You decide to head down to the place on the corner that advertises "Quick Cash Now. " You've walked by it a hundred times but never had cause to go inside. You decide to give it a try. It's so easy. You're out the door in 15 minutes, and 500 will be deposited in your account sometime the next day.
Sure, it cost you 50 in fees, but nothing beats that convenience, right. That convenience is a 40 billion-per-year industry in the United States [source: Kirchoff]. This is the industry ready credit cash advance fee payday lendingand it's served by more than 22,000 locations nationwide.
There is a strategic smokescreen in place obfuscating the true relationship between Think Finance and Plain Green Loans, said Radek Jagielski, a senior analyst at PrivCo, a provider of financial data on privately held companies. Jagielski researched the companies at HuffPosts request. According to the agreement submitted as an exhibit in tribal court and a former Plain Green executive, Think Finance provided everything the tribe needed to start the online lending business: a portfolio of Think Finance customers from its old ready credit cash advance fee operation, underwriting software, payment processing, marketing, an offshore loan buyer and legal representation.
Plain Green offers small loans of between 250 ready credit cash advance fee 1,000 for first-time borrowers. Returning customers are eligible for loans up to 3,000. The agreement between the tribe and the company explains how when a customer logs on to Plain Greens website and applies for a loan, Think Finance's software processes the customers information, evaluates whether to make the loan and calculates fees.
According to a 2011 flow chart created by Think Finance, Plain Green pays TC Decision Cash advance muskogee ok, which Think Finance has said in federal court filings is one of its entities, 50 for each approved and funded loan.
Some financial institutions have the opportunity to expand their loan portfolio by more than 100, and this is only over the past eighteen months. The concept of "microcrediting" appeared in South Asia in 1974. The founder of this concept was Professor of Economics Mohammed Yunus.
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