Payday loan provider QC Holdings reports revenue, profit increases

QC Holdings Inc. reported a small increase in first quarter revenue but a larger profit, thanks partly to higher fees and interest income from the company’s installment loan products.

The Overland Park-based payday loan and consumer finance company, said revenue climbed about $700,000 to $37.4 million for the three months ended March 31 compared with the same period in 2013.

Net income was $3.45 million in the quarter, up from $2.01 million in the first quarter last year.

QC also said loan losses increased $1.2 million during the first quarter to $7.7 million.

The Star