Market Recognizing Value Of Cash Now's FDIC Banking Services

Cash Now Corporation's FDIC banking services, which enable payday loan businesses to expand their customer bases and revenues while reducing risks, are generating "significant" interest in the marketplace, company officials say.

"We're gratified to be able to report a significant uptick in interest," said Andrea Zecevic, Cash Now's president. "It's all taking root."

Cash Now's FDIC bank affiliation program gives payday lending companies the ability to operate under an FDIC bank charter, equipping them with significant advantages over their competition. For example, many payday lending companies decline to risk lending money to potential customers who lack bank accounts. But those with an FDIC bank charter can open a bank account for that customer, making the transaction safer and exposing the business to many more potential customers. Additionally, some states require a bank charter when conducting face-to-face loans.

Companies that lend money on a face-to-face basis under an FDIC bank charter are lending the bank's money, not their own capital. This virtually eliminates risk, since the bank is solely responsible for collecting its money. Additionally, an FDIC bank charter provides instant credibility.

Cash Now Background
Cash Now Corporation, a pioneer in the payday loan industry, is developing the most comprehensive menu of services in the cash advance industry, all centered on the Cash Now brand. The company's proven business model includes licensing to corporately operated and joint venture locations across the U.S. and Canada. Additionally, Cash Now's Web site is the most advanced payday lending portal, offering key insight clients and potential clients alike.

Cash Now offers a payday loan license program, Payday Express, and a payday loan and check cashing license known as Check Express. Profit Guide magazine recently ranked the Cash Now Group 10th in its list of the 50 fastest growing and most promising emerging companies.

More information about Cash Now Corporation and opportunities associated with owning a Cash Now location are available at www.cashnow.com.

Forward-Looking Statements
Information in this press release contains "forward-looking statements." Statements describing objectives or goals or the company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the company and market valuations of its stock, which could cause actual results to differ materially from those anticipated.

Forward-looking statements in this news release are made pursuant to the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Cash Now's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Cash Now's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.

Copyright © 2008, Eworldwire, Eworldwire
Copyright © 2008, NewsBlaze, Daily News

Tags: Internet, banking, business, asset-based, finance, development, borrowing, loan,,,

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