Roderick Aycox And His Highly Successful Car Title Loan Based Business Model

Roderick Aycox is a name that isn’t included in the list of world’s richest men but he is surely known as the pioneer for introducing the notion of ‘quick and easy loans’ in the money lending industry. He started out as a simple graduate who used to earn his living by doing the job of a simple salesman for second hand cars. But the creative mind of Roderick Aycox was inclined towards the unique entrepreneurship idea that had come in his mind. So, Roderick Aycox saved some amount of money as fund for setting up a small business of lending money as car title loans on exuberantly high interest rates.

There were people who couldn’t get bank loans either due to credit score problems or due to the time consumed in the banking process. So, these people started reaching out to the small company of Roderick Aycox for getting really quick financial help although they had to pay interest rates that reached 250-300%. This happened in the early 1990s but it actually helped in setting up the base for the multi million ventures which is today known as Select Management Resources.

Rod Aycox

Soon by the end of 1990s Roderick Aycox found himself immersed in huge profits owning to his excellent and out of the box business model. He soon opened company outlets and expanded his business at a very quick pace. His outlets were more than a few hundred in number and they were spread over more than 12 states. Now many of the car title loan outlets are known by their location specific names like Atlanta Title Loans, Loan Max etc. The car title loans offered by Rod Aycox are very lucrative in nature because you could get the loan amounts in just 20 minutes at most.

His company Select Management Resources which is located in Georgia offers car title loans to lower and medium income group people who own a vehicle. The vehicle is the like the loan security in case of nonpayment. Due to the extravagantly high interest rates the business model created by Rod Aycox suffered its share of controversies but at the end it has emerged out as a glorious business model which has been highly successful.

In the year 2013, Rod Aycox’s company even handed out a check of one million to Resource Our Future. His company has even given political contributions which amount to over nine million US Dollars which further represent the success of Rod Aycox as a businessman.