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| Company type | Private/Employee Owned |
|---|---|
| Industry | Consumer Lending |
| Founded | June 2010 [1] Savannah, Georgia |
| Headquarters | , |
Number of locations | More than 900 Stores (January, 2023) |
Area served | Alabama, Arizona, Delaware, Florida, Georgia, Idaho, Kansas, Mississippi, Missouri, Nevada, New Mexico, South Carolina, Tennessee, Texas, Utah, Wisconsin[2] |
| Products | Title Loans, Title Pawn, personal loans |
| Services | Alternative financial service |
| Revenue |  US$ 389.4 million (2010) [3] |
| US$ 81.7 million (2010) [3] | |
| Owner | Tracy Young |
Number of employees | 3300+ (2012) |
| Subsidiaries |
|
| Website | www |
TMX Finance is an American company that provides consumer loans and payday loans through its subsidiaries including TitleMax, TitleBucks, EquityAuto Loan, SpeedyCash.com, Community Choice Financial and InstaLoan. The company holds more than 900 stores in over fourteen states including Alabama, Arizona, Delaware, Florida, Georgia, Mississippi, Missouri, Nevada, New Mexico, South Carolina, Tennessee, Texas, Utah, and Wisconsin, and an online presence in Idaho.[2] TMX Finance’s brands serve individuals who generally have limited access to consumer credit from banks, thrift institutions, credit card lenders, and other traditional sources of consumer credit.[3]
TitleMax markets easy cash to borrowers with “good credit, bad credit, or no credit” secured by the title to their car. In Dallas, San Antonio, and Austin – which have all passed lending laws – those loans have come with zero percent interest.
After 30 days, however, the loan is due in full. If the borrower cannot pay –TitleMax’s average loan is for $1,300 – the borrower is sent to another TitleMax location outside of the city, where he or she can receive a new, unrestricted loan. The borrower would be free to renew the loan at that location indefinitely. That loan, states a contract given to one borrower, could have an annual rate as high as 310 percent.[4]
TMX is owned by Tracy Young of Savannah, Georgia.[5]
- ^ "Form 10-Q". www.sec.gov.
- ^ a b "Form 10-Q". www.sec.gov.
- ^ a b c "Amendment No. 2 to S-4". www.sec.gov.
- ^ "To Dodge Law, High-Cost Lender Offers Cash for Free". ProPublica. ProPublia. 2013-09-03.
- ^ "Tracy Young: Executive Profile". Bloomberg. Bloomberg L.P. Retrieved August 8, 2016.