Mother’s Day is coming up which historically gives businesses a chance to
boost sales in these hard economic times. Generally mother’s day has been great to many retail
businesses as visible by promotions in the windows of flower shops, gift stores, and even spas.
In addition, the recent economic recession and downturns has also enabled payday loan lenders and short term cash lenders to have promotions for Mother’s Day.
Direct payday lenders are in a better position as they are the ones lending funds directly to
customers and can offer better promotions.
“We are expecting a 20% increase of applications this week mainly because of Mother’s Day” said Richard Hwang, director of Finance at Pay1Day.com, a direct payday lender online.
“Payday loans were once meant to be for emergencies, however, because traditional loans are getting more difficult to qualify for and obtain, this has created more demand for such loans,” says Sara M. Varese who writes for their payday loan blog and AboutPaydayLoan.com, which features a recent article titled, “Mother’s Day Second Sunday of May, Traditions, and the Gift of Time” demonstrating the importance of Mother’s Day all around the world.
The reasons for increase of such demands are very obvious and simple – Cash flow is still a major problem with the average Americans. And furthermore, traditional banks and financial institutions are not providing enough credit for their consumers, therefore, many Americans are turning to short term cash lenders for their fast cash needs.