The pay day and short-term loan industry is alive and well, according to one expert.

Don Early, the chief executive of a Kansas-based lender, said that despite the current economic environment and a political backlash against instant cash loans, the industry is performing well.

He was speaking after QC Holdings announced income of $2.2 million in the second quarter of the year.

Mr Early spoke out against lawmakers who were trying to take away the option of pay day loans from those Americans who need access to emergency funds.

In particular, he cited legislature passed in Ohio, describing it as "inappropriate" and "politically-motivated.

"If we are unable to find such a product or service, we will be forced to close our remaining branches in Ohio," he said.

Last year, 19 million US households used pay day loans to fulfill their immediate and short-term financial needs.

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