‘If they were getting it {a short-term loan} anywhere else, payday lenders wouldn’t be opening as many stores,” said Steven Schlein, a spokesman for the association.

He said the proposed 36-percent cap in effect would outlaw payday loans.

”Which leaves consumers with what?” he said. ”No one else except for pawn shops, where you need to use collateral is going to make them a $300 loan.”

Not that we don’t love pawnshops.