with lower interest rates, compared to other local and microfinance loan providers. Also, World Bank reported the increase in income was due to the strengthening of small businesses as a result of larger access to funding, while the growth of companies generated jobs. As a result, these sources of work beneficiated low-income population segments that are the target market of Banco Azteca, which improved income distribution. Advance America Advance America is a payday loan provider in the United States, founded in 1997. As of December 31, 2013, Advance America operated over 2,500 lending centers in 29 states and 18 centers in Canada. Advance America's current President and CEO is Jim Ovenden. William Webster IV is chairman of the board. Advance America provides its cash advances in small-denomination, short-term amounts. The advances are due on the customer's next payday. Advance America does not franchise any of its centers in the United States or Canada and does not provide pawn lending. The company is a member of the Community Financial Services Association of America. Others Seguros Azteca offers life and liability microinsurance that can be acquired at affordable prices in Mexico and Latin America. Afore Azteca offers pension fund management with the support of the extensive geographical coverage of Grupo Elektra. Advance America is a short-term non-bank loan provider in the United States and, Punto Casa de Bolsa offers financial brokerage services to the middle class of the population. Finances History 1906: Salinas y Rocha founded as a furniture store. 1950: Hugo Salinas Price creates Elektra. First Mexican company to manufacture televisions sets. 1954: Starts selling merchandise on credit. 1987: Ricardo B. Salinas is named CEO. 1993: Begins offering electronic money transfer services. 1997: Expansion into Latin America starts. 1999: Retail chain Salinas y Rocha is acquired. 2002: Banco Azteca Mexico starts operations. 2003: Afore Azteca starts operating. 2004: Seguros Azteca begins offering its services. 2005: Assembly and selling of Italika-branded motorcycles starts. 2008: During 2008, the company bought 28% of struggling retailer Circuit City. The company soon went bankrupt after being unable to find another buyer. 2012: Advance America is acquired. Punto Casa de Bolsa starts operations. References External links Corporate website Official website Financial services companies established in 1950 Retail companies established in 1950 Companies listed on the Mexican Stock Exchange Companies listed on the Madrid Stock Exchange Companies formerly listed on the New York Stock Exchange Companies based in