Customer Demand, Demographics and Satisfaction

The following survey findings were sampled from actual customer records and yielded statistical representation at highly acceptable confidence levels. In national and state studies combined, nearly 6,000 payday advance customers were surveyed and the results were strikingly similar. Findings from all studies indicate that payday advance customers are middle income, educated young families, who are overwhelmingly satisfied with the service.           

Highlights

Payday Lenders Provide Desired Service to Lower and Moderate Income, Middle-Educated, Young American Families

Study by Yale and Dartmouth Economists Finds High-Risk Borrowers Benefit from High-Rate Loans

University of Chicago Researcher Finds Payday Loans Benefit Communities Affected by Natural Disasters

Payday Advance Credit in America: An Analysis of Customer Demand, Credit Research Center Georgetown University, 2001

Payday Advance Customer Satisfaction Study, Cypress Research Group, 2004

State Specific Customer Studies

Arizona Payday Advance Customer Study (PDF)

California Payday Advance Customer Study (PDF)

Illinois Payday Advance Customer Study (PDF)

A Critique of 'Race Matters: The Concentration of Payday Lenders in African-American Neighborhoods in North Carolina' (PDF)

North Carolina Payday Advance Customer Study (PDF)

Pennsylvania Payday Advance Customer Study