Cash Converters
 | |
| Public | |
| Industry | Retail |
| Founded | 1984 in Perth, Western Australia |
| Website | www.CashConverters.com |
Cash Converters International Limited is a worldwide pawnbroking franchise company, as well as a retail store. They also offer small financial loans.[1]
Australia
Cash Converters International (CCV) is a franchised retail network listed on the ASX and London Stock Exchange.
Cash Converters stores around the world offer pawnbroking loans available in selected markets, as well as a personal finance business that operates, in various forms in the micro-lending category around the world.
This company began in Perth, Western Australia, in 1984. It was founded by Brian Cumins and a group of partners. In four years, the partners were operating seven outlets in the Perth area.
Services
Most Cash Converters stores offer a number of services in the retail, pawnbroking and personal finance sectors.
International
Cash Converters International (CCV) is a franchised retail network listed on the ASX and London Stock Exchange. Cash Converters trades in 16 countries throughout the World. Cash Converters began trading in the United Kingdom in 1992, New Zealand in 1993, South Africa in 1994, France in 1994, Canada in 1995, Spain in 1995 and the United States in 1994.
A number of countries, including Australia and the United Kingdom, operate online retail channels with stock being sold and/or auctioned. Listed stock carries warranties.
Cash Converters UK were the first to hold an online charity auction for the charity Dreams Come True.
Cash Converters charge a current rate of interest of 33% (35% in Victoria, Australia) per month, making their annual interest over 350% on the principal loan.
Cash Converters UK charge a flat fee of 32.5% on their Buybacks with an option to pay an extension fee after 28 days.
Ownership
Cash Converters is a publicly listed company trading on the Australian stock exchange (CCV).
In November 2009, EZCorp purchased a 30% stake in Cash Converters. It now has two people on the board of the company.[2]
References
- ↑ André Sammartino (2007), 'Retail', in Dick, H. & Merrett, D. (eds.), The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation, Edward Elgar: Cheltenham, UK, pp.175-194.
- ↑ http://www.cashconverters.com/default.aspx?MenuID=19