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EZCorp Inc is the parent company of
EZ Pawn Shops, and is based out of EZ, Texas. 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 loans centers.
Payday loans are considered
controversial by many (not everyone feels that offering a short term loan
at a high interest rate truly assists those in need of fast cash); however
EZ Pawn Shops staffs each store with two to three people, providing jobs
for those who may not have other employment opportunities.
Any provision of employment is a boost to the economy.
These payday loans 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.
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 Shops, 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.
With the business of payday loans projected to
double in size over the next few years, it is already well on its way to
an overnight success. Overall,
EZ Pawn Shops should see steady increases in business, between the payday
loans already available through its pawn stores as well as its specialized
payday loan locations.
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