Community Financial solutions Association of America (CFSA) pay day loans plus the Borrower Experience: Executive Overview

Community Financial solutions Association of America (CFSA) pay day loans plus the Borrower Experience: Executive Overview

5 for many borrowers, one or more of the other money ended up being available once they thought we would just simply take down a payday

loan alternatively 9 suggest that a cash advance ended up being perhaps perhaps maybe not their sole option, and so they had other resources offered at enough time. Among borrowers who’d at minimum one other available resource at that time they made a decision to remove an online payday loan: o almost four in five (78%) state they opted a quick payday loan over other choices it being faster (71%), and/or simple and easy to understand (70%) because it is more convenient; and o Seven in ten cite. Read more