Industry Facts
Advance America offers a simple financial option that can give an individual or a family some relief for a short period of time, and a means of avoiding the long-term negative consequences of missing bill payments or the spiral of long-term credit-card debt.
Advance America has raised the standard of professionalism in the industry and will continue to provide a safe, private and dignified option for customers seeking a loan on a short-term basis. In fact, 92 percent of customers say a cash advance is a useful service, and state regulators report very few complaints out of millions of transactions.
Cash Advances—A Constant in a Time of Economic Volatility
Now, more than ever, Americans need continued access to short-term credit. In the current uncertain economic environment, financial choices narrow, access to credit tightens and bank fees increase. Cash advances help approximately 19 million households annually manage short-term financial challenges.
In this tenuous financial landscape, consumers are contending with record overdraft, ATM, bounced-check and monthly service fees as well as reduced lines of credit. While consumers face fewer financial choices and increases in these fees, cash advances remain a steady and transparent source of short-term credit. A cash advance can sometimes be the only option available to allow consumers to regain their financial footing. At other times it is the least expensive option available.
Demand for Cash Advances
Customers choose their credit options carefully, with an eye on their own bottom-line. Access to short-term loans can help hardworking people weather unexpected expenses and difficult periods to get back on the right track.
The steady demand for cash advances reflects the financial pressures people are facing. Customers choose to use the cash advance product because it is a sensible, reliable and regulated credit product that meets short-term financial needs. We are proud to provide a reasonable option to help hardworking Americans overcome temporary financial challenges.
