Sub-Category:
Loans
County:
Inquire With Broker
Employees:
8 - Full-Time, 14 - Part-Time
Facilities:
Multiple Locations
Relocatable:
No
Home Based:
No
Market Notes:
The US consumer lending industry consists of more than 14,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $37 billion. Global household debt exceeded $50 trillion in 2020, hitting a new record high of over $280 trillion of total global debt due to pandemic-driven factors, according to the Institute for International Finance's Global Debt Monitor. In the US, total consumer debt approached $4.2 trillion in March 2021, according to the Federal Reserve.
Growth Notes:
The Company has seen explosive growth since inception, and is also stabilizing post-COVID. With more government benefits such as unemployment and stimulus checks beginning to slow, the necessity of these types of loans are becoming more imperative. The founders also believe their business model could easily be translated to an online model, using the Company’s underwriting methods and customer demographic data, which could provide additional growth. The Company is also currently merging locations of both entities, so that loans issued under each of its’ models can be provided in the same location, thereby decreasing overall overhead .
Support Training:
To Be Discussed
Financing Terms:
N/A
Reason for Selling:
To Be Discussed
Inventory Included:
No
Is Franchise:
No
Lender Prequalified:
No
Absentee Owner:
No
Selling Financing:
No
Is FEE Included:
Yes