Payday Lending
We are Canada's ONLY payday loan consultancy. We have 15+ years experience in loans, credit, debt and collections. Enjoy a one-stop shop for your payday loan and cheque cashing business needs.
Digital Lending
Receive more loan applications with ease.
The entire world is becoming digital faster than ever. Every industry is pivoting as quickly as they can to adapt and embrace new technologies. Consumers use their mobile devices for everything. This includes managing their banking and other credit products. While many consumers still rely on brick-and-mortar payday loan stores for their borrowing needs, there is a huge shift towards borrowing online. For many in-store borrowers, they borrow in-store then continue to "re-borrow" online. Let us create a new website that delivers loan applications along with the required supporting documents directly to your email inbox or loan software.
Instant Bank Verification
More information right at your fingertips.
We use an advanced bank verification system which enables you to instantly verify an applicant's banking information online and in real-time. Reduce the risk of fraud and expedite the application process for loan applicants. This is a great tool to gather new information on delinquent customers to obtain payment or enforce a court judgment.
Loan Underwriting
Invest less capital and maximize your profits.
How do you determine whether or not to fund a loan application? We have developed proprietary loan underwriting rules that were crafted over more than a decade. Save months of trial-by-error and tens of thousands of dollars and use our proven loan adjudication process. Fund good low-risk loans, minimize your collections work and maximize your profit margin.
Licensing
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Avoid the hassle of dealing with regulatory red tape.
If you are new to the industry let us complete the licensing process for you. If you are an existing payday loan business owner we can complete your annual renewal paperwork or file for additional provincial licenses so you can expand your market. We can also help you with compiling and filing your annual report. Received an audit notice? We can help with that, too! We are in touch with the regulatory bodies regularly and can expedite the process for you.
Banking
Conduct your payday and cheque cashing transactions stress-free.
One of the biggest challenges for any cash advance/cheque cashing company is being able to secure the proper banking platforms to operate your business. We have developed our business network such that we can secure banking for your operating account, payday lending account and cheque cashing account. We take care of all of the compliance paperwork for you. We'll even help you in the event you receive a compliance audit. Looking to get set up with a cash management service to delivery money directly to your business? We do that, too!
Loan CRM Software
Keep track of your loan agreements like a pro, for less. No more Quickbooks or Excel!
Use software that is modern, secure and never experiences any downtime. Digital Pipeline is a company that we co-founded. All of the widgets you need to run your business, all integrated into one single CRM platform that is easy to use. Enjoy monthly rates as low as $79. Manage your sales pipeline and monitor your loan book with ease. Leverage integrated instant bank verification at the click of a mouse. For lenders looking for automation to reduce the workload, we have that too! Effectively manage your customer database and update information easily. We make reporting easy with standardized reports for you to stay on top of your loan book. Charge penalties, offer rebates and track your payments. Stay on top of your loans coming due. Email your customer directly from the CRM payment reminders to your borrowers via SMS Push Notification. Set and manage customer loan limits and more. Accessible from your mobile device so you can manage your business on the go. For enterprise clients, ask us about our automated software platform. Reduce errors, payroll costs and bad debt.
Accounts Receivable Management
Stay on top of your customers to ensure you get paid. Learn what to do when customers do not pay.
In the lending business it is crucial that you manage the customer relationship such that the payment is made on time and the customer borrows again. We can teach you the best practices to ensure customers are reminded of their payment due date. Receive loan payments on time. Learn how to convince a customer to pay without damaging the relationship. Repeat business is critical in this industry. Learn how to recover money from delinquent customers quickly and in compliance with your regulator. Let us create a collections treatment path that brings money back in to your business.
Become an Absent Owner
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Enjoy the freedom of being self-employed.
One of the main perks of being self-employed is to enjoy flexibility and freedom. Do what you want, when you want. Let us structure your business in a way that allows you to step back and become either a semi-absent or absent owner, without it affecting profits.
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With strategic planning and training IT IS POSSIBLE to spend less time working in your business so you can focus on other businesses, an expansion or spend more time with family and friends.
Marketing & Advertising
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Customers want a loan from you, but they have to be able to find you first.
If you are not marketing your business, you may not be moving forward. Let us devise a plan to develop a steady applicant pipeline both digitally and in-person. We track the results from each marketing channel and analyze the data to understand where the best value lies for your marketing dollars. Understand the actual cost of generating a new customer. Pay per lead. Duplicate and out-of-province leads replaced free.
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Get loan applicants sent directly to you from Digital Pipeline.
Brand Management
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Branding that resonates with borrowers.
A great deal of thought goes into cultivating a new brand. We know the customers you are trying to attract. We will create a brand for you that will resonate with your existing customers and attract new ones. We will create a brand that stands out against the competition within your local market. Attract customers to your store-front with branding that will get you noticed. We manage your online presence in a way that consumers will apply for a loan with you, not your competitors.
Build/Buy/Sell a Payday Business
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Navigate the sales process smoothly and effortlessly.
We are Canada's only payday loan industry consultancy. As a result, we've had business owners reach out to us to sell their payday loan businesses. We leverage our network of operators across Canada. We take care of everything from valuing the business, navigating the sales process for you to close on the sale quickly. Rest assured things will be handled with tact using our expert trusted professional network of lawyers and accountants.
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We can build a turn-key payday loan business and provide you with everything you need to be successful - including training. Don't want to start from scratch? No problem! We can help you buy an existing business and grow it. Looking to exit? Let us prepare your business for sale and facilitate the sales process.
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Prefer the comfort of owning and operating a franchise? Talk to us about a Money Direct franchise, today! Enjoy the support and guidance of a proven brand and business model.
Audit & Operations
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Avoid fines by being compliant.
A streamlined lending process is important to your customers so it should be important to you too. We have developed a low-resistance borrowing process for applicants. Fund loans in as little as 5 minutes from the time of application. Fund "re-loans" within 2 minutes.
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The regulator may show up unannounced to complete a site audit to ensure compliance with the Act and Regulations. Be prepared by knowing you are compliant at all times. Some provinces require annual reports to be submitted that include specific data on your customer base and lending practices. If your software doesn't do this for you, we can do it for you and set you up with the software to make life easier for next time.