Business partners Michael G. Rinoldo of Flushing and Paul Starkof Fenton have become the master franchisee for Michigan. They saidtheir first Michigan unit will open this month at 2885 Bay Rd. inSaginaw. Philip Locke, president of Royal Oak-based Advantage CashCorp., announced the agreement.

"Our concept is based on good customer relations and loans atcompetitive rates," Rinoldo says. "The business model was used byPhil with Cash Now, a chain of similar stores he built in metroDetroit from zero to 30 in six years and doubled his number ofstores last year by adding 14 stores. Payday advances are one ofthe fastest growing segments of our economy. Just last year, fourmore national payday loan companies moved into Michigan."

Locke says the company plans to open some 1,800 Advantage CashAdvance units in 36 United States where payday loans arelegislated.

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