Fast Cash Loan Company Acquired in California
California Check Cashing Stores and Golden Gate Capital, a San Francisco-based private equity firm with $3.4 billion under management, today announced the acquisition of Fast Cash Stores, Inc.
Fast Cash, based in San Jose, CA, provides payday advance, check cashing, and other financial services to its customers.
The combined company will have more than 90 retail locations across northern California. Terms of the deal were not disclosed.
“The transaction creates the leading provider of check cashing and [no faxing payday loan] services in Northern California”, said Richard Lake, CEO of California Check Cashing Stores. “Customers should expect the same high levels of customer service and will benefit from enhanced offerings with even greater geographic coverage.”
“Both California Check Cashing Stores and Fast Cash have a strong history of great customer service,” said James Ball, President of Fast Cash, Inc. “The combination allows us to continue providing our customers with great service with even more convenient locations.”
“We are excited to continue to support California Check Cashing Stores as it further executes on its growth initiatives, both organic and through acquisition,” said Jesse Rogers, Managing Director at Golden Gate Capital.
California Check Cashing Stores, LLC is a leading retailer of alternative financial services including check cashing, short-term loans, wire transfers and bill payment services. The Company focuses on serving consumers seeking alternatives to traditional banking relationships in order to gain convenient and immediate access to cash.