Cash America’s story began in 1983, when founder Jack Daugherty had a dream of building a nationwide company that would provide financial services to a customer base that he knew had been ignored by traditional financial institutions.
The base for Mr. Daugherty’s dream was one pawnshop he had operated quite profitably for many years. He not only understood the simplicity of the pawn transaction, but also the intricacies of managing a pawn business. Just as importantly, he understood his customer and recognized that “THE CUSTOMER COMES FIRST” attitude always enhances the success of any business venture.
From the first pawnshop, Cash America has steadily grown with a combined strategy of acquiring existing shops and opening new locations. In 1992, Cash America acquired Harvey and Thompson, the largest pawnshop chain in the United Kingdom. In 1994, the Company acquired the largest chain in Sweden, Svensk Pantbelåning. In 1994 the Company acquired Mr. Payroll Corporation, the nation’s largest convenience store based check cashing service.
In August, 2003, the Company announced the acquisition of Cashland, an operator of a chain of consumer finance centers offering payday advances, check cashing, money transfer, and similar services.
In September, 2004, the Company announced the sale of its European operations. The company also announced an agreement to purchase SuperPawn, the largest U.S.-based independent pawn operator.
In December, 2004, it was announced that the agreement to purchase SuperPawn was completed. This acquisition allowed Cash America to enter four new western states.
On september 18, 2006, Cash America announced the acquisition of CashNetUSA and entered the Internet-based Payday Advance market. CashNetUSA provides Payday Loans to customers in 27 states.
Today, Cash America is the largest operator of pawnshops in the world.
