Tag: start payday loan business


Taking Action in Any Vertical

How start payday loan businessYou think confidence comes from believing in yourself and accomplishing things.

But really, confidence results from having close personal relationships with people who believe in you.

So, if you focus on surrounding yourself with these people who believe in you, you’ll have the confidence to take action. (Stolen from Dane Maxwell while being interviewed by Jamie Tardy.) Google them!

92% of the “entrepreneurs” I talk to: read, study, Google, waste vendors time and ultimately do nothing. “No guts, no fame.”

Get a job or “man-up.” Lady-up if it’s appropriate. It takes “huevos” to survive in the loan shark industry. Yes, my friends, peers and clients cringe when I use that terminology (take that Scott C. :o) But, they don’t pay my bills or my property taxes here in Calif.

The OLA conference looked like a morgue. Everyone left standing looked as if they had survived the battle of the bulge. Put this temporary blip behind you! Now that we can serve consumers lacking traditional bank accounts, we have an army of 60M – 70M borrowers waiting for a smart Team to figure out how to deliver the $$ to them.

So, wake up, stand-up, find the right collaborators and get back in this small dollar loan game!

Lead prices have crashed, demand for them has tanked, more lead gens and aggregators are launching; crazy but true. Big data guys are cutting your underwriting costs.
ACH providers have jumped over board like rats but new ODFI’s are already here to fill the void.

The tribe model will persevere. It will require patience and persistence but the tribes will prevail; zero doubt!

And, if you were one of the operators employing the state licensing model due to fear, lack of guts, or shrewdness, YOU WON – so far.

Yes! The over-used word “pivot” has occurred in the PDL space. But, let’s NEVER forget that borrowers by the tens of millions are frantically searching via their smart phones, tablets, iPhones, Androids…for a LENDER TO HELP THEM.

Is that lender you? Or, are you a quitter?

Again: Disruption = opportunity. One word to describe the current state of our industry? DISRUPTION.

So, what you gonna do? I know what I’m doing? I’m buying paper at 8 cents on the dollar.

Finally, our VERY BEST WISHES TO A WONDERFUL FRIEND in the PDL space: Jerry (Jerome) Greenberg. We made a lot of $$ together. Hope he gets back in the game!! Best wishes to his family as well!!

Jer at Jer@TrihouseConsulting.com TALK TO ME! Good – Bad- Indifferent…


In Defense of Payday Loans – Reason TV

This piece entitled, “In Defense of Payday Loans” is a little dated but still worth a look. Most payday loan operators are focused 100%  on running their lending businesses so we have little time left for developing Youtube videos, writing letters to the editor of our local papers, etc. And regarding customer testimonials, few of our clients are willing to come forward because of their embarrassment at having to use our product.  The reality is there are few complaints by anyone other than our competitors (banks, credit unions, credit card companies, pawn shop owners, rent-a-center (RAC) operators…) and the so-called consumer advocates who haven’t a clue.


Payday Loan Marketing Idea

payday loan marketing graphic wrapThis picture says it all! This “graphic wrap” for your business is a no-brainer. Drive it… move it… park it… better than signage. It certainly can compensate for a poor location! Budget $2500 depending on your locale. Email us for your local installer.

Need know-how? Want to start a payday loan business? Sign up for our Payday Loan Boot Camp Click here to join us for an intensive 2-day Boot Camp in our “LIVE” Store in Southern California (near Disneyland).

Are you thinking about getting into the Payday Loan business? Do you want to really know the in’s and outs of owning a payday Loan company? Reading a Manual is one thing, but actually performing the daily task of owning and operating a payday loan company is a whole different beast. A Payday Loan Manual cannot answer specific questions that arrive after just reading it. So stop reading and start doing!!

Come to our Payday Loan Boot Camp and experience the actual day to day operations in a live store to see if this business is right for you!!

We will show you how to:

  • Get a customer and exactly what to do when your first customer arrives.
  • How to qualify and process a Payday loan candidate.
  • How to collect once you have your first customer.
  • We will enable you log into our software and teach you step by step the process of writing a payday loan.
  • We will answer all of your questions at that very moment to end any speculation that may occur.
  • We will show you exactly how to organize you office to handle your daily tasks.
  • What to do if a loan goes bad.

So, stop guessing how this business works and come learn on the job!! Our boot camp will save you a tremendous amount of time and money. When you leave our payday loan store, you will have the tools and experience needed to start a payday loan business!!

Click here for Schedules and Pricing Information
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Trihouse Consulting PaydayManual.com


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 THINK.

There are serious disturbances occurring today. Worldwide consumer demand, technology, regulatory oversight, extraordinary availability of capital, disclosure and cycle-of-debt issues…

What does all this really mean? There has never been more opportunity in our space than today. Sure, there are challenges.


Customers all over the world – by the millions – want our product.

What’s this mean to you? How do you want to get involved?

Do you want to partner? Are you an Investor? A Lender? Have capital? Need capital? Got an idea? Are you a vendor? A seller? Want to sell your stores? Your Internet operation? Sell your portfolio?

LET ME KNOW! I’M BOMBARDED DAILY by Lenders, Operators, Investors, Buyers, VC’s, Hedge Funds and Entrepreneurs! Let’s explore together…

Here are a few in no particular order:

  • Serious $$ ($2M-$10M+) needs placement. Very smart, experienced operators are in demand! The financiers need YOU! ROI? Depends on the “deal,” the structure, the Team, the terms,the exit strategy…
  • Capital looking for opportunities. Know anyone with a SOLID team in place, not a start-up, already have substantial “skin in the game ($$) who needs capital $2M+ for funding PDL’s (no infrastructure build-out, no operations expenses to be paid with a new capital infusion), probably earn 2% – 5%/month or more depending on the deal/structure/equity?
  •  Brick-n-mortar buyers with cash! Want to sell? Fast?
  •  Internet biz buyers. Want to sell your Internet Biz/Portfolio?
  • Investors: 3rd Party Lenders in Texas! Huge demand due to disclosure requirement of Third Party Lender on new CAB License as of January 1st, 2012. Fully collateralized, 15-20% annual ROI is typical. Secondary challenge is the $25k net asset requirement per location – operators need help with this kind of operating capital too. There are over 3,500 Texas CSO’s and Texas is blowing up with business
  • Operator with 10 years+ experience, started Brick-n-mortar, now have $150K on the street via Internet. Looking for $100K – $500K in tranches strictly for funding PDL’s via the Internet. Strong Team!. Couple of state licenses currently..Ready to rock-n-roll!
  • So. California stores for sale.
  • Mississippi stores for sale
  •  Missouri stores for sale
  • Several other states with stores for sale
  • We have a “ton” of small, very experienced Lenders in PDL or car title all over the USA looking for expansion capital. For example, very small car title Lender in TX, 15 years exp. looking for $50K for funding. These are not start-ups. They just can’t meet demand nor can they access the banks. Boatloads of this scenario! Beautiful, tightly run store winning system and making money.
  • Tribes need access to capital to launch PDL operations, casinos, check cashing stores, infrastructure, training and more.
  •  Exploring the tribal/sovereign nation model? Need help?
  • Are you a compliance pro? An “in-the-trenches collaborator” capable of working with “crazy” payday loan entrepreneurs?
  • Need help navigating the Texas CSO>CAB transition?
  • Are you a seasoned payday loan professional looking for new opportunities? Are you a Lender in need of experienced talent? Our industry in cranking! Complete privacy assured.
  • Analytic savants needed. Everyone is working on their “secret sauce.”
  • Plenty more all over the map but I gotta go row! Newport Beach is BEAUTIFUL today!

Look, my phone rings off the hook all day! Some days I’m on it non-stop. (Actually I have 2 cells, a notebook, a laptop, a desk top, and iPad and an iPod!).I’m buried with the daily dynamics and opportunities in Lending. Call me 702-208-6736. Send an email Jer@TrihouseConsulting.com with your ideas/needs.

And do your research! Get up to speed. Figure out what you want to do in this PDL game. It’s INTERNATIONAL! Visit the DFC Global web site and listen to their last 10K! Look-up Zest Cash, Wonga, DebtResolve… They’re all discussed on my Blog.


Finally: A RESPECTFUL, short comment about our industry by a Banker:



Just getting started? http://paydaymanual.com/cash-advance-store.html


Advertising-The Simple Methods Still Work with Payday, Car Title and Gold

Remember – the simple stuff still works! In the age of the Internet, IPads, smart phones, PPC programs like Google and Bing, text messaging, blogging, click-to-call, yada, yada, yada… the offline marketing channels still work great! This is true for both brick-n-mortar and online payday loan, cash advance, “pink-slip (car title) loans, scrap gold buyers and more.

Specifics? We have a location near a freeway off-ramp. We put up a highway billboard with a large graphic of one of our founders, a pot-of-gold and a simple call to action. After implementing the new billboard one week, we increased our weekly scrap gold purchases 30% and increased our store net revenue (on the gold side) from $4000/week to $5200/week. Scrap gold buys and revenues continue to increase! Our “out-of-pocket” costs are less than $300/month.

The point? Don’t forget the basics! Simple works!! Jer@PaydayLoanIndustryBlog.com
Leave a comment! What do you think? What’s working/not working for you?