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money mart loans payday loan online

Payday lenders growing faster as compared to banks

Since April 2016, 3 million extra pay day loans totalling $1.85 billion have loans like money mart loans already been authored by about 1.6 million Australian households, in accordance with research carried out by Digital Finance Analytics.

Outside Link Datawrapper - Growth in non-bank lenders

The consultancy — which conducts research for a selection of businesses and regulatory systems like the Reserve Bank of Australia therefore the Australian Securities and Investments Commission — discovered within that time about one-fifth of this loans, or around 332,000 households, had been new payday borrowers.