Payday Loan Chain Now Offering Larger Loans to Clientele

BHM Financial Group, a financing company specializing in secured bad credit loans, providing car title loans, mobile home and RV refinancing, is announcing their new affiliation with Payday Loan Chain The Money Stop, a Payday loan chain with locations in Alberta and British Columbia. As a result of this new relationship, The Money Stop is now able to offer larger, more flexible rates and terms, and loans to individuals with bad credit or even no credit in addition to their standard loans and services.

Molly Wider, Regional Loan Manager for BHM Financial explained the reason behind this new affiliation, “The Money Stop is a respected chain of Payday Loan Stores that until now were only able to finance smaller amounts with shorter lending terms. Because The Money Stop is offering financing through BHM, they are now able to offer their clients larger loans with more flexible rates and longer repayment terms regardless of the client’s credit history. This will permit The Money Stop to gain new business they might have otherwise lost due to not having the capability of offering these types of loans. BHM gains the added business brought in by individuals seeking loans from trusted local lenders.” She continues, “People don’t always feel comfortable applying for a loan online, and BHM has most of our application business on-line. Some clients might feel more comfortable applying in person, with a trusted local lender, and we are extremely pleased to be able to offer this service through The Money Stop. Through them, we can offer the more personalized, one on one service that we at BHM were previously unable to accommodate.”

In the past, payday lenders were only able to advance small sums, amounting to only a percentage of the client’s paycheque. In addition, repayment was due on the client’s payday with little flexibility in repayment terms. Now, due to its affiliation with BHM, The Money Stop will be able to offer car title loans from $1,000 to $10,000 with flexible repayment terms anywhere from 1 to 4 years in length. These new loans are called car-title loans and they are primarily given to individuals who cannot attain financing through standard financial institutions due to bad credit or no credit. The loans are secured based on the equity in the borrower’s vehicle and because of this security, the loans are awarded regardless of the borrower’s credit history.

The Money Stop will continue to offer all of the loans and services they previously offered and will simply add BHM’s car-title loans and mobile home and RV refinancing to their offerings. BHM assures that The Money Stop’s clients will observe the same fast and easy loan process as they have always experienced. Car-title loans can be approved in hours and funded in less than 24 hours and the process can all be completed at The Money Stop’s 2 Fort McMurray locations, as well as its Grand Prairie and Whitecourt locations in Alberta, and at their Fort St. John location in British Columbia.

BHM Financial Group is expanding throughout Canada and is currently accepting the registration of additional Payday Loan Affiliates. For more information about the affiliate program, or BHM Financial’s car-title loans, they can be found on the web at http://www.bhmfinancial.com.