Is it possible to name the industry that boasts more storefronts nationwide than McDonald’s and Starbucks? The solution may shock you — it is the payday financing industry.
In Michigan, near to 600 payday financing storefronts each problem about 3,000 loans each year, creating $935 million in annual income statewide.
That cash comes at a cost that is high customers such as for example Kathy from Lansing. (more…)