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People love, hate payday lending industry
Published: Thu, February 7, 2008 @ 2:29 p.m.
Frank Sinkovich is proud to be a payday lender.
He figures the loans from his Boardman business help people keep their electricity turned on or pay a bill without bouncing a check.
“We’re a service for people who have a temporary need and no one else to turn to,” said Sinkovich, manager of Abe’s Cash Advance, 4605 Market St.
But some people are working to turn off the cash that flows freely from businesses such as Abe’s. Borrowers now can receive two-week loans of up to $800 simply by having an income and a checking account.
For more on this story, see Friday’s Vindicator or vindy.com.
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Comments
This is great. I agree with Frank! Payday lenders are a great service and I think they should stay the way they are. If I need quick cash, I can get it. In this free country, that is the way it should be. This is a premium product, so it should have a premium price. What I have found is that most of the people who don't want these payday stores to stay in business, don't even use payday advances. That makes no sense at all! Why don't we ask the customers what they think? I am a customer, and I think they should stay the way they are.