JD Mainous
Greenville, SC (USA)
Role(s):
Anytime Cash Advance
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Startup
Location:
Greenville
Industry:
Finance
Year Founded:
2004
Number Employees:
INVALID
Description:
Cash Deferment Industry. We make short term loans up to $300 to people who need a personal loan. There is currently no resourses available to people who need a short term loan so we are filling that niche. Our customers are average middle class citizens who usually become repeat customers. WE make a fee on the transaction. Our deliquency rate is 8% with a charge off of 2%. We are regulated by the State and hold a license specific to the industry. We currently own 3 stores and are looking to expand by 10. The return the first year is 20% or more with an expected 80 to 100% return every year after. Each store on average should return 100 to 200K annually. We are looking for a 50% owner and 50%profit sharing. Will take 50k start up per store. Very lucrative venture. WE have numbers