SMS loans are always a popular topic to discuss. Many have very definite opinions on this issue. For example, we at Tyrone Slothrop have many people who visit our pages with information about this type of loan. It is therefore a little interesting to look at the figures that SMS Pengar Norden AB has chosen to publish. oryxoman.com has more notes
These are statistics that are based on the applications received by the company in November 2010. During this period, the company received 1,930 applications, of which 1,526 came to be approved and paid.
For example, they lent money to 70 people in November who had payment notes. This is a very small part of all the 1,526 loans they paid out. Perhaps one can learn from this that not many people borrow even though they have payment remarks that it can sometimes sound in the media. It is important to remember that SMS money is one of quite a few companies that does not deny this type of application automatically. Which makes it reasonable to assume that the statistics look similar to other lenders. Then it should be said that this is just a guess on my part as it is not usual to publish statistics in this way.
When will the applications come in on the day?
As you can see by the bars above, most applications come in during the morning. Then it kicks off during the day to have a small peak in the late afternoon. However, the applications do not stop coming in for it but they continue to roll in until quite late in the evening.
Here, too, you can see when the money is paid to the customers. Here it will be a fairly natural peak in the morning as applications that arrive late are not paid before the morning after.
It is often emphasized that young people take SMS loans. This is something that the statistics from SMS money do not show. The average borrower is 40.2 years old. The annual income is approximately SEK 205,000 on average. The gender is fairly even when it comes to applications. Men account for 52% and women for 48%.
Now these are just statistics from a company for a month. But you can also see some interesting things, such as that the borrowers are relatively older than you previously thought. Then it also turns out that those who apply for a loan are not the ones with the highest income, which was probably expected. Other conclusions I leave enough to you to draw.