Payday Advances the newest Venture for Chukchansi Tribe

Payday Advances the newest Venture for Chukchansi Tribe

Payday Advances the newest Venture for Chukchansi Tribe

(supply: By Marc Benjamin, The Fresno Bee, Calif.) – up against decreasing casino profits and massive IOUs, the Picayune Rancheria for the Chukchansi Indians has embarked on a moneymaking that is new — payday loans.

Final month the Chukchansi tribe began providing cash that is online loans nationwide through its Blue King subsidiary.

It’s the newest Chukchansi business that is tribal; other people add a lumber company, sports shop, smoke store and construction business.

The pay day loan industry produces $52 billion around the world every year, and Chukchansi officials desire to get an item of it. They’re perhaps not alone; around three dozen tribes have been in the continuing company throughout the usa, stated Allen Parker, A ca consultant who works together with tribes nationwide.

Tribal financing became a lifeline for tribes, stated Barry Brandon, executive director of the Native American Financial solutions Association. These tribes have actually a lengthy reputation for financial suffering and contains been compounded by the recession, therefore it’s become a tremendously component that is important their spending plans.

It’s a business that is ideal for tribes in locations too remote to operate a casino effectively, and for tribes whoever casino profits are down.

Based on the nationwide Indian Gaming Commission, tribal video video video gaming revenues in Ca dropped about 7% from 2008 to 2010. Leer más

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