Unless we’re forgetting something, the last payday loans-focused financial service provider serving the “underbanked” has left Capitol Hill.
A sign went up inside E Olive Way’s Money Mart this week notifying customers of the closure and referring them to the next closest branch — on Rainer Ave S.
There are still plenty of other providers of similar services even closer than Rainier. There’s a Moneytree on Madison, for example, and downtown is clustered with E-Z cash type places. Nothing on E Pike, however. Broadway, in the meantime, has become a home to several large chain banks most of which have reportedly backed out of the payday-style loan business.
Moneytree, headquartered right here in Seattle, is also having good fortune in Olympia where the legislation it is championing “to reshape the state’s payday loan regulations and allow longer-term borrowing” remains very much alive.
A call to the Canadian-based Money Mart’s national headquarters about the decision to close the E Olive Way location has not yet been returned.
Of more immediate, um, interest might be the growing amount of open spaces around the E Olive Way and Denny intersection. The Arabica Lounge — shuttered since the cafe’s February funeral — is still apparently in search of a new tenant while the Bus Stop bar has been empty since spring of 2013 and a sign in the window of Apocalypse Tattoo noted the shop had shifted to a “by appointment only” schedule. As we’ve written before, it’s a street in transition with a new Chinese restaurant, a new sports bar, new owners at the pinball bar, the same old dive, and, coming soon, a s’mores fire pit-outfitted “cakery.” Oh yeah, this new craft cocktail bar might finally open for good soon, too.