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Leader in pay day loans makes their existence felt at Minnesota Capitol

Leader in pay day loans makes their existence felt at Minnesota Capitol

Brad Rixmann, leader of Burnsville-based Payday America, is a huge from the lending that is payday, running the biggest such company when you look at the state. He is also an important player in Minnesota politics, having doled out nearly $550,000 in state campaign donations within the last ten years.

As Rixmann’s efforts have cultivated, therefore has their company, aided by state legislation that enables him to charge interest that is triple-digit on loans that will get as much as $1,000. Their clients spend on average 277 per cent interest, often borrowing over and over over and over over repeatedly against their next paycheck.

Rixmann, 50, first became familiar to Minnesotans given that real face of Pawn America, a string of pawn shops he were only available in the first 1990s.