Highlight of Company Operations:
The unaffiliated lenders offer customers two types of signature loans in connection with our credit services. In every shops providing signature loan credit solutions, clients can acquire pay day loans, with principal amounts up to $1,500 but averaging about $525. Regards to these loans are usually lower than 1 month, averaging about 16 times, with repayment dates corresponding using the clients next payday. We typically make a charge of 21.75% associated with loan quantity for our credit solutions available in connection with payday advances. In 289 associated with U.S. consumer that is short-term shops providing credit solutions, clients can acquire longer-term unsecured installment loans through the unaffiliated lenders. The installment loans available in reference to our credit services typically carry regards to about five months with ten equal installment repayments due on clients paydays. Installment loan major amounts vary from $1,525 to $3,000, but normal about $2,020. With every semi-monthly or bi-weekly installment re re payment, we make a cost of 10% associated with the loan amount that is initial. At December 31, 2010, pay day loans comprised 95% associated with balance of signature loans brokered through our credit solutions, and installment loans comprised the rest of the 5%.