Their hope is the fact that without title and payday loans to draw upon, borrowers have actually looked to credit

Their hope is the fact that without title and payday loans to draw upon, borrowers have actually looked to credit

For fifteen years, Southern Dakota residents whom required a little sum of money in a rush could look to storefront loan providers whom made socalled payday advances at yearly interest levels which could increase more than 500 %.

The industry thrived, and payday financing companies that made loans on a regular or month-to-month basis popped up by the dozens throughout the state.Continue reading