LoanMart

LoanMart
Lending Company
Founded 2002
Headquarters Encino, California
Key people
 Hugo Dooner(CEO)
Number of employees
 330
Website Official website

LoanMart, also titled 1-800LoanMart, is a California-based lending company. LoanMart operates as a "non-traditional" lending service to car-owners, using the value of the customer's vehicle as collateral while allowing use of the car.[1] As of March 2014 the company has over 330 employees and does business in California, Arizona, New Mexico, Utah, Illinois, and Missouri.[2] The company is known for sponsoring sports teams and organizations such as the Arizona Cardinals[3] and the Rancho Cucamonga Quakes baseball team, whose home stadium in Rancho Cucamonga, California is named LoanMart Field as of 2013.[4] In October 2014, the company launched a small business loan product.[5]

History

Overview

Founded in 2002,[1] 1-800LoanMart is a direct financer[6] and lending company based in Encino, California,[1] and licensed by the California Department of Corporations.[6] The company operates as a "non-traditional" lending service to car-owners; instead of looking at credit scores to establish eligibility for loans, the company uses the actual value of the customer's vehicle and their ability to repay the loan as collateral, while allowing use of the car.[1] As of March 2014 the company has over 330 employees and does business in California, Arizona, New Mexico, Utah, Illinois, and Missouri.[2] LoanMart is involved in various charity projects, largely local to California.[7]

Sponsorships

The company is known for an extensive and highly visible marketing strategy, much of which is related to sports. On January 30, 2012, the Los Angeles Clippers announced a partnership with 1-800LoanMart, with LoanMart becoming an official sponsor.[7] LoanMart suspended the sponsorship in April 2014, after racist comments allegedly made by Donald Sterling, the team's owner.[8]

LoanMart Sports includes the motorsports division LoanMart racing, with racing teams including SRL SouthWest Tour.[9] As of March 2014 LoanMart also supported the Lucas Oil racing series, including the Lucas Oil Modified Series, the Lucas Oil Drag Boat Racing Series, and the Lucas Oil Off Road Racing Series.[2][10][11][12]

Loanmart is also a sponsor of LoanMart Field, used by the Rancho Cucamonga Quakes in Rancho Cucamonga, California. Originally known as the Epicenter, it had opened in 1992 at a cost of $20 million, and has since won the record for single season attendance in the California League. In 2013, LoanMart signed a ten-year naming rights agreement with the franchise.[4]

Marketing

The company is known for financial education ads regarding Auto Title Loans,[13] some of which have featured Hulk Hogan[13] and Jimmy Hart.[14] Many of the video promos were shown at Clippers games at the Staples Center.[6]

See also

References

  1. 1 2 3 4 "About Us". 800LoanMart. Retrieved 2014-07-06.
  2. 1 2 3 "LoanMart Parters with Lucas Oil regional Off Road Series Presented by Kartek". Lucas Oil Regional Off Road Series. March 28, 2014. Retrieved 2014-07-06.
  3. ↑
  4. 1 2 Cieszynski, Drew (2014). "LoanMart Field: The Epicenter of it All". Stadium Journey. Retrieved 2014-07-06.
  5. ↑ loanmart.com/small-business
  6. 1 2 3 "1-800-Loan-Mart extends Hulk Hogan endorsement deal for 3rd year". Prince Marketing Group. Retrieved 2014-07-06.
  7. 1 2 "Los Angeles Clippers, 1-800LoanMart Announce Multi-Faceted Partnership; Leading Auto Title Loan Company Becomes an Official Sponsor of Los Angeles Clippers.". NBA. January 30, 2012. Retrieved 2014-07-06.
  8. ↑ Smith, Greg (April 28, 2014). "Loanmart Suspends Clippers Sponsorship". Black Sports Online. Retrieved 2014-07-06.
  9. ↑ "LoanMart Racing". Google+. Retrieved 2014-07-06.
  10. ↑ Crowley, Jon (August 23, 2013). "LoanMart Racing Heads to Reno, Nevada for Wild West Shootout". Side x Side Industry News. Retrieved 2014-07-06.
  11. ↑ "LoanMart Racing expands Off- Road Team by adding Pro Buggy Driver Dave Mason Jr". Lucas Oil Off Road. Retrieved 2014-07-06.
  12. ↑ "Loan Mart Partners With Team Lucas for Second Straight Season". SEMA: Specialty Equipment Market Association. Retrieved 2014-07-06. |first1= missing |last1= in Authors list (help)
  13. 1 2 "Project Loan Mart". 3B Digital Studios. December 16, 2013. Retrieved 2014-07-06.
  14. ↑ "Hulk Hogan-Loan Mart-Banker". Blare Films. Retrieved 2014-07-06.

External links

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