Advance America, Cash Advance (AEA)

Advance America, Cash Advance Centers, Inc. provides payday cash advance services in the United States, the United Kingdom, and Canada. Its payday cash advances include small-denomination, short-term, and unsecured advances that are due on the customer's next payday. The company provides its services primarily to the middle-income working individuals. As of December 31, 2007, it operated 2,813 centers in 35 states in the United States under Advance America and National Cash Advance brand; 12 centers in the United Kingdom; and 7 centers in Canada, as well as had 85 limited licensees in the United Kingdom. The company was founded in 1997 and is headquartered in Spartanburg, South Carolina.

For the nine months ended 30 September 2006, Advance America, Cash Advance Center's revenues increased 6% to $406.8M. Net income increased 11% to $51.3M. Revenue reflects an increase in fees & interest charged to customers and higher marketing, processing & servicing fees. Net income also reflects lower advertising expenses, decreased corporate depreciation charges, higher interest income and the absence of loss on impairment of assets.