Demand for Online Payday Loan Marketing Tool on the Rise

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

Need another sign that the payday loan business is booming? Despite being outlawed in certain states, the cash advance industry is experiencing rapid popularity growth. A strong indicator of this fact is the growing demand for LeadClick Media.

This San Francisco-based internet lead generation firm is a pioneer of performance-based, cost-per-action marketing solutions. It reports that lender demand for its marketing services that generate online payday loan leads is reaching a fevered pitch.

LeadClick Media has helped payday loan lenders expand their business in order to serve those customers who need emergency, faxless payday loans, but may have too much pride to enter a traditional brick and mortar check cashing store.

"The convenience and anonymity of the Internet application process for a [faxless] payday loan has opened up a new segment of the U.S. population that can benefit responsibly from cash advance loan services" says Robert Afshar.

Fueled by the economy, a gap in traditional lending services and savvy marketing that leverages the consumer trend to conduct financial business online, micro loans (a.k.a., payday advances and payday loans) have nearly quadrupled in the past four years to a $40 billion industry. According to a Marketdata Enterprises report, the payday loan industry serves more than a quarter of the U.S. population. This phenomenon is a result of a growing number of people who require periodic financial assistance and a new generation of lenders who can meet that demand.

"Since 2002, LeadClick Media has served our clients needs for advanced online marketing strategies that produce targeted, highly qualified new payday loan leads (customers)" said Afshar.