Cash Converters International Ltd (CCV) is an ASX listed provider of personal loans and second hand goods retailing. Formed in 1984, the group now has a global network of 717 stores across 21 countries including 118 company owned stores:63 in the UK and 55 in Australia. After beginning in Perth, Western Australia the group grew through a franchise model domestically and internationally, primarily providing traditional pawn broking services, that is offering small secured loans and selling second hand goods.
More recently, the personal loan business has become the main driver of profits contributing to 80% of profits in FY13. It has been the key growth driver and it is expected to continue to grow, through both its traditional channels and an increasing online presence.
The Cash Converters International Ltd 7.95% 19 September 2018 senior unsecured bond suits investors with a higher risk / return profile and are comfortable with exposure to the alternative lending sector.