While doing research on payday loans, it is shocking to realize just how prevalent they have become. Reflect for a moment upon the definition of prevalent. It means generally “accepted”, widely existing, and used. Today’s society, in their quest for all things convenient has crippled themselves by the use of fast cash. “Generally accepting” the advance loans, “using” them keeps the businesses booming, and “widely existing” means popularity. Payday loans have invaded even the smallest of areas, both aiding and crippling our economic society.

Take Northeast Texas and the surrounding area, for example. In the Atlanta, Texas yellow pages alone, there are 11 listings under loans. Of these 11 listings, 3 are obvious quick-cash businesses. With names like “Mo Money”, Cash Now, and Cash Express, one could readily understand the nature of the businesses. Payday loans were not so readily obtained and these businesses did not exist in this area even as little as two years ago. Perhaps the economic society just wasn’t ready for them yet.

In the Texarkana Metro yellow pages, of Texarkana, Texas and Arkansas, there were 51 businesses listed under loans. Of those 51 loan businesses, 12 were readily recognized as payday loan businesses. These metro yellow pages cover 26 small to medium sized towns. The largest town in the area is Texarkana, which is not even close to the size of a town like Dallas, Texas.

In the Shreveport, Louisiana yellow pages, there are a whopping 244 businesses listed under loans. Of these 244 businesses, 79 were identified with the word loan in their business name itself and 147 contained the word loan in their business information.

Of these 244 businesses, 77 were readily identified as payday loan businesses. (For those who are unfamiliar with this part of the United States, Shreveport, Louisiana, is located on the border of the Northeast corner of Texas. When moving to this part of Texas, it is quickly understood that the borders will eventually be crossed for both business and personal reasons-- hence the reason for the Shreveport area being included in this research project.)

It is obvious that these businesses are thriving when they can be found in such large numbers in even the smaller areas of our United States. They seemed to pop up everywhere overnight! In some ways they are a great advantage to our economic society because they provide more jobs, but the jobs provided are on a small scale. Maybe it depends on how you look at it. Will they disappear as quickly as they seemed to appear? It doesn’t seem that it will happen anytime soon. They offer a service that people have come to depend upon. Some say they prey upon the weak. Others recognize their added benefits. Whether you agree or disagree that they are necessary is really not a factor as to whether or not they will continue to exist. Greed and necessity both seem to work hand-in-hand to keep the payday loan business booming!

Of course, you may never find a need for a payday loan. But the bet is high that someone you know will at some point become acquainted with one. Whether they obtain work at a business that offers this service or find the need or temptation for the use of one themselves, the payday loan businesses have definitely found a place in our economic future!