Charles Brennan, majority owner, Founder and CEO of Dollar Loan Center, lives with his wife and children in Las Vegas, Nevada, home of the first Dollar Loan Center. Here, Charles Brennan discusses Dollar Loan Center’s contributions to the Las Vegas, Nevada community in an interview with A Gathering of Experts.
A Gathering of Experts: Thanks for joining us! Please tell readers a little bit about yourself.
Charles Brennan: Thanks for asking me to participate. I am a Midwestern boy who grew up with big dreams of being in the Rock and Roll industry! I have always been an entrepreneur.
A Gathering of Experts: That’s quite the combination! How did you end up founding Dollar Loan Center in Las Vegas, Nevada?
Charles Brennan: I was a little precocious as a teenager and went to work for Citibank while I was a junior in high school. These first experiences seeded my interest in lending, collections, finance and eventually led me here.
A Gathering of Experts: What services does your Las Vegas, Nevada based company provide?
Charles Brennan: Dollar Loan Center provides short-term signature loans that help people bridge their financial gaps in life.
A Gathering of Experts: Would this be a payday loan center, then?
Charles Brennan: Dollar Loan Center sets itself apart from typical payday loan centers in Las Vegas, Nevada and elsewhere by not charging upfront fees, requiring collateral or charging interest or fees beyond the length of the loan. We do not even require a checking account.
A Gathering of Experts: What do borrowers typically use the signature loans for?
Charles Brennan: Borrowers can use the loans for anything, but financial emergencies are the biggest reason borrowers come to Dollar Loan Center. They save a LOT by using us instead of paying an overdraft fee or late fee.
A Gathering of Experts: How do borrowers apply for a short-term loan with Dollar Loan Center?
Charles Brennan: Dollar Loan Center makes it really easy to apply. Borrowers can apply online at any time at dontbebroke.com or can visit any one of our 80 stores, located in Nevada, Utah, South Dakota, and California.
A Gathering of Experts: Are there qualification requirements?
Charles Brennan: Certainly. Borrowers must have steady employment and the ability to re-pay the loan. We do run credit checks on our borrowers and report their good credit history also.
A Gathering of Experts: What if someone has bad credit; should they forget about a Dollar Loan Center loan?
Charles Brennan: Absolutely not. Dollar Loan Center prides itself in providing loan products for every credit situation. We try to weed out any fraud of course, but, unlike most banks, it is our goal to get the customer their needed funds.
A Gathering of Experts: How many loans can a borrower receive from Dollar Loan Center?
Charles Brennan: There is no limit; however, Dollar Loan Center encourages borrowers to use signature loans responsibly as to avoid creating insurmountable debt problems.
A Gathering of Experts: Do borrowers need to re-apply for every loan?
Charles Brennan: No, once a borrower establishes a credit line with Dollar Loan Center, their information is kept on file for later, additional loan applications. As a matter of fact, over 1/3rd of our locations have a drive-thru so the customers can get their funds as quick as a taco.
A Gathering of Experts: Dollar Loan Center calls itself a “community lender”; what does that mean?
Charles Brennan: Dollar Loan Center is committed to giving back to the other communities where our stores are located. We also continue to support nonprofit organizations doing good work for the children of those communities.
Charles Brennan grew up in Sioux Falls, South Dakota, and has enjoyed careers in both the music industry and finance. He resides in Las Vegas, Nevada with his family. Charles Brennan encourages readers to find answers to their questions by going to Dollar Loan Center’s website, dontbebroke.com.