Who Borrows and Why?

Most payday and auto title borrowers are working families, senior citizens, and military families who struggle to pay for rent, bills, and other basic needs.  Payday and auto title lenders depend on these repeat borrowers for the bulk of their revenues, rather than borrowers with an occasional financial emergency.

The infographic below was produced by the Pew Charitable Trust. Please click on the image for more detail.


Pew’s Safe Small-Dollar Loans Research Project surveyed payday loan borrowers about their usage, as well as other options they would use if payday loans were unavailable. The findings present new data on borrowers and challenge the conventional wisdom surrounding payday loan usage. This research will help policy makers consider the best ways to ensure a safe and transparent marketplace for small-dollar loans.
To learn more, visit our collection of Payday Lending in America resources.