Tag Archives: trends & tactics

Payday Loan Operation Choke Point-Update

Operation Choke Point Lawsuit Update via Judge in District of Columbia. Judge Kessler in the District of Columbia, denied a group of payday lenders allegedly affected by the Department of Justice’s (DOJ) controversial Operation Choke Point. Banks for payday loan lenders. Continue reading

Startup Opportunity with Experienced Tribe Lender

Opportunity: Synopsis of a proposed capital raise for a De Novo Tribe portfolio by an experienced payday loan/installment lender. Proposal for Trihouse to Connect Operators and Capital Providers 2017 Goal: Experienced Lender with capital is re-entering the small dollar subprime lending space and seeks additional capital to partner with in order to grow and scale the portfolio. Continue reading

All About Internet Lending for Title, Payday and Personal Lenders

 Insight & Wisdom in small dollar lending. Digging down below the media headlines… Continued How & Why PDL and Title Lenders Must Embrace the Internet. It’s a fact!  Every day, tens of thousands of consumers are using the Internet and their phone to find a local brick-n-mortar or to apply online for a loan Continue reading

Payday Loan & Installment Loan APR Calculator

APR Calculator & Fees for Installment and Payday Loans APR Formula: [Note: Click LINK below to download a PDF of this Formula.] 100 X 365/D X (C/L -1) =APR Where: D = number of days of loan C = total cost of loan L = amount of loan Typical Payday Loan example: Client borrows $100 […] Continue reading

Texas CSO, CAB and 3rd Party Lender Metrics

Texas CAB and Texas CSO- How to Start a Texas or Ohio CSO – CAB lending Company How Texas and Ohio Installment loan lenders and Payday loan Lenders Use CAB’s and CSO’s – Credit Access Businesses – to Increase Their APR’s above the lower mandated small dollar loan caps. The Texas Constitution mandates a 10 […] Continue reading

Real World PDL vs Bank APR Comparison

There is continued controversy regarding the Annual Percentage Rate [APR] of a payday loan – single payment product – versus bank overdraft fees. Continue reading

Starting a Payday Loan -Title Loan Company

Hello Money Lender, Insight & Wisdom in small dollar lending. Digging down below the media headlines… We congratulate you for recognizing the profit potential of the “business of lending.” It’s incredible how profitable and powerful a lending business can be! Simply put, lending is the best possible business you can be in. Why? Continue reading

The Unbanking of America-Professor Lisa Servon Worked in a Payday Loan Store

Why the Payday Loan Industry is Not Only Surviving But Thriving in 2017! Why do real people use payday loans? Why does the middle class choose check cashers rather than banks? Watch Professor Lisa Servon discuss her new book [2:09 minutes in Video] “Unbanking of America.” One of the RARE academic’s who ACTUALLY LEAVES THE […] Continue reading

CFPB Under Attack Again by PDL, Banks, Credit Union Trade Groups

Congress Attacks All Planned CFPB Rules By: Jer Ayles-Trihouse. Financial, fintech, banking and credit union trade groups are storming Congress to  repeal all upcoming CFPB [Consumer Financial Protection Bureau] rules governing arbitration, payday lending, debt collection and prepaid cards by using its authority under the Congressional Review Act Continue reading

Payday and Title Loan Requirements

Typical Criteria Required to Apply for a Payday Loan, Installment Loan, or Car Title Loan This is a list of fairly typical requirements of consumers to qualify for a loan. These criteria are dependent on the state the borrower resides in, the status of the lender [startup, seasoned…]… Payday Loan/Installment Loan: Valid ID/DL Proof of Income Debit Card {No temp cards} Completed Loan Application Pass credit reporting agency filters Military Exemption Reside in state having enabling payday loan legislation References 3 Title Loan: Valid ID/DL Titled Vehicle Title – Lien Free {Co-signors?} Valuation – 50% Rough Value/Salvaged 20% Rough Value Proof of Residency – Utility Bill/Lease/Mortgage Statement Proof of last payroll amount Completed Loan Application Completed Vehicle Evaluation Sheet Military Exemption Cell phone statement {make copy} Click this link to get the “Bible” on “How to Start a Payday Loan or Title Loan Company.” Payday Loan Franchise? Continue reading