In the workplaces of Advance America cash loan, posters telling tales of “the working mother,” “the mailman ” and “the hair stylist” expose the payday loan provider’s audience.
As traffic zoomed by on Military Highway one present Friday early morning, customers trickled in. One reduced her $500 loan and ripped within the documents, declaring “I’m done!” About a dozen others borrowed cash they stated they required, their dense workplace files showing that they had been here prior to.
Edwin Cruz, a pipefitter in the shipyard whom lives nearby, paid one loan and took down another to pay for some bills.
Elected officials and civic activists whom criticize payday financing state the companies feed off low-income residents and armed forces workers, trapping them in high-interest loans and keeping them in poverty.
But an analysis because of The Virginian-Pilot reveals the face area of payday lending is nearer to what exactly is taking place at Advance America: Lenders are targeting middle-income communities, frequently near department stores, and avoiding areas that are poor. Continue reading Without a doubt about whom utilizes loans that are payday? Perhaps maybe Not whom you might think.