It was about a week ago that I met up with an old friend, Newell Hodgson to hear of his new business - Cash Fix. Cash Fix is targeting a massively growing niche market that has taken off globally (in fact, it is the fastest growing business sector in the US for the last few years) offering short terms cash loans against your incoming pay cheques (pay day lending I think it is called in the US).

Basically, you can apply for a short term loan of between $200 and $500 to be repaid on your payday. There are relatively few hurdles to jump through - no credit checks etc - and the whole process is usually completed in an hour. The whole business is Internet driven.

The interesting thing about our chat was how you can engage the customer to provide a more valuable experience through the website. Realistic budgeting tips and advice from other other people in similar short term cash crisis made the most obvious choice of content - but we sort of scratch our head about what more could be done. Very interesting area of work! Good luck with the business Newell and Simon!

This entry was posted on Friday, July 6th, 2007 at 11:26 am and is filed under Opinion. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.