Brad Rixmann, leader of Burnsville-based Payday America, is a giant regarding the lending that is payday, running the biggest such company when you look at the state. He is also an important player in Minnesota politics, having doled out almost $550,000 in state campaign contributions within the final ten years.
As RixmannвЂ™s contributions have become, therefore has his company, aided by state legislation which allows him to charge interest that is triple-digit on loans that will get as much as $1,000. Their clients spend on average 277 % interest, sometimes borrowing over over over and over repeatedly against their next paycheck.
Rixmann, 50, first became familiar to Minnesotans because the face of Pawn America, a chain of pawn shops he were only available in the first 1990s. He’s got starred in commercials that desire people to even bring in broken necklaces and solamente earrings for money trade. Within the very early 2000s, he expanded into payday financing with Payday America. Read more