By CAROLINE BECK and MARY SELL, Alabama Constant Information

A payday lender in Jefferson County stated he’s seen a current reduction in the short-term loans removed by Alabamians, but advocates to get more legislation on that industry are involved more individuals will check out loans as companies remain shut.

A payday lender and president of Borrow Smart, a payday lending industry group“If the economy goes south, so does our business, ” said Max Wood.

Payday and name loan providers continue steadily to run in Alabama amid the shutdown of “non-essential” companies in an attempt to slow the spread of this brand new coronavirus. Read More “Gun sellers, payday lenders stay open in Alabama as ‘essential company’”