03 Mar Short-identity, no-fool around, no-muss money serve consumers within twenty five,100000 storefronts as much as nation
CLEVELAND, Tenn. -- With its charming the downtown area and you may forest-layered streets, it little area on hills of one's High Smoky Hills seems an unlikely epicenter to own good $fifty mil-a-12 months financial globe.
However, additional reading that's where W. Allan Jones created Check into Dollars, new granddaddy of contemporary pay-day loan providers, hence serve an incredible number of economically secured employees having quick-name finance from the annualized interest levels out-of 459 %.
Particular liken payday loans to help you cab flights, saying that both are bad alternatives for the fresh new future -- and therefore individuals understand it
"Simple fact is that craziest team," told you Jones, 55, good homegrown tycoon exactly who dependent his myself stored providers from inside the 1993. "Users like all of us, but user communities hate us."