From: Darren D. MacDonald, thenorthbaybay.ca
NORTH BAY — Anyone who has lived in North Bay for any length of time will notice one thing: a lot of payday loan locations.
North Bay has 9 payday loan locations, excluding businesses that offer payday loan services such as pawnbrokers. With business closing across town and job security in a dip, it is fertile grounds for these type of business to pop up and take advantage of those who just need a helping hand.
And this Toronto businessman wants in.
Greg Manning is an entrepreneur from Toronto. Manning has a background in politics, but his real claim to fame is his ownership of a chain of Pawnshops in Toronto and area called Cash 4 Now.
When his loan services took off after the recession in 2008, Manning decided to open up his first Cash 4 Now payday loan location. Now, ten years later, Manning wants to expand business, and he has his sights set on North Bay.
“We saw what was happening in North Bay,” says Manning. “Stores are constantly closing down. Job security is almost nonexistent. Payday loan locations are everywhere in the town, so I see no reason why we won’t make a killing.”
“We’re coming in big! The old Sears location in the Northgate Mall will not only be the first Cash 4 Now in North Bay, but the biggest payday loan location in Canada. Maybe the world… I don’t know. I’ll Google it before making the sign.”
Councillor Support
North Bay City Councillor Vic Tikus has voiced his support for the new business in North Bay.
“I think it’s a great idea,” smiles Tikus. “Why would I be upset about a business coming to North Bay? It brings jobs, it brings money, and it brings the claim of ‘Payday Loan Capital of the World’. Maybe not by sheer numbers, but surely per capita… I don’t know. I’ll Google it before making the sign.”
“Who knows, maybe The City Of North Bay will look into taking out a loan to get stuff down around here!”
Vic Tikus chuckles, before lapsing into a morose silence.
Open for the Summer
Cash 4 Now plans on having it’s Northgate location opened in time the summer, with a new “Vacation Now, Pay Later” promotion.
“I want Cash 4 Now to be like Timmies,” says Manning. “It’s just everywhere. One in every neighbourhood, one on every street corner, one miniature Cash 4 Now kiosk inside of another Cash 4 Now.”
“The future looks bright North Bay! The future looks bright!”