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What's the best resource for information on starting a payday loan business? What's the best resource for information on starting a payday loan business? SkyeBlue replied: "A good place to start might be running for office and becoming a politician, that'll give you experience on how to be a parasite that preys on poor and working class people for your livelihood."
TheDudeAbides replied: "I agree with the ladies comment. If you want to be wealthy, think of ways to improve the world, not be a blood-sucking leach scumbag (another one) preying on the middle and lower class.
Get some class."
Zeb replied: "Don't pay any attention on any of those stupid answers, they must have got screwed by the market cuz they couldn't control their budget and got F***ed up with finance and ended up with bankruptcy....
as for your question: Find someone who have been working for one payday loan company or still is. Go shop around try to apply for loan I mean you don't have to get the loan but ask for the requirements check and see what they offer, don't just go couple of places; search your state requirements and talk to a lawyer, make sure you have at least 15/20k for startup cost with additional 100/150K to run the day to day business.
if you need help please feel free to post back or email me.... I'll be glad to help." what are some good marketing and advertising ideas for my payday loan business? i work at a payday loan company and we need to increase our quota on new customers, what is an excellent way i can do that. steve.c_50 replied: "You work at a place that preys on poor and people in a bind so market that. Offer an interest rate reduction, say to 405% for a limited time. Step up the pace when electric and phone bills are due, maybe some granny that eats alpo for dinner could use an 800% loan. Put up a sign outside that says "We Are NOT Scum"...perhaps someone will believe it."
luv2help replied: "Offer a discount for first time users. Doing this easily and discretely as possible is key. It's embarrassing and degrading to some... I would focus on three major factors
Privately done (in lieu of the walk in places)
Ease of use
And a savings for first time users"
kpraveenkumars replied: "affliate marketing, SEO, SEM
Regards"
AndreBell3k replied: "The fastest way for an established company to get new customers in any business is to go to your existing customers. Give them incentives to use your services more frequently or at higher volumes.
You could also use them as referral sources.
The second fastest way is to find kindred companies and ask them to promote you to their clients. In your case (legalities aside) it could be employers, banks, or other local credit agencies that turn down loans that are too small or too high risk for them.
Denny's restaurant of all places has an employee lunch time incentive program that impressed me so much I added it to my collection of 'must do' for my clients.
Here's how it works... Denny's sends an 11x17 poster and blank ID cards printed on thinly laminated paper to employers with 25 or more employees, within specific number of miles of the restaurant. The card claims priority lunch service and a discount.
Disneyland does the same thing with employers in California. Maybe surrounding states too. It works beautifully.
Could you do the same?
Infousa.com can provide lists of employers that match your ideal criteria and geographic region. I'm in no way associated with them. Simply get a list of ideal employers, put together an offer to relieve the employer's headaches of paycheck advances, and send the offer.
I bet there are thousands of employers who'd love not have to do payroll advances anymore.
Andre Bell"
clpdirectster replied: "You can advertise online at a business directory for free"
RaleighF replied: "Online or offline? Two totally different strategies which you need to clarify to get a good answer.
Good luck." How do you start your own Internet Payday Loan Business? The business that pays you in 24 hours and send money to your account?
Do you know any information and how to establish this business?
Do i need a licences? How do i get banks? RichDaddy replied: "Try the link below. Not quite what your talking about but close."
bmh423 replied: "I don't know, but that is a damn good business idea. Good Luck!" Can someone provide some good TV marketing copy for my payday loan business? My company name is Zip Cash so we were thinking of incorporating Zip into the copy. I was also wanting a jingle or at least a catchy phrase. I want to emphasize fast, convenient, considederate, personal attributes. karen g replied: "Zippitey doodah Zippitey Day get the cash you need in a flash TOOOODAAY!
Cash in a flash at ZIP CASH
No credit checks
No hassles
Bring in your most recent bank statement
and your check stub and get your cash in ten minutes...
go on line to other cities (so for example if you live in maine see what the jingles are in Idaho) and steal elements of thier slogans
change it enough to the point that they wont sue you but why reinvent the wheel" Working at a payday loan business bad for future employment? My friend has fallen on hard times and needs a job. He has great qualification and has been offered a GM position at a payday loan company. He doesn't like it too much ethically but he can stand it for a year or so.
Business is booming at these places as you can imagine and he will be very well trained. Plus, his store will be located in a higher income area so many of the customers will be using western union, small business owners needing to cash a check fast, and things like that.
Will working as a branch manager look bad to future employers? I know that many think it's predatory lending but he doesn't set the prices, he just works there. Will this screw him in the end?
Thank You,
TJ skyblue replied: "I think most employers will consider your friends personal work ethic, experience, and knowledge of the position they are hiring him for, and not judge him because of the company he worked for. Instead of looking at the ethical issues regarding payday lending, your friend should focus on what he will learn and gain from working with this company." Need Help... i want to start a payday loan business.? What do I need to know
What do I need to watch out for
What are the laws
How do I set up a direct deposit
What is used for collateral to collect? John R replied: "A couple of things to thing of
1) you take the risk of the checks balancing
2) banks will consider your business a risk and will not want you to deposit with them.
3) There is no collateral
4) Laws could change which will greatly effect your income."
steve g replied: "You want to be a blood suckers? People have lost life savings, cars, trucks to these b______ds.
Find another way."
countess almasy replied: "One word: Franchise. You will get no where on your own."
kidsthreemy replied: "have u thought about tryin to loan to folks on here? I know there r lots of us that look for a legit loan, I am one of them. Good Luck!" Factoring, small receivables, payday loan investing? How can I become a silent or minority partner in a factoring, small receivables, or payday loan business? I know many of these firms need capital, I'm interested in investing in the firm and earning a return on my investment but not actually participating in the day-to-day activities of the business. Shibboleth replied: "Alrighty then...
Sounds like you're looking to get involved with any kind of business that charges interest at loan-sharking and mafia levels.
Do yourself a favor, for you soul's sake...
Invest in treasury bonds."
fushia replied: "contact several businesses and ask them if they would like a silent partner. tell them you wish to invest in there company and ask to look at the books to see how business is." |
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How to Start a Payday Loan Business, How to Start a Cash Advance Company How to Start a Payday Loan Business, payday loan franchise, cash ... How the other half banks. - By Michelle Leder - Slate Magazine Payday Loan - Wikipedia Cash Now Payday Loan Franchise Opportunity Check Cashing Stores For Sale - Payday Loan Businesses For Sale | BizBen payday loan industry watch : news story : Short-term payday loans do a ... California Sues Payday Loan Business Payday Loans and Cash Advance Businesses - The Ultimate in Predatory ... California Department of Housing and Community Development |
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