Advance America, Cash Advance Centers (NYSE:AEA.DL)
CAPS Rating:
The Company is a provider of payday cash advance services in the United States.
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The Company is a provider of payday cash advance services in the United States.
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With banks reluctant to make consumer loans, even for those with average credit, more and more people are being served by the Cash Advance/Payday lenders - even at exhorbant interest rates, sometimes exceeding an annual rate exceeding 460%.
This is too bad for the struggeling economy; but business for these "Vultures" is good - unfortunately.
Kahuna, CFA
Venture Capital
Portfolio manager