Rent-A-Center to offer payday loans
Rent-A-Center to offer payday loans
02:52 PM CDT on Tuesday, July 26, 2005
By IEVA M. AUGSTUMS / The Dallas Morning News
Rent-A-Center 21.99
4:00 PM ET N/A
Previous close: 21.99
If big screen TVs, refrigerators and living rooms sets aren’t enough, some Rent-A-Center Inc. customers can now take out payday loans.
The Plano-based rent-to-own operator said Tuesday it plans to expand its offering of financial services in a few of dozen of its stores by year-end. Currently payday loans are offered at 27 of its ColorTyme Inc. stores in Idaho, Oregon, Utah, Washington, Montana and Nevada.
“Our intention is to introduce those services with the belief that we can roll-out on a larger scale next year,” said chief executive Mark Speese in a morning conference call to investors.
Stores currently offering payday loans in addition to traditional rent-to-own products bring in an excess of $20,000 each in fees every month, Mr. Speese said.
02:52 PM CDT on Tuesday, July 26, 2005
By IEVA M. AUGSTUMS / The Dallas Morning News
Rent-A-Center 21.99
4:00 PM ET N/A
Previous close: 21.99
If big screen TVs, refrigerators and living rooms sets aren’t enough, some Rent-A-Center Inc. customers can now take out payday loans.
The Plano-based rent-to-own operator said Tuesday it plans to expand its offering of financial services in a few of dozen of its stores by year-end. Currently payday loans are offered at 27 of its ColorTyme Inc. stores in Idaho, Oregon, Utah, Washington, Montana and Nevada.
“Our intention is to introduce those services with the belief that we can roll-out on a larger scale next year,” said chief executive Mark Speese in a morning conference call to investors.
Stores currently offering payday loans in addition to traditional rent-to-own products bring in an excess of $20,000 each in fees every month, Mr. Speese said.
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