Bucyrus is located in the Crawford County in Ohio and is also its County seat. The city is located about 60 miles southeast of Toledo. Its total population as of 2010 was about 12,500. It is also the largest city in the county. The local economy is pretty diverse with major sectors being agriculture, manufacturing and healthcare. Some of the industries include roller bearings, plow blades, shoes and lighting. The biggest employers in the city are the Avita Health system and Hold Family Farms and Ohio Mutual Insurance Group.
The demand for short term payday loans have soared in the past couple of years because of the new rules coming into place. According to which you cannot borrow if you have more then $2,500 as pending debt. And still you can only borrow up to $1,000 for a maximum term of a year. The minimum payment window is 91 days. But the biggest change has been in the interest rates and fees. Now the maximum APR is set to 28% and interest and fees has been capped at 60%. This has been the main reason for a surge in short term loans, it has actually become viable to take a payday loan and not get stuck in debt.