A middle-class relocate to payday loan providers

A middle-class relocate to payday loan providers

The unpretentious city of Cleveland, Tenn., in the foothills of the Great Smoky Mountains seems an unlikely epicenter for a $50-billion-a-year financial industry with its quaint downtown and tree-lined streets.

But this is when W. Allan Jones founded look at money, the granddaddy of contemporary lenders that are payday which appeal to an incredible number of financially strapped working people who have short-term loans — at annualized interest levels of 459%.

“It’s the craziest company, ” said Jones, 55, a genial homegrown tycoon who founded their independently held business in 1993. Continue reading “A middle-class relocate to payday loan providers”