Leadpile’s Blog

OLA (Online Lenders Alliance) is an organization that has been around since 2005 representing the online lending industry. Leadpile is a proud sponsor at this year’s fall conference in Colorado Springs, CO. Attending and sponsoring such an event, allows us to be amongst others that are working on initiatives to help build the payday loan industry in a positive manner. This upcoming conference will be a great opportunity for Leadpile to meet with those that we are working with now, and those that we can potentially team up with in the near future. We look forward to meeting everyone at the conference!

Leadpile has rolled out a new offer for the payday loan lead type, and we are looking for more traffic!
We are looking for traffic to Green-paydayloan.com through PPC, email marketing, banner or social networking. The top payout is currently at $73.60. If you are a Leadpile publisher and looking to drive traffic to the offer, you can locate the text link in your seller account under the “offers” tab. If by chance Leadpile is not already working with you, we would like to see you join our marketplace and generate payday loan leads as a Leadpile seller/publisher!
As we all know, a lot of consumers are looking for help in their temporary setbacks, so a payday loan is a lot of the time that in-between money that is going to help them in their current situation.

Based on my observation of the payday lead industry, there seems to be a handful of qualities that the payday lead buyers are wanting.  These specifics could change, but from what I am seeing these are what leads are selling:

1.  The customer are not in the military.

2.  The customer has a bank account and preferably checking account with direct deposit.

3.  The customer is employed for at least 6 months and making at least $1200-$1500/month income.

4.  The customer is employed, not receiving benefits or self employed.

5.  The customer provides accurate banking information and other information on their application (payday lead buyers have a way of confirming if it is invalid bank routing# or invalid social security numbers).

6.  The customer is not in default on another payday loan or not actively in the process of getting a payday loan with another lender (will show as a duplicate in Teletrack).

7.  Some states have implemented payday lending laws and those leads will have a harder chance at selling if they sell at all.

8.  Some payday lead buyers do not buy on the weekends, because they are not there to work the leads.

 The question is, when will these criteria change or when will another state implement payday lending laws that prohibit these kinds of loans?  This lead type reminds me of the subprime mortgage era. The best of the best will have to keep up on the laws, and what the payday lenders are really looking for to be successful in generating this lead type. Some of these customers really do need the assistance and this payday loan will make or break if they “survive” to their next payday.

Ohio Gov. Ted Strickland has signed a controversial bill on the state’s payday lending industry. House Bill 545 caps the annual percentage rate on payday loans in the state at 28 percent, down from the 391 percent maximum currently permitted. Among other provisions, the bill also limits consumer borrowing at $500 or 25 percent of base monthly pay per loan, restricts borrowing to four times per calendar year and extends the term of a loan to 31 days from 14 days. According to Business First of Columbus, The legislation’s 90-day window closes at the end of August, when some of the more than 1,600 payday lending shops in the state already have indicated they’re planning to shut down. Lenders have said that among the law’s provisions, the new APR cap could hurt the industry by making their short-term loans unprofitable. H.B. 545, which was introduced in the House April 29, cleared the Ohio Senate May 14. Let’s hope Ohio has not overreached causing pain for their own constituents.

With over 15,000 Lead Buyers (Advertisers) Accounts, we cover over 50 active verticals to which we deliver leads on a daily basis. Our top verticals, consisting in the largest amount of leads produced each day, are:

• Payday Leads
• Auto Financing Leads
• Debt Consolidation Leads
• Debt Settlement Leads
• Credit Repair Leads
• Car Insurance Leads
• Bankruptcy Leads
• Home Based Business Leads
• Prepaid Credit Card Leads
• Life Insurance Leads
• Car Warranty Leads

The increasing price for the SEM (Search Engine Marketing) campaigns and the management of an internal Affiliate Network, creates a good environment for our Lead Marketplace, as the buyers are more attracted to the flexibility and the quick access to a good source of leads. The internet is leveraging the lead price and our goal is to offer the highest quality leads to our Buyers (Advertisers), and in the same time being able to create a marketplace where the Publishers, on the other hand, can monetize their web traffic as never before possible.