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??? Charities aren't expected to lose money. If they did, it wouldn't be sustainable. They are expected to make a small profit, otherwise they wouldn't last. I
by aestra 13y ago
??? Charities aren't expected to lose money. If they did, it wouldn't be sustainable. They are expected to make a small profit, otherwise they wouldn't last.
I'd also like to see some sources behind those number. As far as I know you just pulled them out of your ass. Around here there are many payday loan places that advertise on TV with celebrity spokespeople. If they weren't making a big profit, I don't know how they could afford it.
- nemothekid 13y agoI looked into all this roughly two months ago when a user in the financial industry responded to Elizabeth Warren's proposal for the government to handle payday loans. Here he outlines why they don't work - http://www.reddit.com/r/progressive/comments/1wygov/elizabeth_warren_proposes_replacing_payday/cf7tgns http://www.reddit.com/r/progressive/comments/1wygov/elizabet... The next reply goes into their cost effectiveness - http://www.reddit.com/r/progressive/comments/1wygov/elizabeth_warren_proposes_replacing_payday/cf7ukod http://www.reddit.com/r/progressive/comments/1wygov/elizabet... Now if you don't want to believe "some user on Reddit", take into account that those "payday loan places that advertise on TV" are also publicly traded companies. Here is EZPAY's public info at Yahoo Finance - http://finance.yahoo.com/q/ks?s=EZPW+Key+Statistics http://finance.yahoo.com/q/ks?s=EZPW+Key+Statistics, their return was only 5.60%. Heres where I got that 6%/30% number: https://www.qcholdings.com/mythsaboutlending.aspx https://www.qcholdings.com/mythsaboutlending.aspx