In good investment analysis connected with nationwide industry, Robinson predicted that the quantity of stand-alone shops that do just payday funding will more than quadruple by 2002 — from about 6,000 to 25,000 — and that industry earnings could increase from $2 billion to $6.75 billion.
“Every state is an appealing market,” stated William M. Webster IV, president of Advance America, based in Spartanburg, S.C., the country’s biggest payday funding chain with 1,300 outlets nationwide.
Webster heads the city Financial solutions Association of America, market trade team he stated hopes to “get good, appropriate legislation passed generally in most 50 states” allowing payday funding.
Scott Cooper, an organizer with Baltimoreans United in Leadership developing, a company this is certainly regulators which are pushing break right right down from the state’s home-grown payday lenders, is worried in just what he views when the industry’s predatory methods.