Overview
One of the unique ways we have successfully grown Advantage Cash Advance is through our partnership program. This partnership program allows qualified entrepreneurs to partner with Advantage Cash Advance and own their individual store(s) without any upfront license fees. This is the fastest and easiest way to jump into the lucrative payday lending and check cashing business.
Advantage Cash Advance has plans to continue its' growth by selling territories to qualified Area Representatives in the US. The qualified applicants will then have the rights to establish Advantage Cash Advance Franchise stores within the specified territories.
Products & Services
Customers who have a short-term cash problem must have the following items in order to qualify for a payday advance:
1) Current bank account statement
2) Two current paycheck stubs
3) Two current home bills
4) A home telephone number
5) A valid drivers license.
Customers who are approved will then write a post dated check to Advantage Cash Advance and receive cash on the spot.
Example of $100 payday advance.
If the applicant qualifies for a $100 payday advance, Advantage Cash Advance issues them cash in the amount of $100. The customer then repays the advance and service fee totaling $116.50 within 14 days. (Different service rates may vary based on State regulations)
Advantage Cash Advance issues cash to its qualified customers. We offer the most convenient business model in the industry today. Many payday advance competitors only issue checks to their customers. The customer then needs to go their bank or some other location to cash the check.
Training & Support
Advantage Cash Advance also provides market data, news letters, legislative information and overall Advantage Cash Advance performance on a quarterly basis.
If there are changes to the Advantage Cash Advance processes or business practices, the Area Representatives and Franchisees will be contacted and trained accordingly.
Advantage Cash Advance will also provide a training manual to the Area Representatives and Franchisees for reference and to assist in the training of store personnel.
Why Advantage Cash Advance?
The demographic for this market is primarily made up of people 18-55 years of age, have a household income of less than $50,000.00, have at least one child and live paycheck to paycheck.
Customers use the payday advance service to avoid excessive costs associated with having insufficient funds in their bank accounts or "bouncing" a check. The costs associated with "bouncing" a check can be as high as $70 after the bank and merchant penalties are assessed. The payday advance service provides a viable alternative to avoid these excessive penalty costs.