Autopawn of California Inc Accepts Best of Business Award in the Consumer Finance Companies Category from the Small Business Commerce Association

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Autopawn of California Inc has accepted the Small Business Commerce Association (SBCA) Best of Business Award in the consumer finance companies category in recognition of their achievements and by being an exceptional example of a socially responsible car title lending company.

The Small Business Commerce Association (SBCA) recently informed Autopawn of California, Inc they have won the Best of Business Award in the consumer finance companies category in recognition of their achievements and by being an exceptional example of a socially responsible secure car title lending company. Autopawn of California has announced they will accept this award.

Autopawn of California is one of the oldest and most established car title lenders in the United States, and prides itself on being a socially and fiscally responsible lender in the sub prime market. This has allowed thousands of customers across the U.S. in need of rebuilding credit or quick money to trust Autopawn of California.

As the recent turmoil in the credit markets continues to take its toll on the economy, the demand for credit remains at an all time high. In fact, the Federal Reserve Board reported a total of nearly $2.5 trillion in outstanding consumer debt at the end of 2010. With demand at historic levels, and banks all but invisible when it comes to extending credit, many consumers with tight budgets and poor credit are left with few options when it comes to getting a small personal loan.

As a result of the tight credit supply and a lagging economy, many people have turned to non-traditional lending companies to fill the void. These lenders include check cashiers, payday advance lenders, pawnbrokers, and car title lenders. While these lenders can provide an immediate solution to short-term financial emergencies, for many borrowers, the solution can be worse than the problem. In states where lending rates are unregulated, rates for these loan products are often in the triple digits, and some can be even be as high as 300% APR. For consumers forced to turn to one of these loan products, the risk of getting into deeper trouble is very real.

Consumer activist groups have spoken out about the predatory lending practices common in these industries, and state legislators have responded. Currently about half of the states in this country have enacted, or are in the process of enacting, some form of regulatory control. Thirteen states have even outlawed some of these predatory lending practices all together. The result is a confusing patchwork of state and local lending laws that leave some borrowers unprotected from unscrupulous lenders, while depriving others of a very important source of emergency short-term cash.

Fortunately, not all lenders in the subprime industry are predatory and unscrupulous. Autopawn.com, the nation’s largest auto title lender, is one of the rare exceptions. The company, founded in 1994, has been recognized as one of the industry’s best. While many companies trap people into loans they cannot repay, Autopawn.com created a corporate culture centered on helping people gain access to short-term loans without driving them into further financial hardship. The company offers the lowest rates of any similar type lender in the nation, and will only extend credit if the customer can afford to pay it back.

While not every customer can be approved, Autopawn.com has been able to successfully extend credit to many people who could not receive help from banks, credit unions, or other lending institutions. And, by providing loans at the lowest rates in the industry, no customer is driven into the debt trap of receiving a high-interest loan without the means to repay it.

For the first time, people without perfect credit and a high FICO score have a real alternative to the outrageous interest rates currently offered by other lenders. By providing less expensive credit to people who otherwise could not obtain it, Autopawn.com is leading the way to change how subprime lenders do business. As a result of its fiscally and socially responsible lending practices, Autopawn.com’s percentage of delinquent accounts is far below the industry average and its customer satisfaction is unsurpassed – proof that profitable lending need not be predatory or unethical.

About Autopawn.com:
AutoPawn.com is one of the nation's largest and most reputable auto lenders. Founded in 1994, AutoPawn.com has helped thousands of satisfied customers get the cash they need. With over 75 years of combined lending experience, the expertise of AutoPawn's lending officers is unparalleled in the industry. The CEO of Autopawn.com has more than twenty-five years of operations and management experience in the finance industry. He is an author, lecturer, speaker, and recognized authority on subprime and fringe lending, and has been published in national industry magazines, been featured as a radio talk show guest, and has provided assistance, training, and expertise to the US Department of Labor, Department of Justice, California State Attorney General, and the Department of Motor Vehicles, as well as to owners of other finance companies throughout the United States, Australia, and the United Kingdom.

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