Leader in payday advances makes their existence felt at Minnesota Capitol

Leader in payday advances makes their existence felt at Minnesota Capitol

Brad Rixmann, leader of Burnsville-based Payday America, is a huge from the payday lending scene, running the biggest such company into the state. He is also a significant player in Minnesota politics, having doled out almost $550,000 in state campaign contributions throughout the final decade.

As Rixmann’s efforts have grown, therefore has their company, aided by state legislation enabling him to charge triple-digit rates of interest on loans that will get as much as $1,000. Their customers spend on average 277 % interest, sometimes borrowing over over repeatedly against their next paycheck.

Rixmann, 50, first became familiar to Minnesotans due to the fact real face of Pawn America, a string of pawn shops he were only available in the first 1990s. He has got starred in commercials that desire people to generate also broken necklaces and solamente earrings for money trade. Continuar leyendo «Leader in payday advances makes their existence felt at Minnesota Capitol»