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Wheels Financial Group, LLC dba LoanMart

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Wheels Financial Group, LLC dba LoanMart
File:LoanMart logo as of 2018.jpg
Type
Privately held company
ISIN🆔
IndustryTitle Loans
Founded 📆2002 in Sherman Oaks, California
Founder 👔
Headquarters 🏙️Van Nuys, California,
Van Nuys, California
,
USA
Area served 🗺️
Alabama, Arizona, California, Georgia, Idaho, Missouri, New Mexico, South Carolina, Utah, Illinois
Members
Number of employees
🌐 Websitewww.800loanmart.com
📇 Address
📞 telephone

Wheels Financial Group, LLC dba LoanMart is a California-based money-lender, including risk assessment, asset allocation, financing services, customer acquisition, and loan services.[1] LoanMart provides car title loans throughout Arizona, California, Illinois, Missouri, New Mexico, and Utah.[2] Founded in 2002, they provide financial services directly to their customers and through their large network of partners.[3] In 2014, they were the largest auto title loan lender in California with 9,827 loans.[4] In 2016 Victory Capital Provided a $100M Credit Line to LoanMart.[5]

Spokesperson[edit]

Hulk Hogan became the celebrity spokesman for LoanMart in 2012. They renewed his contract despite the controversy surrounding him because they believed the renewal highlighted what LoanMart really does, which is “give people a second chance."[6][7]

Sponsorships[edit]

LoanMart sponsored the Los Angeles Clippers, but dropped their sponsorship after the controversy surrounding former owner Donald Sterling.[8][9]

LoanMart partnered with the Rancho Cucamonga Quakes in 2012. In 2013, LoanMart became long-term partners with the Quakes, which included naming rights for the stadium, now called LoanMart Field. LoanMart also sponsors the LoanMart Strikeout promotion, donating $5 to the Rancho Cucamonga Community Foundation whenever the Quakes strike out a batter. The partnership also involves providing three scholarships of $1,000 to local high school students.[10]

LoanMart sponsored the Arizona Cardinals during the 2013/2014 season. They were promoted through the Cardinal’s online presence and participated in social media marketing at the University of Phoenix Stadium, including the Cardinals Gameday Social Photo Booth.[11]

In 2013, LoanMart sponsored the then San Diego Chargers to enhance their marketing efforts in San Diego. It involved digital, print, and radio marketing at Qualcomm Stadium.[12]

In 2012, LoanMart signed a two-year Presenting Sponsorship agreement with the Lancaster JetHawks, making them the first Presenting Sponsor in the Jethawks’ history[13]

LoanMart sponsored the NASCAR team Front Row Motorsports for five races in 2012.[14]

LoanMart sponsored the No.38 Ford at the Auto Club Speedway.[2]

Criticism[edit]

In 2013, Wheels Financial Group, LLC was accused of violating California Finance Lender Laws.[15] They reached a settlement, agreeing to pay $450,000 in penalties and clerical costs.
[16] In 2013, referencing a 2011 bill in the California Legislature, Oscar Rodriguez, former CEO of LoanMart, said that car title loans allow borrowers with poor credit to secure financing that might not otherwise be available.[17]

Website[edit]

www.800loanmart.com

References[edit]

  1. "Wheels Financial Group Inc". Bloomberg. Bloomberg L.P. Retrieved 29 August 2018.
  2. 2.0 2.1 Boarman, John. "David Gilliland has LoanMart Sponsorship this weekend". Tireball Sports. Tireball Sports News, Rumors, Gossip and Opinions.
  3. "Victory Park Capital Provides $100MM Credit Facility to Wheels Financial". ABL Advisor. Equipment Finance Advisor, Inc. Retrieved 29 August 2018.
  4. "Auto Title Lending Continued California Surge in 2014, DBO Report Shows". 2015-08-04.
  5. "Victory Park Capital Provides $100M Credit Facility to LoanMart". Wall Street Journal. 2016-03-15. ISSN 0099-9660. Retrieved 2018-10-04.
  6. Bradley, Diana. "Despite racist comments, LoanMart gives Hulk Hogan a "second chance" as spokesman". PR Week. Haymarket Media. Retrieved 29 August 2018.
  7. Konuwa, Alfred. "Hulk Hogan's $115 Million Win Against Gawker And What It Means To WWE". Forbes. Retrieved 2018-10-04.
  8. Smith, Isidore, Aaron, Chris. "12 Clippers sponsors jump ship". CNN. WarnerMedia. Retrieved 29 August 2018.
  9. Heitner, Darren. "Donald Sterling's Comments Begin To Have Financial Impact On Los Angeles Clippers". Forbes. Retrieved 2018-10-04.
  10. Lindskog, Mike. "LoanMart Field!". MiLB.com. Minor League Baseball. Retrieved 29 August 2018.
  11. Warnes, Rachel. "NFL's Cardinals partner LoanMart". SportsPro, SportsPro Media Limited. Retrieved 29 August 2018.
  12. McPherson, Ian. "LoanMart and San Diego Chargers partner for 2013". SportsPro. SportsPro Media Limited. Retrieved 29 August 2018.
  13. .Jethawks, Lancaster. "JetHawks, LoanMart agree on presenting sponsorship". MiLB.com. Minor League Baseball. Retrieved 29 August 2018.
  14. Peltz, Jim. "NASCAR's little engines that almost can". LA Times. Los Angeles Times. Retrieved 29 August 2018.
  15. "DESIST AND REFRAIN ORDER (For violations of the California Finance Lenders Law)" (PDF). California Department of Business Oversight. State of California. Retrieved 29 August 2018.
  16. "Settlement Agreement" (PDF). California Department of Business Oversight. State of California. Retrieved 8 October 2018.
  17. Said, Carolyn. "Car-title loans' a road to deep debt". SF Gate. Hearst Communications, Inc. Retrieved 29 August 2018.


This article "LoanMart" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:LoanMart. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.



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