There is often conviction that the non-bank sector services are only used by people in financial difficulties, with poor credit history, the unemployed and over-indebted. Nothing could be more wrong. It turns out that a large group of clients of loan companies consists of people earning well and being in different ages.
A young borrower
Statistics don’t lie. A large part of the clients of companies from the non-banking sector are young people who are aware and have the ability to manage their finances . Their economic situation is usually good, and the fact that they use short-term loans is usually dictated by the fast pace of life, the comfort of borrowing in this form, and the minimum formal procedure.
The statistical client of the non-banking sector is less than 35 years old , he is well educated with some social and professional status. A statistical customer lives life to the full, realizing his passions and dreams, which are often expensive. Therefore, quick and universal access to an additional injection of money via the Internet is for him the best and natural form of obtaining funds to meet his needs.
A stable 40-year-old
A large group of people using online loans are people over 40 . It is estimated that it is close to 1/3 of all customers of online loan companies. People over 40 usually have more than 50 percent higher creditworthiness than young people classified as so-called Generation Y. The vast majority of clients over 40, as much as 60%, take out cash loans via the Internet and most often devotes them to their dream holidays, renovating a house or apartment, as well as to support their own children. Significantly, over 60 percent clients of loan companies over 40 live in rural areas every day.
Appetite grows with eating
Research shows that over 56 percent borrowers after paying off the first loan, decides in the near future for another financial liability in this form. Paradoxically, the more we earn, the more willing we borrow. Most often, we use additional sources of financing during Christmas and Easter, as well as during summer holidays and winter holidays. Demand for the services of loan companies is also increasing in the early autumn, when parents complete a school layette for their children.
So, as you can see, stereotypes about people who most often use short-term loans have nothing to do with reality. Comfort and speed of borrowing money in this form means that virtually everyone uses this type of service.