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Posts Tagged ‘Dollar Loan’

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Interview of the Week: Charles C. Brennan Celebrates Dollar Loan Center’s 15th Anniversary

In General on November 16, 2013 at 4:57 am

Charles C. BrennanCharles C. Brennan founded Dollar Loan Center 15 years ago, with a mission to provide loans to residents that are a more affordable alternative to payday loans. With a background in rock concert promotion, Charles C. Brennan has helped Dollar Loan Center grow from its original Las Vegas, Nevada, location into a successful franchise, with 80 locations throughout Nevada, California, Utah and South Dakota.

Today, Dollar Loan Center maintains its original focus on community-based customer service that Charles C. Brennan instilled in the organization. Not only has Charles C. Brennan opened new locations, he has also converted several mom-and-pop businesses into Dollar Loan Center locations. On the eve of the company’s 15th anniversary, Presentation Solutions spoke with Charles C. Brennan about the company’s accomplishments, as well as what he hopes to achieve through the business in the future.

Presentation Solutions: What sets Dollar Loan Center apart?

Charles C. Brennan: Our business model is an excellent alternative to the traditional payday loan concept. Instead of charging a flat fee to hold a check, we specialize in signature loans.

Presentation Solutions: How does a signature loan work?

Charles C. Brennan: We don’t require someone to plop down a postdated check. Instead, customers are given a loan that accumulates simple interest on a daily basis.

Presentation Solutions: What prompted you to create Dollar Loan Center?

Charles C. Brennan: There was nothing like it, leaving consumers who wanted a short-term loan no choice but to do business with a traditional payday loan location.

Presentation Solutions: Does your loan model require a checking account?

Charles C. Brennan: Not at all. Because of our signature loan model, we’re able to provide loans to those who have been unable to obtain help because of changes in the banking industry.

Presentation Solutions: But doesn’t offering low rates cut into your profits?

Charles C. Brennan: We’ve been able to remain profitable through taking time to make sure our underwriting process covers everything, as well as by following through on collections. This saves customers money while also helping us continue to grow.

Presentation Solutions: Your stores go by the slogan, “Your community leader.” Why is that?

Charles C. Brennan: Dollar Loan Center is an active part of every single community in which we’re located. We believe in not just helping our customers, but getting to know the people who are impacted by our assistance.

Presentation Solutions: In addition to your locations, you offer online lending. How can someone obtain a loan online?

Charles C. Brennan: Through our website, dontbebroke.com, consumers can fill out a simple application and receive payment either in one of our stores or online through direct deposit.

Presentation Solutions: Can anyone apply for a loan online?

Charles C. Brennan: To participate, a consumer has to be located in one of the four states in which Dollar Loan Center is located. The direct deposit option also requires a checking account, but consumers without one can still start the ball rolling online, and then pick up cash at one of our many locations.

In addition to his work with Dollar Loan Center, Charles C. Brennan is also the founder of the Brennan Rock & Roll Academy in South Dakota. Through this academy, Charles C. Brennan helps disadvantaged youth learn music.

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Dollar Loan Center CEO Chuck Brennan on Appearing in National Security Magazine

In Business, Finance on August 29, 2013 at 1:29 pm

Charles-C-Brennan-Professional-VerticalCEO Chuck Brennan founded Dollar Loan Center in 1998 as a provider of short-term loans. Dollar Loan Center is a division of DLC Empire.  Chuck Brennan and Dollar Loan Center recently earned recognition from Currents magazine, one of the chief security magazines in the world. Chuck Brennan, who currently lives in Las Vegas, NV., speaks about his company’s emphasis on safety and security.

Presentation Solutions: How important is this honor?

Chuck Brennan: Very important. Safety and security are two major concerns with any business—and especially for Dollar Loan Center and the retail lending industry in general.

Presentation Solutions: How many Dollar Loan Center locations are there in the U.S.?

Chuck Brennan: There are now Dollar Loan Center locations in four states.

Presentation Solutions: Where are those?

Chuck Brennan: Stores can be found in Nevada, California, Utah and South Dakota.

Presentation Solutions: What region sees the most business?

Chuck Brennan: The Las Vegas, NV stores have seen the highest volume of traffic.

Presentation Solutions: The safety precautions at Dollar Loan Center must give customers peace of mind.

Chuck Brennan: As the principal provider of short-term credit in both South Dakota and Las Vegas, NV., it is crucial for Dollar Loan Center to operate under an established set of standards.

Presentation Solutions: What went into making Dollar Loan Center a secure place of business?

Chuck Brennan: Store monitoring is a key component to safety measures. This level of security is rare in the retail lending industry.

Presentation Solutions: How are store operations monitored?

Chuck Brennan: The surveillance center was created to monitor each of the Dollar Loan Center locations from a centralized unit so that the security team could view every inch of every office.  We monitor over 1,500 security cameras, 24 hours a day, 7 days a week.

Presentation Solutions: What’s another prominent feature of these security measures?

Chuck Brennan: Each branch is equipped with cash recyclers that count, sort and validate all customer deposits within a safe machine. This machine is only accessible by members of the Dollar Loan Center security team.

Presentation Solutions: What happens if a cash recycler is stolen?

Chuck Brennan: These cash recyclers contain security cameras, tracking systems and alarms. It is virtually impossible for a thief to get away with the crime.

Presentation Solutions: Has this security effort prevented theft?

Chuck Brennan: By using state-of-the-art technology, Dollar Loan Center has virtually prevented theft in all of its locations.

Presentation Solutions: As they say, safety first.

Chuck Brennan: Our greatest objective is to keep both customers and employees out of harm’s way. Thankfully, Dollar Loan Center has proven successful in this challenging endeavor.

Presentation Solutions: Thanks for being with us today, Chuck.

Chuck Brennan: Thank you!

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Charles Brennan Explains Signature Loans and the Dollar Loan Center Way

In Finance on May 3, 2013 at 1:37 pm
Charles Brennan

Charles Brennan

Charles Brennan is the majority owner, Founder and CEO of Dollar Loan Center, a Las Vegas, Nevada based company offering signature loans to customers in Nevada, Utah, South Dakota, and California.  Charles Brennan explains signature loans in the following Q&A.

Q:  What is a signature loan?

Charles Brennan:  It is a short-term loan used, mostly, in financial emergencies.

Q:  What are some of the ways folks in Las Vegas, Nevada and elsewhere have used signature loans from Dollar Loan Center?

Charles Brennan:  The loans are used mostly to bridge the gap between having a bill due and the timing of a paycheck.  People have used loans for medical bills, rent, and home maintenance emergencies, for example.

Q:  How do people apply for Dollar Loan Center signature loans?

Charles Brennan: They can come in for face to face service at one of our 80 locations. As well, anyone can apply online at any time at dontbebroke.com.

Q:  How does one qualify for a signature loan?

Charles Brennan:  To qualify, recipients go through an application process and must have steady employment.

Q:  What about bad credit?

Charles Brennan:  Dollar Loan Center has a loan product for everyone, even those without stellar credit.

Q:  Does it cost anything to get a signature loan from Dollar Loan Center?

Charles Brennan:  There are no upfront or processing fees; the recipient only pays interest charges for how long they have the loan out.

Q:  How much interest does the loan recipient pay?

Charles Brennan:  The amount of interest varies by the individual and the size of the loan, but it is accrued daily and is never compounded.

Q:  What if a borrower repays the loan early; do they still pay interest charges?

Charles Brennan:  Absolutely not.  Interest payments end the day the loan is repaid.  Dollar Loan Center wants to help people avoid the debt treadmill.

Q:  Does a borrower go through the same application process for additional loans?

Charles Brennan:  If the borrower’s information in the Las Vegas, Nevada based Dollar Loan Center system is current within the last 12 months, they do not have to go through the application process again to get approval for additional loans.

Q:  How does the signature loan at Dollar Loan Center differ from typical payday loans?

Charles Brennan:  The Dollar Loan Center signature or short-term loans rely only on a borrower’s promise to pay; Dollar Loan Center does not require any other collateral and does not hold post-dated checks.

Q:  How does Dollar Loan Center mitigate that risk?

Charles Brennan:  Dollar Loan Center is diligent in reviewing potential borrowers and collects interest that is higher than a secured, bank loan.

Q:  Is this type of signature loan popular with customers?

Charles Brennan:  Certainly!  We have had over 2,000,000 people apply for loans at Dollar Loan Center and most of them by referral from other customers.  Last year in 2012 we processed an average of 721 loans per DAY!  Our customers love Dollar Loan Center as much as I do.

Charles Brennan is a Las Vegas, Nevada based entrepreneur, finance expert and philanthropist.  Along with his wife, Charles Brennan co-founded Clark County Collection Service, one of the fastest growing companies in the U.S., according to Entrepreneur Magazine. The couple resides in Las Vegas, Nevada.