Urban Fold

The Check Cashing Place Comes to the 'Burbs

A recent newspaper investigation in Virginia reveals that payday loan operations are eschewing poor neighborhoods and setting up in suburban areas.

"An analysis by The Virginian-Pilot [newspaper] reveals the [new] face of payday lending: Lenders are targeting middle-income neighborhoods, usually near shopping malls, and avoiding poor areas.

It's why neighborhoods with lower median incomes - such as Norfolk's Berkley and Portsmouth's Brighton/Prentis Park - have no payday lenders, while Portsmouth's solidly suburban subdivisions along Portsmouth Boulevard near Chesapeake Square Mall have a cluster of them.

Payday lenders have even opened shop in upscale areas such as Chesapeake's Edinburgh Commons, which is near million-dollar homes. Advance America is one of 12 payday lending outlets within a half-mile of The Gallery at Military Circle. According to the 2000 census, neighborhoods in that area reported median incomes of $30,000 or more, placing them solidly within Norfolk's middle and working classes."

Full Story: Who uses payday loans? Not who you might think.

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Woman wearing city map tote bag

City Shoulder Totes - New Cities Added!

Durable CityFabric© shoulder tote bags available from 9 different cities.
$22.00
City Plate table setting

New Arrival! City Plates

City downtown cores printed on gorgeous decorative collectible porcelain plates.
$50.00