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Jul 20 2010

Repeat Loans drives 76% of total payday loan volume

Posted by PaydayLoanSavvy.com in Payday Loan Industry

In a normal year the payday loan industry generates about $27 billions of dollars in loans. The payday industry operates in 35 states with about 20,000 plus brick and mortar locations. About 76 percent of their loans are where a another loan is made during the same two week period after the previous payday loan is paid off.

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