FastBucks Franchise Corp Franchise
FastBucks Franchise Corp is a franchise for a business providing title loans and payday loans.
It was founded in 1998 and started franchising in 2003. When people need to get short term cash, they apply for a payday loan or sometimes also called payday advance. The amount of loan is relatively small averaging from $100 to $500. This is usually paid back in just a few days.
What do you need to be pre-approved for an Online Cash Advance?
If you are applying for a cash advance of $200, you need to have an income of at least $1,200 per month. You need to be employed by your current company for at least three months. You will also need to have lived in your current residence for at least three months. They require you to have a checking account that is active and has your name imprinted on it. The checking account has to have been open for at least three months. There must be a fax machine that is accessible to you. Your paycheck has to be deposited directly to your checking account. They require that you must be at least 18 years old and you are not delinquent on a previous payday loan. Once approved, you will receive your loan in your account the following business day. The interest can be as low as $6 for $100 for three days. When your loan is already due, if you do not take action yourself, they will debit the amount from your checking account. You may also opt to pay just the interest and extend the due date.
What do you need to do to process an online application?
You just need to fill out an online application form and fax documents such as a recent paystub, complete bank statement, copy of your social security card, copy of your stated issued ID, recent phone bill, voided check, and the loan agreement.
Cost and requirements on running a FastBucks
You need to have a total liquid asset of at least $125,000 to $150,000. Expect to be investing about $125,000 to $150,000. The FastBucks franchise fee is $27,500 with an on-going royalty fee of 7%. This is for a renewable five year term agreement.
What is included in the franchise package?
There will be two weeks training at the headquarters and one week at your location. You will have exclusivity in your territory. You will be given a toll free number and access to the internet. You will be provided assistance at the grand opening. Expect to be attending meetings and receiving occasional field evaluations to check on your progress. For marketing support, there will be ad slicks and co-op advertising.
FastBucks Contact Details
You may reach them at:
Address: 1650 B. Rio Rancho Blvd Rio Rancho, New Mexico 87124