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Though payday
loans are considered controversial (not everyone feels that offering a
short term loan at a high interest rate truly assists those in need of
fast cash), EZ Pawn staffs each store with two to three people,
providing jobs for those who may not have other employment
opportunities.
The payday
loans service also offers a fast, easy solution to emergency situations
when an unexpected payment may come up (a medical or auto repair bill). It is a good resource for
those times when the “bill hits before the paycheck”, if you don’t mind
paying a few extra dollars to avoid the late fees, over the limit fees,
and credit problems caused by making late payments.
EZ Pawn has become a well-known provider in
the payday loan business because they conducted years of consumer
research, which helped them to conclude that the payday loan industry
offered the best prospects for the growth of the company.
EZCorp Inc, the
owners of EZ Pawn, are based out of EZ, Texas, and is one of the
largest providers of payday loans in the nation.
EZ Pawn has locations in eleven states, with
additional locations labeled as EZMoney Payday loan centers.
Payday loans
are based on the presentation of a paycheck (as proof of employment and
regular income), as well as some personal information.
Through EZ Pawn, it allows an “advance” on
your paycheck for up to 30 days (an average loan is approximately
$300), and incurs some fees, as well as an 18% interest rate.
The payday
loans business is projected to double in size over the next few years
and is already well on its way to an overnight success.
Overall, EZ Pawn should see steady increases
in business, between the payday loans already available through its
pawn stores as well as its specialized payday loan locations.
New!
Paycheck loans now easy to get online!
Online cash advances now available
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