Diamond Castle Holdings, Golden Gate Capital – Community Solution Financial
(Written jointly by personal Equity Stakeholder venture and People in the us for monetary Reform)
Community solution Financial (CCFI) ended up being 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 from the grouped Community Selection 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 regarding the 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 check always Cashing United States Of America. Community solution Financial additionally runs as Ca Budget Finance, Quick money, PLS Financial Services and Cash 1 pursuant to a permit contract.
Community solution Financial provides short-term payday advances in 453 of the 518 shops. During 2016, Community solution Financial produced a lot more than $1 billion in loan amount (originations and refinancing).[iii]