Tag Archives: U.S.
The U.S. Payday Loan Services Industry
Product Description
Nature of The Business
Fastest growing segment of the alternative financial services industry
The standard and bank business models – discussion
CFSA industry Best Practices. Guidelines.
Emerging Industry Trends
Check cashing services and pawnshops are entering the payday loan market – analysis
End-User Demographics – Who is the Payday Advance Customer?
(by age, income, amount of loan, gender, reasons for loan, etc.)
Review of the Georgetown Study – major findings
Review of the IO Data study – major findings
Advance America s customer demographics.
Regulation of the Industry
Review of federal regulation
Review of payday loan terms and interest rates
Industry Size, Growth, Forecasts
Industry sales and number of units for 1999 through 2004 – analysis
Industry sales and number of projected units for 2005 through 2008
Payday Loan Industry Financials & Profit Margins
R… More >>
The U.S. Check Cashing, Money Transfer, and Payday Loan Industry
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