November 5, 2007
CashCall
СashCall is based in Irvine and focuses its lending primarily in California. Since its establishment in July 2003, the privately held company says it has loaned about $50 million to roughly 7,000 customers.
Paul Reddam, CashCall’s founder, countered that his loans aren’t for everyone. They’re for people who aren’t necessarily struggling to get by but find themselves in the occasional financial pinch.
“I thought about people who are always borrowing from friends and relatives,” Reddam told me. “I wanted to offer them another way.”
“People tend to spend as fast as they make money,” Reddam said. “Whatever they make, they spend. There’s a live-for-today mentality.
“It’s quite shocking, really.”
CashCall, he said, is designed to meet this need, providing money quickly and easily via the phone or Internet.
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