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Here's a hot opportunity that will not last long!
If you're unaware, California implemented a new Law - AB539 - on January 1st 2020.
In essence, all loans between $2500 and $10,000 have a MAXIMUM interest rate of 36%.
What's the impact on the small-dollar lending industry in California?
Demand for payday loans is through the roof. Consumers are applying for multiple payday loans.
California payday lenders are still lawfully able to charge 15% of the face amount of the loan. The maximum loan principal is $300.
So... your borrower receives $255 and owes the Lender $300 on their next payday.
There is not a data base in California!
Why is demand for payday loans scaling through the roof in California? Because of AB539!
How long will this situation last? Who knows!
The Opportunity? The sellers own words:
