Diamond Castle Holdings, Golden Gate Capital – Community Preference Financial

Written jointly by personal Equity Stakeholder venture and People in the us for Financial Reform

Community solution Financial (CCFI) had been created last year by CheckSmart, owned by personal equity company Diamond Castle Holdings, to obtain California Check Cashing Stores, owned by Golden Gate Capital, another equity firm that is private. Although Community solution Financial held an IPO in 2012 and it is publicly exchanged, at the time of March 2017 it had been nevertheless bulk (53%) owned by Diamond Castle Holdings and 13% owned by Golden Gate Capital.[i]

Diamond Castle Holdings co-founder Andrew Rush and Managing Director Michael Langer have actually offered regarding the grouped Community solution Financial board since 2006. Mark Witowski, Vice President at Diamond Castle, has offered on CCFI’s board since 2012. Felix Lo, a Principal at Golden Gate Capital, has offered from the grouped Community Selection Financial board since 2011.[ii]

Community solution Financial runs as CheckSmart, Buckeye CheckSmart, California Check Cashing shops, Cash & Go, First Virginia, Buckeye Title Loans, Simple Money, and look Cashing United States Of America. Community Selection Financial additionally runs as Ca Budget Finance, Quick money, PLS Financial Services and money 1 pursuant to a permit contract.

Community preference Financial provides payday that is short-term in 453 of their 518 shops. During 2016, Community Selection Financial produced significantly more than $1 billion in loan amount (originations and refinancing).[iii]

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