That line above stopped me!
It came from Ashish, an Ohio payday lender.
[ Link to this Free Report ]
Ashish is not a theorist. Not a lobbyist. Not a professor.
He's a real operator with rent, employees, customers, regulators, and a business that used to work better
than it does today.
His note was plain.
The state put most Ohio payday lenders out of business in 2019.
His fees were cut by roughly two-thirds.
His customer count is way down because borrowers now use apps and websites.
He wanted to know
which product or service he could add to his store to replace the income he had lost.
And never forget that Ashish’s customers are working adults in dire financial straits, people trying to cover car repairs, utility shutoffs, rent gaps, medical bills, prescriptions, and overdraft emergencies before a bad week turns into a financial collapse.
They are banked, but credit-challenged, often thin-file or damaged-credit borrowers, and when regulated storefront credit disappears, they do not magically become financially healthy.
They lose one more place
to turn.
When Ashish reached out to me, it was not a “consulting inquiry.”
That is a man standing in the rubble of a changed regulatory market asking, “What do I do now?”
David Ogilvy said, “The consumer is not a moron. She is your wife.”
I would add this:
The lender is not a villain. He is often a small-business owner trying to serve
customers that banks do not want to serve, while lawmakers, regulators, apps, processors, landlords, and public opinion squeeze him from every side.
So we went to work.
The
attached Ohio Payday Loans Strategic Survival and Diversification Report is a free example of the kind of serious work the Team at TheBusinessOfLending.com now delivers.
Read it.
This is not a generic state law summary.
It is not a recycled compliance memo.
It is not a consultant trying to sound smart while avoiding the hard
answers.
It is a serious Resource.
The Ohio Report looks at what happened after HB 123, how the old CSO model collapsed, why storefronts disappeared, what the remaining STLA licensees are facing, what product paths are
blocked, what revenue options remain, and how a surviving storefront lender can defend the license, optimize the product, and build a broader financial services model around the same customer.
That is the work.
The Team at TheBusinessOfLending.com now researches and delivers state-specific Reports for serious subprime lenders, investors, attorneys, software vendors, payment providers, and industry partners.
We research:
Regulatory environment.
Compliance risk.
Political pressure.
Enforcement posture.
Licensing paths.
Product viability.
Storefront reality.
Online lending opportunity.
Competitive landscape.
Alternative revenue strategy.
Expansion risk.
Survival strategy.
Payday.
Title.
Installment.
Line of credit.
CAB. CSO.
Bank partnership.
Tribal. Storefront.
Online.
Hybrid.
We do not just ask, “Is lending legal in this state?”
That is a beginner’s question.
We ask:
Can you make money there?
Can you survive an exam?
Can you bank it?
Can you process payments?
Can you
advertise?
Can you defend the license?
Can you build online volume?
Can the storefront still work?
Is the state worth entering, defending, restructuring, or avoiding?
The wrong state can eat your capital, your license, your bank relationship, your processor, and your patience.
The right state can become a serious profit center.
But you do not discover the difference by guessing.
You discover it by doing the work.
We do the work.
Email me at [email protected] and tell me which state you want researched.
Subject line: State Report Request
Also, my FREE AI Clone answers like I do, instantly.
Free for now. Try it
before I gate it: https://jerayles.com/try-jers-clone/
Ask it about payday, title, installment, compliance, marketing, operations,
underwriting, licensing, collections, software, and state strategy.
You get 10 free deep questions.
Use them well.
Jer TheBusinessOfLending.com
