Cleveland Heights is located in the Cuyahoga County in Ohio and is the 20th largest city in the state with a population of 46,000 back in 2010. But the city has struggled with the financial situation of its citizens with the census indicating that about 20% of the population is below the poverty line. The per capita income is around $31,000. The city started off as a village back in 1903 and has grown a lot since then.
The payday loans situation was pretty abysmal for the borrowers just a few years ago. This all changed with the new laws being adopted by the State of Ohio. According to these you cannot borrow any money if you have more than $2,500 in debt. And even if you are eligible the borrowing amount has been capped at $1,000. PLnearme lenders can only charge you a maximum of 28% APR and 60% as fees and interests. To make the situation even better for borrowers, they get a minimum of 91 days to repay the amount and a maximum term of a year. The interest rates back in the day could reach 400% with only a couple of weeks for the borrowers to repay it. This lead to a lot of debt traps.