he majority of us are unaware of the multitude of ways an entrepreneur
can make money with payday (PDL) and small dollar loans. Often, we're so
focused on our own passion, skill and knowledge base that we fail to
comprehend other methods of monetizing our expertise and understanding
of this dynamic industry. This brief discussion will cover a few of the
ways we can develop multiple revenue streams all utilizing the
payday/small dollar loan products. If you and your team are
uncomfortable or unwilling to actually fund loans Payday Loan Lead be advised there are a
multitude of ways to make a "ton of money" in the small dollar loan
industry. (Note, this list is in no particular order.)
* Funding Loans. Of course this is the obvious method most of us employ
to maximize our returns. We form a corporation, get a license where
appropriate, we open our store, utilize advertising and signage to draw
customers and fund the payday loans ourselves. This "brick-n-mortar"
model still works very well.
And fortunes are still being made with this approach. * Utilizing the Internet. Consumers in the USA, Canada, Australia, New Zealand, the Caribbean, England, Ireland, and more demand access to our payday loan product. However, not all consumers have the ability to simply walk into their neighborhood cash advance store and receive one. We are all aware of states having unfavorable payday loan legislation. Millions of payday advance consumers are forced to use call centers and web sites of companies outside the protection their state may offer or the "best-practices" promoted by CFSA.net and FISCA.org. And, let us not forget the value in combining a "brick-n-mortar" payday loan operation with web sites. The "big guys" in our industry have figured this out and purchased existing payday loan Internet companies. We perceive the major value in their taking this approach was the fact these payday loan Internet companies had pursued and secured multiple state licenses. In any event, it only makes sense to use a web site in conjunction with your "brick-n-mortar(s). Fund the loan applications submitted via your web site by residents of your state/province and simply sell those from locales you prefer not to do business in. (See Affiliates) * Loan Leads. There are millions of dollars being made collecting and brokering small dollar loan leads and applications. (See Affiliates) * Consulting. There is a tremendous demand by entrepreneurs to get involved in the PDL industry. Their thirst for knowledge regarding software, licensing and legislation, store location, web site development, ACH processing, stored-value and prepaid card deployment, compliance, and on and on has no end. * Affiliates. There has never been more money being made in the PDL industry by entrepreneurial companies and individuals that never fund a single cash advance! Ten's of thousands of dollars are made monthly by simple creating a web site to gather PDL leads and applications and selling them to PDL companies willing to actually fund the loans. Today, these leads and applications sell from $3.00 ea to as much as $100 each depending on volume
And fortunes are still being made with this approach. * Utilizing the Internet. Consumers in the USA, Canada, Australia, New Zealand, the Caribbean, England, Ireland, and more demand access to our payday loan product. However, not all consumers have the ability to simply walk into their neighborhood cash advance store and receive one. We are all aware of states having unfavorable payday loan legislation. Millions of payday advance consumers are forced to use call centers and web sites of companies outside the protection their state may offer or the "best-practices" promoted by CFSA.net and FISCA.org. And, let us not forget the value in combining a "brick-n-mortar" payday loan operation with web sites. The "big guys" in our industry have figured this out and purchased existing payday loan Internet companies. We perceive the major value in their taking this approach was the fact these payday loan Internet companies had pursued and secured multiple state licenses. In any event, it only makes sense to use a web site in conjunction with your "brick-n-mortar(s). Fund the loan applications submitted via your web site by residents of your state/province and simply sell those from locales you prefer not to do business in. (See Affiliates) * Loan Leads. There are millions of dollars being made collecting and brokering small dollar loan leads and applications. (See Affiliates) * Consulting. There is a tremendous demand by entrepreneurs to get involved in the PDL industry. Their thirst for knowledge regarding software, licensing and legislation, store location, web site development, ACH processing, stored-value and prepaid card deployment, compliance, and on and on has no end. * Affiliates. There has never been more money being made in the PDL industry by entrepreneurial companies and individuals that never fund a single cash advance! Ten's of thousands of dollars are made monthly by simple creating a web site to gather PDL leads and applications and selling them to PDL companies willing to actually fund the loans. Today, these leads and applications sell from $3.00 ea to as much as $100 each depending on volume
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