LoanSafe - Loans 100% Guaranteed - No Losses - No Collections
Would you like to offer payday loans to your customers in Texas? Become a Credit Service Organization (CSO) / Credit Access Business (CAB). You can charge anything you want, but most are charging $20.00 per one hundred loaned. The average loan is $300.00 and the average term is fourteen days. The vast majority of your customers will return to your store when their loan is due paying you your fees and the interest due to your third party lender. You will then renew their loan for another fourteen days.
You will need to be licensed by the state as both a CSO and CAB. You will need a third party lender and you will need software. If you do not have a lender we can introduce you to one.
Our LoanSafe program will manage everything for you and all your approved loans will be 100% guaranteed in seconds. Just use your web browser to securely submit information about your loan customer to LoanSafe. The LoanSafe program will score your customer, and will guarantee or deny the loan in seconds. Once the loan is guaranteed, your worries are over. If your customers check goes bad, just remit the check to LoanSafe and we will reimburse you for the full amount of your customer’s check (principle, your fees, and the interest due the lender).
The success of the LoanSafe program for you as the CSO / CAB depends in part, on the efforts you make to reduce bad debt. Experience has shown us that success on the CSO’s / CAB’s part can be helped by implementing the following: Verify income with a pay stub, Verify identification with proper ID, Require the customer to pay off the loan only in CASH.
LoanSafe is a subsidiary of MMI Corp, Inc.. MMI Corp has been in the pawn business for over thirty years. MMI Corp has been offering payday loans in their pawn stores for over twenty years.
If you do not want the guarantee program, we do offer a program called verification only. This program will score your customer just as if LoanSafe were going to guarantee the loan. LoanSafe will let you know if we would have guaranteed the loan and the amount we would have guaranteed. Or, you can just write a loan without utilizing our scoring.
Payday Loans will increase your traffic, increase your customer base and increase sales in your stores.