Most of us don't know how entrepreneurs can make money through paydays [PDL] and small dollar loans. Often, we focus too much on our enthusiasm, skills and knowledge base, so that we cannot understand other ways to monetize our knowledge and understand this dynamic industry. The short discussion will cover several ways we can use the payday/small dollar loan product to develop multiple revenue streams. If you and your team are dissatisfied or unwilling to actually fund the loan, please note that there are many ways to earn “a lot of money” in the small dollar loan industry. [Note that this list has no specific order.]
* Fund loans. Of course, this is the obvious way most of us use it to maximize returns. We set up the company and get permission in the right place. We open stores, use advertising and signage to attract customers and fund our own payday loans. This "brick mixed" model is still working well. In this way, you can still make a fortune.
* Use the internet. Consumers in the United States, Canada, Australia, New Zealand, the Caribbean, the United Kingdom, Ireland and other countries require the use of our payday loan products. However, not all consumers have the ability to simply walk into a nearby cash prepaid store and get cash. We all know that state payday loan legislation is not good. Consumers who pay in advance on millions of paydays are forced to use call centers and corporate websites outside the scope of protection that their state may provide, or use "best practices" promoted by CFSA.net and FISCA.org. And, let's not forget the value of combining the “brick mortgage” payday loan operation with the website. The “big brother” in the industry has figured out and purchased the existing payday loan internet company. We believe that the main value of their approach is that these Internet companies have been pursuing and obtaining licenses from multiple states in payday loans. In any case, it makes sense to combine the website with your "brick house". Funding for loan requests submitted by your state/province through your website, and only selling your local loan to you would rather not do business. [see member]
* Loan leads. Millions of dollars have been used to collect and proxy small dollar loan leads and applications. [see member]
*advisory. Entrepreneurs have a huge demand for participation in the PDL industry. Their desire for software, licensing and regulatory, store location, website development, ACH processing, stored value cards and prepaid card deployment, compliance and more is endless.
*member. Startups and individuals who have never funded a single prepayment have never had more money in the PDL industry! Collect tens of thousands of dollars a month by simply creating a website to collect PDL leads and applications and sell them to PDL companies that are willing to actually make loans. Today, these leads and applications range in price from $3.00 to $100, depending on sales volume, filter conditions, quality, source, and any due diligence before the sale. To give just one example, a payday loan lead generation entity sells 50,000 payday prepayment applications per month, for an average of $9.00 each. The buyer claims to provide 40% of the funds for these potential customers! We estimate that less than 10% of the payday loan websites on the Internet today actually funded the payday advance payment! Entrepreneurs simply set up a website and become a member of http://www.cj.com, and it is very easy to start selling payday loan leads to advertisers immediately. In addition, you can create a Google AdSense account and earn approximately 30% to 50% of your revenue per click [currently ranked first with $7.02 per click]. Last month, Google conducted 294,000 searches for the term "payday loans." Of course, this count does not include the arrangement of all other “payday loans” such as “payday loans”, “cash advances”, “payday loan cash advances”, “no track payday loans”. ,and many more. This also does not include searches performed on other search engines [eg Yahoo, AOL, Earthlink, MSN, etc.]. Our research conducted more than 1,000,000 searches for the term "payday loans" last month!
*supplier. There are no restrictions on the variety of products and services that can be offered to PDL operators and cash advance consumers. Creativity is the key to sustained revenue in our industry. PDL operators need creative solutions to address compliance issues, create complementary products, advertising and marketing, collections, solidify relationships with PDL consumers, customer identification, customer employment confirmation, bank account and ACH verification, security, insurance , store layout, website and software points.
*investor. There are indeed individuals and organizations eager to invest at a favorable interest rate. We receive their enquiries every day. Transactions that do not involve equity usually receive a return of 2% to 5% of monthly interest payments. The key to PDL operators and potential investors who need funds to meet their needs is to thoroughly research and understand PDL products, develop specific criteria for investing or using funds, and fully assess the capabilities of both parties. work together. Finally, all agreements must be submitted in writing.
* Education. Opportunities to help payday loan operators increase revenue and meet compliance and legislative issues abound. Similarly, topics related to marketing, advertising, collection, compliance, accounting, insurance, fraud, investment, debt repayment, complementary products and services, customer relations, and law are just a few of the themes. [http://www.PaydayLoanLegislation.com] requires a payday advance payment operator.
* Franchising. Entrepreneurs are keen to get information about how to get started in the PDL industry. Independents want a strong brand and well-organized operations to provide outstanding and timely support. The turnkey payday advance payment model will generate the most money success.
* Trade organizations and magazines. It is shocking to realize how many existing and potential PDL operators, suppliers and suppliers do not know that we have trade organizations and magazines. Access and support Fisca and CFSA. And don't forget our trade magazine Cheklist [sic]. Cheklist Magazine maintains a list of state payday loans and check cashing associations.
The bottom line is: entrepreneurs, training organizations, suppliers, suppliers, educators, consultants, etc., all have the opportunity to gain substantial income and recurring income sources by participating in the PDL industry. The prerequisite for success is to conduct appropriate research, develop effective plans, follow up and adjust, and combine integrity and honesty.