Approved Cash in Guntersville, Alabama offers payday loans, cash advances, auto title loans, check cashing, tax preparation, gold buying and prepaid cards.
That is an unusually wide range of services for one storefront, and each sits under a different rule set. Alabama licenses deferred presentment providers and title lenders through the State Banking Department, which publishes a licensee list and operates a central database that payday lenders must check.
Alabama caps a payday advance at $500 with a maximum fee of 17.5% of the amount advanced. A title loan is secured against the vehicle and default can mean repossession.
The Google profile for this storefront links to firstchoicepaydayloans.com rather than the Approved Cash domain, which suggests a rebrand or a franchise change.