a show on paycheck financing in Louisiana. Provided from the with each other Louisiana Statewide Factors seminar on January 15th, 2014.

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1. Pay check Lending in Louisiana state problems discussion January fifteenth, 2014

2. Exactly who? strategies? WHAT?

3. Who Uses A Pay Check Finance?

4. Family with kids generating $15,000 — $40,000 each year Disproportionately AfricanAmerican or Latino dismal credit History Need supplemental income for problems and basic cost of living public Safeguards individuals

5. What number of individuals pull out payday advances in Louisiana?

6. Paycheck loves Louisiana 23% of Louisiana homes count on predatory credit 6th highest inside the nation us all Normal: 18percent About 57,000 Louisiana homes sign up for payday advance loan every year supply: Louisiana spending plan visualize

7. Paycheck Business Design

8. Pay check Business Model Billions & billions served # of McDonalds # of Pay check stores 12,800 20,600 230 936

9. Pay day Business Model = numerous returning loans and so the debt hold. Nearly all payday advance loan pay a visit to “immediate repeat borrowers” unique money earned within a two few days time 76per cent Loans to onetime owners 2percent Initial lending products to returning individuals 11percent brand new loans after 14-30 week pause 6per cent brand new finance after one month stop 5percent

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