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It also said it would stop operating auto financing business Carboodle because its volume growth had been too low. It would instead change to a secured motor-lending business. It plans to expand operations in Australia, offering a wider range of loans to include "medium amount" loans of up to 5000. More than 1 million Australians are estimated to take out a payday personal loans in frederick maryland short-term credit contract loan each year.
In 2012, the market was between 800 million and 1 billion. Cash Converters said it had signed a new facility to replace its bank funding, with Fortress Investment Group. A government review into the sector was due to make its recommendations this month.
Cash Converters reported a 15. 9 million profit for the first half of the financial year; up from a 5. 3 million loss in December 2014.