How To Set Up A Payday Loan Business

If you want to start a payday loan business with third party lenders or with no third party, the beginning stages are the same. When you want to make money off of payday loans, you need to know important things like how much money you’ll require for repayment.

The average payday loan is between $250 and $300. If you will process 100 payday loan advance applications, you’d need up to $30,000 in one payday. Getting a franchise for a payday loan business is another option.

You don’t actually need to have a full payday loan business online in order to make money today. There are many payday loan agencies that have affiliate programs in place where they’ll pay you a fixed amount [sometimes as high as $25] to refer customers to them. This gives you a payday without needing to worry about the capital requirements.

Read from our guide the basics of starting your own loan store. You can open a loan business outright, start it with your existing business or get a franchise. You can potentially make your money grow several hundredfolds. In less than a year, you can earn at least 30% return on investment.