Advance America’s perspective
November 10, 2008 | COHHIO, South Carolina, Spartanburg Herald Journal, industry, industry critics, regulation, states | Comments (0)From a story in the Spartanburg (S.C.) Herald, Advance America’s hometown newspaper:
In an effort to continue serving customers in Ohio, Advance America has obtained small-loan licenses from the Department of Commerce for its 244 centers in Ohio. The company intends to offer a small loan product, under the Ohio Small Loan Act, at interest rates below the state’s usury cap, and check cashing and other services in compliance with applicable law in all Ohio centers.
“Our hope is to continue operating in Ohio,” Fulmer said. “We don’t want to lay off anyone, especially with the holidays coming up. But we will determine later if it’s an economically viable way for us to continue operating.”
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