According to Forbes Magazine, areas with large concentrations of Christians are the "Promised Land" for payday lenders.
The magazine's website cited a study that portrayed such areas as the Southern Bible Belt as hotbeds of payday loan lending. The study claimed a "strong correlation between the number of payday lenders within a geographic area and the political power of conservative Christians within a state."
According to SmartMoney, industry analysts estimate that 19 million U.S. households used a payday loan in 2006. This number is sure to grow this year as more Americans look to such advances to address their immediate cash needs.
Another factor: the realization that "regular" bank lending may be restricted as a result of recent trouble in the credit markets.
Payday loan have indeed helped a lot of Christians. In fact, there are some payday websites branding themselves as a lender for Christians...
Posted by: AceCashExpress | August 18, 2009 at 05:41 PM
During the economic crisis in our country, the Government debt relief help became a boon for solving the financial issues due to debits.
Posted by: wisconsin payday loans | January 26, 2011 at 02:04 AM
Great job here. I really enjoyed what you had to say. Keep going because you definitely bring a new voice to this subject. Not many people would say what you’ve said and still make it interesting. Well, at least I’m interested.
Posted by: online cash advance | February 03, 2011 at 10:56 AM
It's good that a certain group of people has already found something to rely on these days. I find it interesting that these people also depend on these loans and yet, still have not forgotten their faith and beliefs. Of course, it's typical to have cash loans, because money is the prime motivator and one of the necessities of people. Almost everyone needs it now!
Posted by: Kaiser Villaviciencio | May 09, 2011 at 06:55 PM