Brad Rixmann, chief executive of Burnsville-based Payday America, is sites like lending club personal loans a giant regarding the lending that is payday, running the greatest such company when you look at the state. He is also an important player in Minnesota politics, having doled out almost $550,000 in state campaign contributions throughout the decade that is last.
As Rixmann’s contributions have cultivated, therefore has their company, aided by state legislation that enables him to charge interest that is triple-digit on loans that will get as much as $1,000. Their customers spend on average 277 % interest, often borrowing over and over over and over over repeatedly against their next paycheck.
Rixmann, 50, first became familiar to Minnesotans given that face of Pawn America, a string of pawn shops he were only available in the first 1990s. He has got starred in commercials that urge audiences to even bring in broken necklaces and solamente earrings for money trade. Continue reading “Leader in payday advances makes their presence felt at Minnesota Capitol”