Loan Shack Launches Online Lending Service In Nine US States

Sept. 21, 2009 - PRLog -- Loan Shack, an online lending and payday loan company, this week began offering its services in nine Western and Midwestern states. Loan Shack will announce its new services in online advertising campaigns that begin later this month. Las Vegas entrepreneur Chuck Brennan, founder of Dollar Loan Center and Clark County Collection Service, is majority owner of Loan Shack.

“Dollar Loan Center has become one of the most successful brick and mortar signatory loan companies in the country since we launched the business model ten years ago,” said Brennan. “Now that we have proven methods to offer secure online business transactions, we are thrilled to be able to offer short-term loans online with Loan Shack.” Dollar Loan Center operates 50 stores in Nevada, Utah and South Dakota. In 2007, the company was named among Entrepreneur magazine’s “Top 500 Fastest Growing Companies and Entrepreneurs” in the country.

Loan Shack, online at www.loanshack.com, offers short-term and payday loans up to $500 in Nevada, Utah, South Dakota, Idaho, Missouri, Montana, Wisconsin, Wyoming and Washington. Loan applicants simply fill out an online application and receive an approval confirmation via email within a few minutes. The secure and confidential loans are direct-deposited into the applicants’ checking accounts on the next business day.

“Loan Shack is certainly a big part of the future in short-term lending,” said Brennan. “Recent statistics show that more than 60 percent of Americans are currently living paycheck to paycheck. And really, who hasn’t experienced a time in their lives when they want a few extra dollars to pay bills before their next paycheck?” he said. “Loan Shack’s average loan is about $300, and with most people paying it back in a few weeks, the cost is very reasonable to know you have options when you need them.”

Loan Shack is headquartered in Sioux Falls, South Dakota at the Dollar Loan Center corporate office. Applicants must be current residents of its nine operating states to qualify. “We have plans to expand within the next few years,” said Brennan. “To have nine states licensed and registered upon our launch exceeded our original expectations and certainly shows that this business model is one with great potential for success.”

Loan Shack is a payday and short-term loan company located online at www.loanshack.com. It is licensed to operate in Nevada, Utah, South Dakota, Idaho, Missouri, Montana, Wisconsin, Wyoming and Washington. Loan Shack is a division of DLC Empire, which includes Dollar Loan Center. Dollar Loan Center is the largest provider of short term credit services in South Dakota and Nevada. For more information on Dollar Loan Center, visit www.dontbebroke.com.