There are critics of the payday loan industry that want to cry foul because these companies use demographics to determine where they set up shop. This is completely ludicrous for a variety of reasons.

First of all, what are demographics? Demographics are simply the statistical data of a population. They can be used in various ways, but are most often used to show average age, income and education of a certain population. All companies must consider the demographics of an area before opening a new store. So for critics to come down harshly on the payday loan industry does not make sense.

The critics claim that payday loan companies are preying on the weak, or in other words, the poor or uneducated. This is very far from the truth. It is true that it is more common to see a payday loan lender in a poor neighborhood than it is to see one a fancier neighborhood. But when you think about it, it makes perfect sense.

A payday loan is generally used by someone who needs money quickly before the next payday, but will be able to pay it back in a relatively short time. People who live in million dollar homes do not need these types of loans, which is exactly why you will not see a payday loan lender set up shop on Boardwalk or Park Place.

Think about this. Have you ever seen a designer clothing store in a tiny town that is barely surviving? Do you see thrift stores in the ritziest parts of town? No, and no. Every single business owner that wants to survive in their chosen market must take into account where they are located. For certain businesses, location is the key, or at least one of the keys, to success.

So for a payday loan company to be criticized for setting up shop where they are most likely to get customers is simply unfair. It is not predatory in the least. No one is prowling the streets, forcing customers into the store by some physical means. It is still up to the person who needs the loan to seek out the lender. It just makes a lot more sense if the lender is in an easily accessible place for the person looking for it.

Of course, there are also those unscrupulous lenders who really do not have the customer’s best interests at heart. This is true for any business. However, just because one lender is this way does not mean the entire industry operates this way.

In order to weed out the good from the bad, just exercise a bit of caution when approaching a payday loan lender. Don’t just go with the first one you find. There is really no regulation on fees for these companies, so shop around to find the one that charges the least amount in fees. Remember that customer service should always be a priority, so visit with the workers and watch how they interact with you. You can learn a lot about a company by simply watching their employees. When you find a friendly, helpful company that offers lower fees than the others, you have found the lender you want.