Open a Payday Loan Company

You want to start a small dollar loan business?

A payday loan or car title loan company for example?

Don’t overly complicate this.

How to start a payday loan business

Start a PDL Company

If they are legal where you live, simply visit a competitor offering the types of loans you would like to offer. Appy for an receive a loan. Borrow the minimum amount; say $50 – $100. Get copies of EVERYTHING. All the documents, take a quick picture of the loan charts on the walls. Take note of the licensing authority typically disclosed on the walls of this competitor as well. In the USA, Canada, UK… these consumer disclosures are mandated.

Then, take these docs home and reach out to the licensing authority for details on applying for a license. There is much more to this subject than can be explained here… consider our Payday Loan Startup Manual described here: Payday Loan Business Bible

And, if payday loan or car title loan companies are not legal where you live/work, consider offering them via the Internet. This is not much more challenging than opening a payday loan or title loan store. And of course, we thoroughly teach you how to do this in our “Bible.”

Questions? Jer@PaydayLoanIndustryBlog.com

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