Loan Me Some Sugar: Unique Ways to Acquire Personal Loan Customers
30 Revolutionary Marketing Ideas to Acquire Personal Loan Customers As a chief marketing officer for a B2C personal loan lender, your primary goal is to acquire new and returning customers. To achieve this goal, you need to think outside the box and develop unique, creative, and revolutionary marketing ideas that result in CAC costs of […]
Got Bad Debt? Auction it for Best Rates
Different types of auctions Choose the best rates and sell your payday, title, installment… loan debt in the format that fits you — English, Dutch, sealed-bid, or hybrid. On our digital loan marketplace, you can see in-depth information about the bidders and their profiles. Extensive buyer database There are hundreds of buyers in our network, […]
Understanding the Need for Credit Access among Paycheck-to-Paycheck Individuals
In today’s economy, many people live paycheck to paycheck, struggling to make ends meet. When unexpected expenses arise, these individuals often find themselves in need of credit to cover these costs. This article will explore why people living paycheck to paycheck need access to credit and how lenders can help. Table of Contents Introduction Living […]
Avoid the Apocalypse!
The Spanish-Speaking Market is Booming: How to Tap into it as a Subprime Lender. Having subprime loan products explained in Spanish on a lender’s website & marketing materials guarantees a path to trust and provides access to credit for this growing demographic. It can also help lenders comply with fair lending laws and regulations. 10 […]
How Profitable are Payday Loan Companies?
It’s difficult to know exactly how profitable installment loan and payday loan businesses are because the majority are privately owned and a number of factors influence profitability. These factors include: The size of the Lender’s loan portfolio. The licensing model: State or Tribe. If state licensed, which state? The terms of the loans being offered. […]
Texas CAB & CSO Licenses
FYI all Texas CABs/CSOs THIS IS AN OFFICIAL EMAIL FROM THE TEXAS OFFICE OF CONSUMER CREDIT COMMISSIONER *** A Credit Access Business license(s) licensed under this email has not been renewed as of 12/29/2022 As a reminder, the OCCC will be closed on 12/31. Please plan accordingly. Due to current mailing delays, we strongly encourage all […]
Payday Loan APR Calculator
Looking for an easy-to-use payday loan annual percentage calculator? Use our “Loan Calculator” to compute any 3 unknowns. Simply hit your “Tab Key” on your keyboard after entering the number you know in each field. Enter the “Loan Amount.” Example? 300 to represent $300 Enter the “Finance Charge.” Example” $15. This is the fee charged […]
Myths about Subprime Consumer Lenders
Myths About Subprime Lenders Subprime lenders are anti-saving. Most payday loan, installment loan, and car title loan lenders offer creative savings and reward plans as part of their loan product line. Our rates are usurious. Bank NSF fees approach $38.00. When computed as an APR, these fees equate to 1800%. ATM fees approach 300% APRs. […]
Texas CAB-CSO Credit Access Business How-To-Start
Texas CABs -Credit Access Businesses secure credit for a borrower from an independent third-party lender through an installment loan, a deferred presentment transaction [payday loan], or a car title loan.
How Payday Loans Build Credit for Subprime Consumers
Traditionally, debit card transactions could not be reported to credit bureaus to help build credit because no line of credit is utilized. The funds come directly from users’ bank accounts without any borrowing, and thus no credit relationship is established.
The dinosaurs – old school payday lenders – will find this hard to fathom. But, subprime consumers can build their credit by using their debit cards! Transactions made with their debit cards are used for overnight “loans” and reported to Transunion, Experian, and Equifax! THIS IS HUGE!