans, Car Title Loans & Pawn Shop Resolution

Like most prognosticators, we expect 2009 to be a very tough year for jobs. Unemployment will certainly increase; 10% or higher wouldn’t surprise us.

But, like they say, where disaster lurks opportunity reveals itself IF you’re a “glass half full” kinda fellow.

So, in the payday loan, car title loan, rapid tax refunds, and pawn shop industries expect 2009 to experience increased demand for our products followed by a focus on collection activities.

After all, it doesn’t help much if your customers clamor for your products but are unable to pay you back in a timely manner.

Remember, it’s “all about the job”. Construction, retail and service jobs are at risk in most geographic locations. Are you up to date on what’s going on in your community? Do you know which companies are laying off and which ones are growing?

As I write this I’m in Clarksville, TN. I’ve been visiting with family and meeting with clients in car title lending and payday loans. I picked up a local newspaper and on the front page is an article about a $1.2 billion dollar polycarbonate factory coming to town. 1000 construction jobs until the factory is scheduled for completion in 2012. Then 500 manufacturing jobs will result with an estimated 8 more related jobs for every 1 factory job created by this project.

And yet, many of the small business men I’ve spoken to here are unaware of this development. You can bet the manager of the TitleMax store knows about it. In fact I went over and met with him. It wasn’t long before we began to discuss it’s implications on his business.

The point? Resolve in 2009 to always know what’s going on in your community. Join at least on of the local business organizations. Read your local paper every day. Join a charitable group.

Get involved! You’ll be glad you did. Not only will you profit but more importantly you’ll feel better!!



Payday Loans, Indian Reservations & Sovereign Nations

The Metropolitan News Enterprise ran an extremely interesting article regarding The Payday Loan Sovereign Nation Model as employed by several Indian Tribes.

In essence, the Division 7 Court of Appeals ruled that several payday loan companies in partnership with the two indian tribes sued by the California Department of Corporations have sovereign immunity and are NOT subject to California payday loan lending statutes and regulation.

This is a fantastic development as we have facilitated the organization and implementation of the  Request More Info Sovereign Nation Payday Loan Model.

Here is a Reprint
Div. Seven Monday granted a writ of mandate sought by five companies
asserting tribal immunity in an action brought by the California Department
of Corporations. The panel overturned an injunction and sent the case back
to the trial court for a determination of whether the relationship between
the tribes and the companies satisfies the requirements for immunity.

The department sued in June of last year, charging that Ameriloan, US Fast
Cash, United Cash Loans, Preferred Cash and One Click Cash had ignored its
“cease and desist” orders and were violating the Deferred Deposit
Transaction Law by lending without state licenses and charging excessive
fees, among other ways.

Internet-Based Business

The companies are engaged in a largely  Internet-based business of lending
money short-term to borrowers who pay back the loans by authorizing
repayment from their checking accounts on specific dates, typically on the
next payday. The business is controversial because the loans carry huge
charges, without regard to the number of days for which the money is
borrowed, and has been regulated to the point at which it is virtually
outlawed in some states.

In response to service of the complaint on the companies, The Miami Tribe of
Oklahoma and the Santee Sioux Nation appeared specially in the action and
moved to quash for lack of jurisdiction. The tribes asserted that the five
defendants were operated by tribal corporations pursuant to tribal
resolutions, that the proceeds of the businesses were used for tribal
government and social welfare purposes, and that the lenders were arms of
the tribes and shared the tribes’ immunity from being sued in the absence of
express congressional authorization or waiver.

Retired Los Angeles Superior Court Judge Joseph R. Kalin, sitting on
assignment, denied the motions and granted a preliminary injunction barring
the companies from engaging in the allegedly unlawful practices set forth in
the complaint. He ruled that the tribes are not immune from liability for
off-reservation commercial activities and that the state’s power to enforce
its laws under the Tenth Amendment takes precedence over their claims of

He also ruled that the tribes had waived any immunity, the Miami because the
tribal corporation operating the businesses was created by a resolution
authorizing it to “sue and be sued,” and both tribes because arbitration
clauses were included in their standard loan agreements.

Presiding Justice Dennis Perluss, however, writing for the Court of Appeal,
said the trial judge erred in several respects.

Tribal sovereign immunity, Perluss said, will apply to off-reservation
commercial conduct if the predicates for such immunity are met. He
distinguished cases holding that states may regulate tribal commercial
activities occurring on nontribal lands.

Those cases, the presiding justice explained, concerned preemption, not
sovereign immunity. The U.S. Supreme Court, Perluss noted, has recognized
that “[t]here is a difference between the right to demand compliance with
state laws and the means available to enforce them.”

Tenth Amendment

Nor, Perluss said, will the Tenth Amendment override the tribes’ immunity
from actions to enforce lending laws. Such actions, he said, are
distinguishable from those of the type discussed by the Supreme Court in
Agua Caliente Band of Cahuilla Indians v. Superior Court (2006) 40 Cal.4th

In Agua Caliente, the state high court said the state had a right to
enforce campaign contribution reporting laws in administrative proceedings
against Indian tribes. The court said the case involved “unique
circumstances” and that the peoples’ right to a  republican form of
government, as well as the reservation of rights by the states under the
Tenth Amendment, allow the state to insist that tribes obey the same
regulations as other donors.

That ruling is limited to the unique field of campaign reform and does not,
Perluss wrote, permit “a broad abrogation of the doctrine of tribal
sovereign immunity.”

Perluss acknowledged that the expansion of tribal commercial enterprises may
call into question the justification for the broad application of sovereign
immunity. But such policy judgments are left to Congress and not to the
state courts, he declared.

He went on to note that the “sue and be sued” clause in the Miami resolution
was specifically limited “to the extent of the specific terms of the
applicable contract or obligation,” and that the arbitration clauses in the
loan agreements were similarly limited to specific transactions and were not
broad waivers of sovereign immunity that would permit a consumer protection
action by the state.

The presiding justice did, however, take note of the department’s argument,
based on evidence it claimed to have discovered after the injunction was
issued, that the loan companies were actually independent of the tribes but
were involved in a “rent-a-tribe” scheme created solely to avoid complying
with the lending laws.

Such evidence, Perluss said, should properly be considered by the trial
judge in order to determine whether the companies are truly arms of the
tribe. Past Court of Appeal decisions, he noted, have established criteria
for resolving that issue, “including whether the tribe and the entities are
closely linked in governing structure and characteristics and whether
federal policies intended to promote Indian tribal autonomy are furthered by
extension of immunity to the business entity.”

The case is Ameriloan v. Superior Court (People), 08 S.O.S. 6711.