05-24-2011, 09:00 AM
They would not locate in an area if that area didn't have customers for them.
Regardless of what moral compass one puts on this type of business, it's legal and people want it. Truth is, in states where they are illegal or tightly regulated; it has not stopped the problem of high interest short term loans. It just went underground, mostly into the hand of criminals.
But, ethics and business rights aside, I still have not heard any viable alternatives to payday loans.
Disclaimer: I did own shares of both First Cash Financial and Dollar Financial that resulted in a sizable gain to my investment portfolio.
Regardless of what moral compass one puts on this type of business, it's legal and people want it. Truth is, in states where they are illegal or tightly regulated; it has not stopped the problem of high interest short term loans. It just went underground, mostly into the hand of criminals.
But, ethics and business rights aside, I still have not heard any viable alternatives to payday loans.
Disclaimer: I did own shares of both First Cash Financial and Dollar Financial that resulted in a sizable gain to my investment portfolio.