LitFunding Acquires Payday Loan Company

Historical archive, first published 2006 — payday-lending laws and rates have changed since. Preserved for the record.

In a payday loan merger, LitFunding Corp. announced today that it has finalized the acquisition of Easy Money Express, Inc.

Easy Money Express is a deferred deposit, payday loan business that will continue to specialize in providing short-term cash advances to its base of consumers. The company’s Internet-based business model permits applications to be completed and submitted via the Internet. These faxless payday loan requests are processed immediately through web-based software, resulting in fast, direct deposits of cash to consumers’ checking accounts.

In acquiring Easy Money Express, LitFunding has sought a highly profitable opportunity to leverage its capital at high yields with relative safety. Morton Reed, LitFunding’s CEO, said he believes the merger will launch his company into a lucrative sector of the financial industry. The primary business of LitFunding Corp., through its subsidiary LitFunding USA, is in the funding of plaintiffs’ attorneys, primarily in the areas of personal injury.