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Cbx Pay Day Loans Announces The Introduction Of A New And Fast Service Called Club Money
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CBX Pay Day Loans trading as Club Money is the latest evolution of businesses and companies that started initially by trading in the Entertainment, Cinema and Drive In Theatre businesses back in 1970.
With a technical background in Telecommunications with the Post Master general’s(PMG) department in 1968, Ken Hill started up a dance and lighting company that ultimately transformed into a Cinema and Theatrical supply and service company.
With this background Ken started a business called AURA PROMOTIONS that use to run Rock concerts around Victoria.
Ultimately this business transformed into a Country Cinema chain operating in rural Victoria in places such as Donald, St Arnaud and Seymour.
With the success from these cinemas Ken then took over a suburban cinema called the Astro Jet at Tullamarine.
One of Ken’s early clients was the Barrel Cinema in Swanston St which was little more than an old retail shop but in reality was the first specially built Adult Cinema.
This provided him with the idea to set up another similar cinema at 264 Swanston St. The old retail space previously operated as a men’s Leather shop called Shaft.
Liking this name he called the new cinema the Shaft Sinema. This turned out to be one of the longest surviving Adult Cinemas in Melbourne trading for nearly 40 years.
At the same time Ken having a passion for mainstream cinemas started buying Country Drive In Theatres.
This not only satisfied his appetite for family entertainment it also introduced him to the hard realities of financing with some interest charges to buy these theatres reaching 21.5% p.a. and that was bank finance.
This was the start of his interest in trying to get on the other side of financing.
Although this was a heavy interest charge it was actually video tape that saw the demise of most of the Drive In Theatres.
Fortunately though the Adult cinema business was not adversely affected by the introduction of video tape.
This allowed another evolutionary change to get involved into buying movies, both in film format for the remaining cinemas and video for the new adult market.
During the 80’s Ken took over other cinema called the Club, the Albany, The Star all based in the CBD. He also built the Lumiere Cinema in Lonsdale St which operated for many years as an Art house.
The Club Cinema moved away from family films and was later branded Club X.
The Club X chain has grown over the last 35 years to operate over 50 retail and entertainment businesses.
Ken also opened a Convenience Chain called Cub Convenience and purchased a safe and security company called Kelly Security with the biggest client being the state Bank of Victoria but also dealing with most of the other major banks.
The evolution continues today with successful operations into the supply of Energy Drinks, one of the most successful Audio Visual Companies and aviation interests.
However the personal unpleasant experienced gained back in dealing with the Banking Industry was always a target for him to develop a financial model that treats customers more like a friend or a Club Member rather than working out how to introduce more penalties to rip off the customer.
The first step into this extremely regulated industry was to seek approval to become a Pay Day Lender.
After some considerable time we established CBX Pay Day Loans Pty Ltd.
But we wanted to share with our customer that we have been on both sides of the fence and decided to market this service as Club Money.
A service where we are very upfront about costs and do not want to exploit our customer with hidden penalties but rather encourage their sensible use of this as an Emergency Short term loan facility.
Club Money officially will launch in October 2014.
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