Is it so unusual to find people choosing Payday Loans as their preferred option?
Passing along another example of people using a keyboard without thinking it through. This time from Canada as published in Ottawa’s MetroNews, linked here-
The writer goes on about the cost of borrowing money. Finally, stumbling upon the idea that handling loans takes time, effort and resources which may keep financial providers (such as Banks) form wanting to handle small loans;
“Bouvier said major banks should be offering overdrafts and other credit services for people with limited means so people don’t have to use payday loan firms. She said she suspects they are trying to avoid the extra work.
“I don’t think they want people working hours doing hundreds of little loans.””
We suspect they are correct. What surprises us is the writer seeming to feel like a huge unknown fact has been discovered.
It does take time and resources to handle these loan accounts or any account for that matter.
They seem to suggest it’s a dirty secret that the Banks have to pay for personnel and facilities in order to make these loans, and that requires operating at a profit.
That where Payday and Installments lenders come into the picture. We fill the need, and specialize at short term small dollar lending.
Being specialist, we do it for less as a matter of efficiency. Let us now if we can help you, https://CQCah.com