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Payday loan policy and the art of legislative compromise | The …

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DENVER — De Jimenez is a single mother of three. She works in medical records and one of her children is in college. She recently took out a payday loan and she’s kicking herself, knowing she has paid about $70 to borrow $100.

“For rent,” she says of her last loan. “I get them to cover basic needs, really basic needs — food, water, shelter. They’re not for a car payment or anything like that, just to make ends meet because sometimes kids get sick. It goes back to not having paid sick days. I guess it’s a glass half full situation: If they weren’t there, I don’t know where I’d get the extra income, but at the same time, the interest rate is just so high.”

In 2010 the Colorado legislature passed payday loan consumer protections that lengthen the term of a payday loan to six months minimum from the typical two weeks — at which point a borrower has to pay that roughly $70 start-up fee to “roll over” the loan for two more weeks. The average borrower repeated that process for three to six months.

Jimenez feels more could still be done to lower the cost of payday loans, which are still about five times more expensive than credit card debt. Even so, she says the reforms made a crucial difference between just being able to manage the loans and getting caught by them.

“Before, it was like you could see a light at the end of the tunnel but it was so small it looked like a pinhole. Then you were taking out another payday loan just to pay off the first one. It was a vicious, vicious cycle,” she remembers. “At least now the light is a little brighter and the goal a little more easily attainable.”

In addition to setting minimum six-month terms for the loans, the laws also required borrowers be able to pay down the debt in installments, instead of one lump sum, and that they have the option to pay off the loan early in full without paying any fines. Since enacted, borrowers have been saving an estimated $40 million a year on what are still the most expensive loans available on the market.

Now Colorado’s law, considered a compromise between industry interests and consumer protections, may serve as a national model as the Consumer Financial Protection Bureau weighs regulations on payday loans coast to coast.

“The key lesson from Colorado is that successful reform requires tackling the fundamental unaffordability of payday loans,” said Nick Bourke, who has researched the topic for PEW Charitable Trust. “Federal regulations should require a strong ability-to-repay standard and require lenders to make loans repayable over a period of time.”

PEW’s research shows that, of the 12 million Americans who take payday loans each year, most borrowers are asking for about $375 to cover routine expenses. The loans typically are made for a period of two weeks, at which point the lump sum is due or borrowers can re-up the loan by paying the initial fee again, usually in the region of $75. But, PEW found, borrowers can rarely afford to repay the loans after two weeks, since the loan amounts typically account for a third of their take-home pay. As a result, folks end up rolling over their loans for an average of half a year, ultimately racking up “interest” rates that exceed 300 percent. The interest on credit card debt, largely considered expensive, is more like 24 percent.

Most states’ payday loan consumer protections, if they have them, focus on capping that interest rate. This approach has received some push back, with opponents saying it effectively drives payday lenders out of the regulated state. In Oregon, for example, a 2007 law capping interest at 36 percent reduced the number of payday lenders from 346 to 82 in its first year on the books.

“The question is, are those people better off without credit? Current economics hasn’t answered that question yet. Some studies say people do better, that they go to friends and family or just scrape by, others say they do worse, that they get kicked out their apartment, etcetera,” said Jim Hawkins, a law professor at the University of Houston who focuses on banking.

That concern thwarted years of attempts to pass a rate cap in Colorado and ultimately motivated the compromise bill that has garnered so much national attention, according to the measure’s sponsor, House Speaker Mark Ferrandino (D-Denver).

“We were definitely going down,” remembered Ferrandino. “We’d tried for years to get a bill passed. It failed two years in a row and was on the cusp of failing again. So we sat down with key votes in Senate and said: ‘Our goal is to end the cycle of debt. We have no problem with payday loans continuing or with people having access to capital, but let’s not let folks get caught in this cycle. If that’s our shared goal, what are policies we can do to get that done?’”

Legislators focused on affordability, extending the terms of the loans and making them payable in installments. The law acknowledged the 45 percent interest cap the state placed on all loans but is also give payday lenders ways to charge more fees so that the de facto interest rates for payday loans in Colorado now hover around 129 percent.

“Borrowers have been pretty happy with the changes to the loans. They reported that they were more manageable, that they could actually be paid off and were ultimately much cheaper,” said Rich Jones at the Bell Policy Center, who helped draft the bill.

PEW’s national research indicates that 90 percent of borrowers want more time to repay their loans and 80 percent say regulation should require those payments to be affordable — more like 5 percent of a borrower’s monthly income than 33 percent.

Colorado’s bill did end up taking a big bite out of the payday loan industry in the state, halving the number of stores and reducing the total number of loans from 1.57 million a year before the law to 444,000 per year. Even so, supporters of the bill note that the industry fared better in Colorado than it did in other regulated states and that borrowers’ overall access to lenders went largely unchanged.

“It was not uncommon to go to parts of Denver and see a payday lending store on all four corners of a busy intersection,” said Jones. “Now maybe there’s just one or two stores in a block instead of four or five.”

“The fact that we had more payday loan stores than Starbucks didn’t make sense,” quipped Ferrandino.

“Seventy percent of the population still lives within 10 miles of a payday loan store and that figure is roughly the same as under the old law,” said Jones.

Under Dodd-Frank federal law, the CFPB does not have the authority to set the interest rate caps other states have used to regulate payday loans. They can, however, take a leaf out of Colorado statute and require that lenders give borrowers the option to pay down the loans over an extended period of time. In fact, the CFPB could go even further and require that those payments meet an affordability standard based on the borrower’s income.

Bourke says PEW wants to see the CFPB make these kinds of changes in their next round of rulemaking and notes that the agency’s own studies indicate they’re moving that direction.

“They see there’s tremendous evidence of the problems and potential harm in this market and they intend to do something about it,” said Bourke. “I think there’s a good chance they’ll put in the repayment standard.”

Bourke isn’t the only one with his eye on the CFPB. Folks in the academy are also closely watching the issue.

Hawkins noted that while Texas has very minimal regulations on how much lenders are allowed to charge for payday loans, they’ve tried alternative routes to protecting consumers based on behavioral economics. In Texas, lenders are required to tell borrowers how long it usually takes for people to repay the loans and to provide direct cost comparisons to the same loan taken on a credit card.

“To me that’s an exciting innovation that doesn’t hamper the industry, but still ensures that folks are educated,” said Hawkins, adding that initial research indicates the information does impact borrowers’ decisions.

Hawkins also noted that Colorado’s law hit the industry in fairly specific ways — namely, it vastly reduced the number of small, local lenders. PEW research backs this up. Before the law was passed, large lenders owned just over half the stores in Colorado. Today they own closer to 75 percent.

“It’s just another policy choice. Do you want to only have big companies?” asked Hawkins, noting that the CFPB has made a point of focusing on small businesses.

In all likelihood, the CFPB will be working on this issue for much of the next year, which means they’ll be making these rules while Republicans, who will take control of the Senate next session, continue to chip away at the agency’s authority.

To that end, there might be more to learn from Colorado than policy alone.

“There’s this attitude in Colorado when it comes to policy issues that you don’t have to go all the way or have nothing at all, that you can come up with meaningful compromise,” said Ferrandino. “I think what we were able to do here proves that what the CFPB is looking at is reasonable.”

[Photo by Tom Magliery]

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Home Loan Arranger, Jason M. Ruedy Discusses Dilemma of Competing for Home Purchases with All-Cash Buyers


The Home Loan Arranger

Don’t Put Your Loan in Danger; Call the Loan Arranger

Denver, Colorado (PRWEB) June 26, 2014

The Home Loan Arranger, mortgage lender Jason M. Ruedy, realizes the difficulty non-all-cash potential home buyers are experiencing in certain real estate markets as they compete with all-cash buyers.

An article published on on June 6, 2014, entitled “How to Beat Out All-Cash Home Buyers,” stated that the increase in all-cash deals has created difficulties for high-end home buyers who plan to use a mortgage to win bidding wars. Many non-all-cash buyers are turning to lenders who are able to close loans quickly or offer a range of financing options.

“The article on specifically talks about cities such as Miami, Las Vegas, and New York – where all-cash deals have become extremely common over the past few years. Unfortunately, I have seen some of my clients in Colorado and Pennsylvania lose to all-cash bidders on homes that they really wanted. It’s disappointing when this happens, and I truly feel regret ever time – even though nobody is really to blame.” – Jason M. Ruedy, The Home Loan Arranger

According to the article, there are a few things that potential homebuyers can do if they are planning to purchase a home with financing and are discouraged that their offers might not win against all-cash bidders:

1) Be patient – not all cash bids actually result in closed sales; 2) Be flexible – make an offer to purchase more attractive by obtaining home equity lines of credit on other properties or coming up with a larger than 20 percent down payment via other means; and 3) Be aware of current real estate market conditions – if a real estate agent says that a piece of real estate is only going to be sold to an all-cash bidder, don’t waste time on it.

“In a highly competitive real estate market, it’s essential that potential home buyers work with extremely organized and competent mortgage lenders who are willing and able to close loans quickly. I always bend over backwards for my clients to make sure they have the best shot possible at purchasing the property they want.” – Jason M. Ruedy, The Home Loan Arranger

About The Home Loan Arranger:
Mr. Jason M. Ruedy, also known as The Home Loan Arranger, has 20+ years of experience in the mortgage business. His company was built around the crucial principles of hard work, discipline, and determination. The Home Loan Arranger evaluates client applications quickly and efficiently and structures loans with the best possible terms. Mr. Ruedy is successful in achieving loan closings for clients while meeting their highest expectations. Jason M. Ruedy is ranked #2 in the state of Colorado by Scotsman Guide, which is the top leading resource for mortgage originators.

For media inquiries, please contact Mr. Jason M. Ruedy, “The Home Loan Arranger”:

The Home Loan Arranger
512 Cook St #100
Denver, CO USA
Phone: (303) 862-4742
Toll Free: (877) 938-7501


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Guaranty Bancorp Announces Quarterly Cash Dividend

DENVER, CO–(Marketwired – May 7, 2013) – Guaranty Bancorp (NASDAQ: GBNK), a community bank holding company based in Colorado, today announced that its Board of Directors has declared a quarterly cash dividend to its stockholders. This is the first cash dividend paid to stockholders in the Company’s history.

The cash dividend of $0.025 per common share is payable on May 31, 2013 to stockholders of record as of the close of business on May 28, 2013, and is on a split-adjusted basis taking into account the Company’s previously announced 1-for-5 reverse stock split. The reverse stock split is expected to take effect after the close of trading on May 20, 2013, with Guaranty Bancorp common stock beginning to trade on a split-adjusted basis at the opening of the trading market on May 21, 2013.

“We are pleased to initiate a quarterly cash dividend for our stockholders,” said Mr. Paul W. Taylor, President and CEO. “We expect to continue the payment of quarterly cash dividends and further enhance the value we provide to our stockholders.”

About Guaranty Bancorp

Guaranty Bancorp is a bank holding company that operates 28 branches in Colorado through a single bank, Guaranty Bank and Trust Company. The bank provides banking and other financial services including real estate, construction, commercial and industrial, energy, consumer and agricultural loans throughout its targeted Colorado markets to consumers and small to medium-sized businesses, including the owners and employees of those businesses. The bank also provides wealth management services including private banking, investment management and trust services. More information about Guaranty Bancorp can be found at

Forward-Looking Statements

This press release contains forward-looking statements, which are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of such terms and other comparable terminology. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: failure to maintain adequate levels of capital and liquidity to support Company’s operations; general economic and business conditions in those areas in which the Company operates; demographic changes; competition; fluctuations in interest rates; continued ability to attract and employ qualified personnel; ability to receive regulatory approval for our bank subsidiary to declare dividends to the Company; adequacy of our allowance for loan losses, changes in credit quality and the effect of credit quality on our provision for credit losses and allowance for loan losses; changes in governmental legislation or regulation, including, but not limited to, any increase in FDIC insurance premiums; changes in accounting policies and practices; changes in the deferred tax asset valuation allowance; changes in business strategy or development plans; changes in the securities markets; changes in consumer spending, borrowing and savings habits; the availability of capital from private or government sources; competition for loans and deposits and failure to attract or retain loans and deposits; changes in the financial performance and/or condition of our borrowers and the ability of our borrowers to perform under the terms of their loans and other terms of credit agreements; political instability, acts of war or terrorism and natural disasters; and additional “Risk Factors” referenced in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as supplemented from time to time. When relying on forward-looking statements to make decisions with respect to the Company, investors and others are cautioned to consider these and other risks and uncertainties. The Company can give no assurance that any goal or plan or expectation set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. The forward-looking statements are made as of the date of this press release, and the Company does not intend, and assumes no obligation, to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.


Contact Information

Christopher G. Treece
E.V.P., Chief Financial Officer & Secretary
Guaranty Bancorp
1331 Seventeenth Street, Suite 345
Denver, CO 80202


Payday Loans Denver | No Credit Check Loans

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Payday Loans Denver – Click the Link to Apply Now When life happens, it’s good to know there’s help. payday loans Denver lenders are available now to help you with your sudden cash crisis […]

Christmas Payday Loans Online – Apply for and Compare "Stocking Filler" Loans

DENVER, Dec. 17, 2012 /PRNewswire/ —, the leading McAfee Secure™ certified emergency loan comparison site, announces the launch of its Xmas payday loan online service. With only a few shopping days left until Christmas is in full swing, many consumers are looking towards fast ways to give their flailing bank balances an 11th hour boost. The heat is on for consumers to complete their gift purchases, stock up on food for the family and still have enough cash to ensure that utilities are covered for the entire festive period.

A cash advance can be a time-efficient, convenient and effective way to meet all of those expenses in one fell swoop, without needing to leave home or work. By visiting and completing a brief online application that takes less than 2 minutes to fill out, individuals can apply for and compare loans from a wide variety of online cash advance providers.

Following approval and acceptance of a loan, all of the featured companies are able to accelerate payouts within a couple of hours to a maximum of 24 hours later. This leaves borrowers free to continue with their Christmas celebrations safe in the knowledge that all of the expenses associated with the holiday can be comfortably paid for. As for repayment of the loans offered from the lenders, this is collected via direct debit on the next payday.

A spokesperson for, Sam Eshkenazi, made the announcement.

“As a gift to customers both old and new, we would like to introduce our stocking filler loan service. This has been created to help stretch salaries over the festive period and enable individuals to finish their last minute Christmas preparations by obtaining fast extra cash.”

Eshkenazi continued, “We have hundreds of reputable lenders on standby waiting to say yes to pay day loans. All information provided is confidential and there are no checking checks involved. We invite consumers to drop by our website to use the service for free to find the best rated loan for any purpose. Merry Christmas from all of us at!”

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[…] » How To Use Online Payday Loans The Correct Way

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Are you currently stuck in the fiscal jam? Do you need dollars in a hurry? If so, then the payday advance may be beneficial to you. A payday advance can make sure that you have the funds for when you really need it and then for what ever goal. Before you apply to get a payday advance, you need to most likely look at the following post for several suggestions that may help you.

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Be sure to have a close eyes on your credit score. Try to examine it no less than yearly. There may be irregularities that, can drastically problems your credit history. Having bad credit will negatively influence your interest rates on your own payday advance. The greater your credit history, the low your interest.

Call about and learn interest rates and costs. Most payday advance organizations have related costs and interest rates, however, not all. You could possibly save 15 or fifteen dollars on your own loan if a person company supplies a reduce interest. If you often get these loans, the savings will prove to add up.

Make certain you can actually afford a payday advance. Whenever you acquire the loan cash, you must provide the payday loan company using a examine, or authorization for your full amount of the financing, interest, and costs. Consequently in a few weeks, the lending company either cashes your examine, or in electronic format withdraws the amount through your checking account. If the cash is not available, you will get success by some hefty charges, so that it is even more challenging to pay back the financing.

Be sure to keep current with any tip changes in terms of your payday advance loan company. Legal guidelines is always becoming approved that changes how loan companies may operate so ensure you comprehend any tip changes and exactly how they impact you and the loan before signing a contract.

Should you need a payday advance to get a monthly bill which you have not been able to pay on account of lack of dollars, speak to those you need to pay the cash first. They may permit you to pay delayed as opposed to remove a very high-interest payday advance. In most cases, they will assist you to make the repayments in the future. Should you be relying on payday loans to get by, you can find hidden in debt rapidly. Understand that you can explanation with your creditors.

Do not grow to be determined by payday loans, as attractive as it might get. They ought to be viewed as a crisis-only resource and not an extension of your own typical salary. Conditions could get tough and costs run great use them sensibly and as a signal that you just most likely should get your fiscal property to be able shortly.

Many people make the error of attempting to seal their accounts so that they can run away from repaying the payday advance company. Although this may appear attractive, will not do that. The company can sue you if you that, and you will probably end up being dragged through the courtroom and owing a lot more than you will have should you paid for them again legitimately.

Just before in, recognize that payday loans are not an effective utilization of your hard earned money. If you have some other (authorized) choice rather than payday advance, take into account that course alternatively. Payday cash loans involve extremely great costs, and interest rates that can do much more damage to your current individual finances than very good. Only use payday loans as choice of last resort.

If you comprehend the very idea of using a payday advance, it might be a handy device in certain situations. You ought to be likely to look at the loan commitment carefully before signing it, and if there are actually questions about any one of the demands demand clarification of your phrases prior to signing it.

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Prior to applying for a payday advance, ensure it is possible to spend it again following the loan word stops. Generally, the financing word can stop after only about fourteen days. Payday cash loans are merely for individuals who will pay them again rapidly. Be sure to is going to be obtaining paid for at some point immediately before you apply.

Ensure you probably know how much more costs you incur, if you choose to “roll-over” the loan. You may be thinking you will be supplying on your own more hours to spend the financing again, however you are also incurring much more costs on your own bank account. Request what costs are involved, in the roll-over prior to deciding to do one particular.

As observed before, fiscal mayhem can bring pressure like few other activities can. With a little luck, this information has supplied you with the information you need to help make the best decision about a payday advance, and also to aid on your own out of your financial predicament you will be into much better, much more prosperous times!

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Make every single try to get rid of your pay day loan punctually. When you can’t pay it back, the loaning organization may possibly make you rollover the borrowed funds into a fresh one. This a different one accrues their own group of fees and finance charges, so technically you happen to be paying those fees twice for the same funds! This is usually a severe deplete on the bank account, so intend to spend the money for loan off of quickly.

Payday loans tend to be appeared downward with by many people people the economic sector. This is because they often fee higher attention, and have a lot of fees related to them. When you examine the business you want to borrow funds from, you may get the cash you require rapidly at a acceptable expense.

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Leverage the proven fact that around 15 1000 paycheck loan companies are present. Some could possibly be ethically ambiguous, and those giving the industry a poor status. Numerous others are legitimate businesses that do stuff ethically, and legally. Get on the internet, and look for testimonials, blog sites, and discussion board posts by past paycheck individuals, to quickly find out who does stuff best for their clients.

Before you take the dive and choosing a pay day loan, take into account other sources. The rates of interest for payday cash loans are higher and when you have better alternatives, attempt them initial. Determine if your family members will loan the funds, or use a traditional lender. Payday loans should certainly be a final option.

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Revenue-Based Financing Offers a Flexible Route for Cash

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Six years after founding YogaDownload, Jamie Kent was stuck. Her Denver-based company could pay its bills, but she needed cash to create new classes and attract customers. She was beyond using her credit card, and the bank loan terms she saw were Draconian.

“I only needed a small injection of money to get the ball rolling, without the fear of heavy payment terms,” Kent says. An online search for “small-business financing” led her to revenue-based financing (RBF). “It seemed like a perfect way to cash-strap my company,” she recalls.

RBF loans have been common for years in industries ranging from film production to drug development. Now with banks keeping their belts tight, the concept is gaining traction among startups.

Instead of requiring a fixed-interest payment every month, an RBF loan provides capital in exchange for a fixed percentage of gross monthly revenue. Thus, if the company has seasonal or hard-to-predict cash flow, the payments adjust accordingly.

“Our value proposition is that there’s no equity dilution, no loss of control,” says Andy Sack, founder of Lighter Capital in Seattle, which gave Kent her loan. While RBF interest rates are typically higher than those at a bank, a business doesn’t have to put up collateral or give up an ownership stake (as it would with investors). The risk, as with any loan, is that delinquency means losing your business. “But compared to banks, we provide more capital to succeed,” Sack says.

Average RBF loans range from $50,000 to $250,000, with annual interest rates between 18 and 20 percent and payment terms within three years. There are no background or credit checks.

After applying for an RBF through Lighter Capital last winter, Kent had money wired to her bank account within two weeks. While she won’t disclose the loan amount or interest rate, Kent did say that each month she calculates 9 percent of her revenue and e-mails the paperwork to the firm, which debits that amount from her account. “I didn’t borrow a lot, but it helped so much, giving me more flexibility in what I could do,” she says.

Sack says he wants to finance businesses with revenue from $500,000 to $3 million, annual growth rates of at least 15 percent and margins of 50 percent or higher. This mainly means niche companies, such as those in specialty technology and light manufacturing. Businesses with low margins and major infrastructure needs, like restaurants or big factories,
are not likely candidates for RBF loans.

But interest in RBF is growing, even among Fortune 500 companies. “A company at any stage can benefit from this type of financing,” Sack says. “The main thing holding it back is market education.”


First Cash to Acquire 16-Store Chain of U.S. Pawn Stores; Increases Presence in Rocky Mountain Region to 33 Large …

ARLINGTON, Texas, Aug. 16, 2012 (GLOBE NEWSWIRE) — First Cash Financial Services, Inc. (FCFS) today announced that it has entered into an agreement for the purchase of a 16-store chain of pawn stores located in the Denver, Colorado area. The 16 locations, which operate under the “Fast Cash Pawn” brand, are all large format, full-service pawn stores.

Rick Wessel, chief executive officer of First Cash, stated, “We are pleased to announce the Fast Cash acquisition. It will further expand our U.S. store base and will significantly deepen our geographic presence in the Rocky Mountain markets. Fast Cash is a well-established operation with large pawn balances, significant market share and strong brand awareness in the Denver metro area. Coupled with our recent acquisition of Colorado-based Mister Money, we will now have a total of 33 large format pawn locations in Colorado, Wyoming and western Nebraska. This acquisition is consistent with our long-term growth strategy and we expect it to be accretive to earnings in 2013.”

The purchase price for this acquisition is approximately $46 million, $8.5 million of which will be paid through the issuance of five year notes payable to the selling shareholders, with the balance to be paid in cash at closing, subject to standard working capital adjustments. The operations and earnings of the acquired Fast Cash stores will be consolidated into First Cash effective with the closing of the transaction, which is expected to occur later this year, subject to the satisfaction of customary closing conditions. The Company expects transaction and integration costs associated with the acquisition to be approximately $0.02 to $0.03 per share.

Store Count Update

The Company has added 127 new locations thus far in 2012, which includes the 16-store Fast Cash acquisition, a 24-store U.S. acquisition in June, a 29-store acquisition in Mexico in January, 50 new stores opened in Mexico and eight other new or acquired stores in the U.S. Accordingly, the Company is now planning for fiscal 2012 store additions to be in a record range of 140 to 145 total locations, which represents a 21% increase in the consolidated store count since the beginning of the year.

Credit Facility

The Company also announced that it has received preliminary commitments from its current lenders and three additional bank lenders to expand the scope and size of the Company’s revolving unsecured credit facility from $100 million to $175 million. The expected new five-bank facility will mature in 2015 and bear interest at the prevailing LIBOR rate plus a margin of 2.0%. The Company expects to close on the new facility in the third quarter of 2012.

“The overall strength of the Company’s balance sheet and strong operating cash flows continue to provide First Cash with significant strategic flexibility. The increased credit facility will provide additional resources to support continued earning asset growth and store expansion activities,” commented Mr. Wessel. The Company currently has a total of $66 million outstanding on its existing credit facility.

The First Cash Financial Services, Inc. logo is available at

Forward-Looking Information

This release may contain forward-looking statements about the business, financial condition and prospects of the Company. Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of forward-looking terminology such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” or “anticipates,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Forward-looking statements can also be identified by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward-looking statements in this release include, without limitation, the Company’s expectations for closing of the announced transactions, earnings and expenses related to acquisitions, the ability to successfully consummate and integrate acquisitions, projected store additions, cash flow and balance sheet expectations and other performance results. These statements are made to provide the public with management’s current assessment of the Company’s business. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, there can be no assurances that such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this release speak only as of the date of this statement, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this release. Such factors are difficult to predict and many are beyond the control of the Company and may include changes in regional, national or international economic conditions, changes in the inflation rate, changes in the unemployment rate, changes in consumer purchasing, borrowing and repayment behaviors, changes in credit markets, the ability to renew and/or extend the Company’s existing bank line of credit, credit losses, changes or increases in competition, the ability to locate, open and staff new stores, the availability or access to sources of inventory, inclement weather, the ability to successfully integrate acquisitions, the ability to hire and retain key management personnel, the ability to operate with limited regulation as a credit services organization, new federal, state or local legislative initiatives or governmental regulations (or changes to existing laws and regulations) affecting consumer loan businesses, credit services organizations and pawn businesses (in both the United States and Mexico), changes in import/export regulations and tariffs or duties, changes in anti-money laundering regulations, unforeseen litigation, changes in interest rates, monetary inflation, changes in tax rates or policies, changes in gold prices, changes in energy prices, cost of funds, changes in foreign currency exchange rates, future business decisions, public health issues and other uncertainties. These and other risks, uncertainties and regulatory developments are further and more completely described in the Company’s Annual Report on Form 10-K and updated in subsequent releases on Form 10-Q.

About First Cash

First Cash Financial Services, Inc. is a leading international specialty retailer and provider of consumer financial services. Its retail pawn locations buy and sell a wide variety of jewelry, electronics, tools and other merchandise, and make small customer loans secured by pledged personal property. The Company’s focus is serving cash and credit constrained consumers through deep value retailing and offering small loans and other financial products. Including the stores from the Fast Cash acquisition, the Company owns and operates 804 stores in twelve U.S. states and 24 states in Mexico.

First Cash was named by Fortune Magazine as one of America’s 100 fastest growing companies for 2011. First Cash is also a component company in both the Standard & Poor’s SmallCap 600 Index(R) and the Russell 2000 Index(R). First Cash’s common stock (ticker symbol “FCFS“) is traded on the Nasdaq Global Select Market, which has the highest initial listing standards of any stock exchange in the world based on financial and liquidity requirements.


Gar Jackson
Phone: (949) 873-2789
Rick Wessel, Chairman and Chief Executive Officer
Doug Orr, Executive Vice President and Chief Financial Officer
Phone: (817) 505-3199