The name loan industry is fragmented, with a large number of players including tiny mom-and-pop areas to nationwide operators with tens and thousands of places.
The name loan industry is fragmented, with a large number of players which range from little locations that are mom-and-pop nationwide operators with 1000s of areas. It really is hard to track them since most are independently held. Additionally they usually hide behind “dba” entities. But below are a few regarding the larger players:
TMX Finance: Headquartered in Savannah, Ga., TMX could be the title-lending industry’s player that is biggest, operating almost 1,500 shops in 18 states as TitleMax. The 17-year-old business has had financial difficulty of the very very own: TitleMax filed for Chapter 11 bankruptcy in ’09 with regards to could not pay off a $165 million loan from Merrill Lynch. The reorganized business exited bankruptcy almost a 12 months later on and it has significantly more than doubled its shop count since. Other brands it offers under include TitleBucks, EquityAuto Loan and InstaLoan. It offers a lot more than 4,300 employees nationwide. Read More …