Whenever LendMark started providing subprime money so you can California citizens several years ago, they noticed things strange: a huge and you may increasing amount of huge finance offered by rival agencies from the rates of interest away from one hundred% or more, and seemingly couples quicker, reduced finance.

So you can executives at the residential district Atlanta team, and this entered the official by buying financing storefronts out-of an opponent, they did not sound right.

“In the most common states, less dollar funds tend to have a small high Annual percentage rate and you will big funds provides a little down Annual percentage rate,” told you Chris McKinley, an older vice-president during the business.