San Antonio Express: Payday lenders checking out of San Antonio

September 11, 2015

Loaning money hasn’t been easy for payday and auto-title lenders operating in San Antonio the last couple of years. As a result, some of those lenders are shuttering stores and, in some cases, getting out of the short-term lending business altogether.

Figures from the city show there’s been a net loss of more than 60 payday and auto-title lending stores since the start of 2013. And with the recent disclosure by Austin-based EZCorp. and some smaller lenders that they’re pulling out as well, the net decrease will exceed 100 stores.

That would represent a more than 40 percent drop in 2½ years. Figures from the state show payday and auto-title lenders operating in the San Antonio metropolitan area made 20 percent fewer loans last year compared with 2013. Meanwhile, the dollar value of those loans fell almost 27 percent.

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