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Cash America International, Inc. Message Board

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  • mentges mentges Aug 12, 1999 4:36 PM Flag

    I hope is the bottom. eom

    I have noticed some hastily made banners going up
    at check cashing stores in Northern California
    offering "payday loans." I feel this trend is not good for
    Cash America unless they jump on the bandwagon in a
    big way. Basically these are non-secured loans, based
    on a previous pay stub, and verification of
    employment. The location I went in to seemed to be offering
    loans under $250. Traditional pawn operations take
    merchandise to secure the loan, which essentially becomes a
    liability if the person doesn't reclaim the item. I was
    pretty shocked at the junk that FirstCash is selling on
    its web site - coffee makers, telephones, etc. All of
    this stuff can be bought new at WalMart for less than
    $25. I have to presume that Cash America also has an
    inventory of rapidily depreciating goods. (considering the
    rapidly falling prices of manufactured goods from China,
    Korea, etc with devaluating currencies).

    line - If these payday loans are the future, then
    perhaps Cash America should take a big write-off on
    inventory, and offer these loans in pawn stores - not just
    their check-cashing stores.

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