Payloan Secrets

Product Description
This updated analysis by Marketdata examines a little-researched service sector — the $6.56 billion loosely regulated check cashing, payday loan, and money transfer services (serving 35% of the US population). Many companies are happy to accept the business of consumers with spotty credit records who have been rejected by traditional banks, or the “unbanked” that choose not to maintain checking accounts. Explosive growth has taken place in the young payday advance business, which has come under heavy scrutiny. In addition, many workers in southern California, Texas and other areas wire an estimated $10-12 billion to relatives at home, contributing to a booming business growing 15-20% per year. There are 13,000 check cashing outlets, 14,000 pawn shops, 10,000 payday loan stores and 154,000+ money transfer agents competing for this business today. Many stores/services overlap—providing multiple services at the same site. This unique new study by Mar… More >>

The U.S. Check Cashing, Money Transfer, and Payday Loan Industry