LAS VEGAS, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (OTCQB:IFSL), a fully reporting company listed on the OTCQB, creator and provider of various financial products and services for businesses and individuals, has received authorization for Dollars West Inc., its wholly owned subsidiary, to become a lender in the $42 billion payday loan industry.
Ideal intends to begin lending immediately, using its relationships as a B-2-B provider of financial services, with a strong presence in the payday market.
"A large component of Ideal's turnaround in the past year was due to our strategy to begin working with lenders including those in the payday market, resulting in gross revenue in our most recently reported quarter of over $3.2 million," stated Steve Sunyich, Chief Executive Officer. "Our transactional flow has been fantastic and our entry now as a direct lender is a simple decision to find more ways to monetize that consumer audience and at the same time help those consumers find better financial solutions in the future."
"We firmly believe we can increase revenue and profit for Ideal while ethically providing much-needed short term loans to individuals looking to avoid predatory bank fees and late charges," Sunyich added. "By also providing every consumer to whom we lend access to our Credit to Wealth system, we simultaneously service their short term needs while providing a guided pathway to a better financial tomorrow."
"There's no doubt that the short term or 'payday' loan industry provides an enormous opportunity for Ideal and its shareholders," stated Chris Sunyich, President. "The additions of new team members such as our General Counsel and CFO, in addition to a new CTO with tremendous expertise in our core verticals gives us a real opportunity to capitalize and expand on this enormous market."
According to a 2011 article in the Nashville Ledger, payday loans have become a $42 billion-a-year industry.
About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (http://www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in financial services, Ideal uses its automated CashFlow Management(C) tools and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. Select the following links to view more information on Ideal's brands such as Ideal Financial HR, Ideal Cash Secrets and iLenderAssistance.com. Please connect with us on Linkedin or Twitter. For investors who would like to receive Ideal's newsletter, please send your email address to: support@idealfsi.com
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