Fort Worth is one of the major cities of Texas and the USA’s 13th largest one. Located in the northeast of Texas in the seat of the Tarrant County, Fort Worth boasts a rich history and cultural heritage. It is home to numerous enterprises, cultural events and sights, which make it a major tourist destination. There are broad opportunities for various types of business to grow.
Payday lending is one of these. Given the lenient environment created for payday loan lenders by the lenient local law, they are quite well off in Fort Worth. There are 25 storefront offices in the city, which are run by companies operating in the rest of Texas and the USA: Ace Cash Express, Speedy Cash, Check’n Go, Advance America, and Check into Cash. Every company has a website, so one can apply online and get a loan in less than a minute.
Fort Worth TX Payday Loans Legal Aspects
Payday lenders’ activity in Texas is regulated by the federal and local laws. These companies operate in Fort Worth on a legal basis, and the law does not cap the maximum loan amount one can borrow. As a result, the average APR reaches 662%. The minimum loan term is 7 days, the maximum is not specified. Charges and fees vary depending on the loan amount, rollovers are not allowed.
Prior to signing documents, lenders should disclose to borrowers all loan specifics – size, loan term, fees, payback period, etc., and be maximally open about these to borrowers. All disputes should be solved legally, without the use of any brutal force. Borrowers should ensure they are soluble enough to meet the requirements. Failure to do so can result in a huge debt, which will be increasingly difficult to overcome.
History of Fort Worth
The city was founded in 1849 as one of the 10 outpost to protect settlers against aggressive local tribesmen. Its first settlers were soldiers and frontiersmen. The city was named so in honor of the late general Worth. As new residences would appear near the fort, cattle farming would become the core activity for a generation of residents. The Civil War, economic and climatic disasters of the early 1870s had a devastating effect on the city’s economy, causing its population to drop below a critical level. However, the city began to recover after the completion of the Texas and Pacific Railway, as it became involved in cattle transportation. The boom boosted various entertainment and gambling activities, which plunged the city into lawlessness and violence. Reforms in the late 1800s helped eradicate gambling by the 1900s. During the 20th century, Fort Worth became part of the nation’s oil and gas industry.
Geography and Population
Fort Worth is situated in North Texas at the intersection of the Cross Timbers and Grand Prairie ecoregions and occupies an area of 349.2 square miles. The area boasts a humid subtropical climate and lush vegetation, which explains its rich agricultural background, as it has been home to cattle farmers and ranchers since its inception.
Fort Worth’s population is 874 168 people, and the city witnessed a rapid growth in 2000-2006. Median age is 32.2 years old; median household income is $57 309; the greatest share of households (24.5%) have six-figure annual incomes; median individual income is $29 115. Average home value is $127 552, home ownership is 57.2%, medium rent is $1171. The racial picture is: 64.4% of Fort Worth population are whites, 34.8% are Hispanic whites, 18.8% are African Americans, 3.9 are Asians, 0.4 and 0.1 are Natives and Pacific Islanders respectively. Other races make up a group of 9.1%.
Fort Worth today
Today, Fort Worth is home to numerous tourist attractions, as more than 9 million people from the USA and around the world. There are eleven entertainment districts in the city, concentrating numerous shopping and dining facilities, as well as boutiques, museums, recreation areas, etc. Some restaurants offer unique cowboy cuisine. Fort Worth is home to major companies, such as American Airlines Group, the John Peter Smith Hospital, the BNSF Railway, Chip 1 Exchange, etc. It hosts a professional golf tournament, the Annual Cowtown Marathon, various motor racing competitions, etc.
Some official sources of data we used to build this page: