Sources: Center for Responsible Lending, Tennessee Department of finance institutions, Times complimentary Press study
Along Ringgold path in East Ridge, you can find almost four payday loan providers for every church. A Times Free Press survey found almost five payday lenders, some of which include title-loan and check-cashing operations behind the same storefront for each traditional bank along the corridor.
It will take ten full minutes to push through the five-mile strip that is commercial begins at Missionary Ridge and concludes simply previous Interstate 75, but that quick stretch supports almost 30 payday loan providers.
For every single of Ringgold path's four food markets, there are seven personalbadcreditloans.net/reviews/blue-trust-loans-review/ lenders that are payday. The fast-cash industry -- marked by neon indications and names like Advance America, money Express and Payday USA -- outnumbers the 16 fast-food outlets nearly 2-to-1.
The growing payday industry isn't restricted to East Ridge.