You will find now more lending that is payday in the U.S. than here are Starbucks outlets.
Into the city of Logan, Utah, in a strip mall close to an audiology hospital and television store, there is a storefront that is little. In a life that is past had been a bank branch; today, it is where Michael Berry works. He is a payday lender, and every time individuals appear in and borrow cash from him.
“Our loan is $1.50 per hundred per day, therefore after 5 times, $7.50,” Berry states. ” It could be $107.50 is really what they owe right back.”