Research Proposal Paper Example | Topics and Well Written Essays - 1250 words

Proposal - Research Paper ExampleThe feasibility includes exploring options of locating the birthday loan answer in a convenience store that is accessible. The room pass on have a counter for disbursing funds and maintaining records. Research will include state and local requirements for establishing payday loan service as a sole proprietorship, competitors depth psychology for internal assessment for crafting payday loan service strategies, and a market analysis to study the lending rates and charges in relation to pay loan go in Kansas State. Introduction The writer is the owner/manager of Quick Stop & Go convenience store without gas serve. The writer intends to add an additional service as Payday Loan using an extra space available in the store that is a single store non chain store. Above knowledge clearly describes the purpose of accessing payday loan. Yet, there is a need to analyze in which terms payday loan will be helpful for the store as compared to early(a) types of loans and to which extent it will be productive in increasing the profitability of store by efficiently utilizing idle assets of the store. As payday loans have become more than popular in recent years. The important feature of the payday loan is that it is readily and easily accessible. Payday loans have many benefits as compared to the other loans. For payday loan, only proof of employment, beach building account and income is required and paper work requirements are also very limited. Terms and conditions of payday loans are also fixed like other loans but the borrower gutter get flexibility according to its need. So, profitability can be increased by using loan according to current situations. Research questions 1. Who are the users of payday loans? 2. Do the payday loans solve their financial problems? 3. What is the eligibility for obtaining a payday loan? 4. Who are the competitors in the market? Purpose statement To promote access to diverse, healthy and comprehensiv e financial services for house turn outs in Kansas. This will be through offering cost-effective loan rates and innovative methods of loan applications for customer convenience. Literature Review What is a payday loan? Payday lending business will provide short terms loans for a maximum period of two weeks, to households who are in need of money or individuals that do not opt for other sources of credit.Caskey and John (2012), define a payday loan service as a loan gotten from a business that is not a bank. These businesses operate under different titles and take postdated checks as collateral. Hodson (2009) describes a payday loan as a short term borrowing where the borrower borrows money at a high interest rate. The borrower writes a postdated personal cheque in the month they wish to borrow including a fee in exchange for cash. The borrower does hold onto the cheques and cashes it on the agreed upon date. How pay day works The borrower visits a lending store and secures cash, whi ch is due in full at the borrowers next pay day. The borrower then writes a post dated cheque with the full amount including the fees. Upon maturity of the check, the borrower returns the loan and if he fails to, the lender redeems the cheque.The borrower incurs a bounced cheque fee from his bank plus the cost of