William Watson
- Feb 3
- 1 min
This is how you build a successful business model for a payday loan company.
1. Develop a comprehensive business plan. A comprehensive business plan should include a detailed analysis of the current and projected...
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William Watson
- Feb 1
- 1 min
How can I ensure my loan product is competitive in the market?
1. Analyze Your Competition: Research your competitor’s loan products and their terms, rates, and fees. Try to identify their strengths...
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William Watson
- Jan 20
- 1 min
The best practices you need to know for effective customer service and communication.
1. Be Responsive and Attentive - Respond to customer inquiries in a timely and friendly manner. Address each customer's needs and...
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William Watson
- Jan 19
- 1 min
Best Practices for Sending and Receiving Payments
1. Educate the borrower on the benefits of taking out a payday loan. Provide detailed information on interest rates, repayment terms, and...
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William Watson
- Jan 17
- 2 min
Set up a Loan System that is Compliant with Federal and Provincial Laws
1. Determine the maximum interest rate you will be charging: The maximum interest rate allowed in Canada and Ontario is 60% per year. 2....
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William Watson
- Jan 16
- 2 min
What are the legal requirements for a payday loan business?
In Ontario, payday loan businesses must be licensed and comply with the Payday Loans Act, 2008. This law sets out rules for lenders,...
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William Watson
- Jan 13
- 2 min
The Times Have Changed. Have You?
As the world is rapidly changing and becoming more technology-driven, lenders need to modernize or face the real prospect of being left...
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William Watson
- Jan 13
- 3 min
Attributes of a Great Manager and How to Choose Your Champion
Good managers are essential for achieving success and a productive workplace. To be an effective leader, there are certain qualities a...
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William Watson
- Jan 13
- 2 min
Google Ads Are the Way of the Future
Google Ads are quickly becoming the go-to marketing tool for businesses of all sizes. Thanks to its ability to target specific audiences...
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William Watson
- Jan 13
- 2 min
Payday Loans Help When in a Financial Bind
Payday loans are short-term loans that provide quick and easy access to cash in times of financial need. They are often used for...
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William Watson
- Dec 27, 2022
- 2 min
Payday Lending in a Digital Era
The payday loan industry became regulated in 2008 here in Ontario. The liberal government under Kathleen Wynne regulated lenders who were...
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