Kevin MacDonald
“I invite City Council members to visit our [payday loan] stores and see what we do. However, if they do succeed in closing all of us down, I guess I’ll send my customers to them for a $50 loan when they need a little gas and groceries till they get paid. We provide a legitimate service to people who need small loans…”
Pawnshop veteran and payday lender Kevin MacDonald invites Jackson City Council members to visit his shop and educate themselves about his business before enacting legislation…
MacDonald also said that payday loan shops were legitimate businesses in the community:
“We provide a service to a segment of society – a larger segment than many think. All of us fringe lenders are regulated and audited by the Department of Banking and Consumer Finance and they use a model law as the guideline that was passed by the state Legislature in 1993. It provides strict penalties for those who don’t abide by the law.”
Kevin MacDonald has been in the pawnshop business for almost 17 years and owns two payday loan locations.
Source: ‘Payday Loans’ a Legitimate Service (The Clarion-Ledger)
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