Borrower profile – who and for what loans?

Based on the Poles Payment Index of November 2018, the backlog of credit and non-credit obligations at the end of September was still growing. Currently, the total amount of Poles’ liabilities is over 73.3 billion PLN. Comparing this information to the data from November 2017, this sum increased by as much as PLN 11 billion.

Client profile of loan companies – the financial situation of Poles

Client profile of loan companies - the financial situation of Poles

Interesting is the positive attitude of most people when it comes to assessing the financial situation over the next 12 months. What does it mean? 39% of them believe that their situation will improve, and 41% indicate that it will be the same. It’s not perfect, but people believe in themselves and their abilities.

In case something goes wrong, we start looking for different options to solve the problems. In financial matters, Poles turn to banks and loan companies. In recent years, the financial market has been changing dynamically and newer and newer offers are being introduced, tailored to the needs of clients. Internet loans, simplified procedures and minimum formalities are the facilities that tempt us with these institutions. But who takes loans and for what? Check with us!

Borrower’s profile – what financial products do we use most often?

Borrower

The entire spectrum of possibilities is available on the financial market in Poland. You can choose from: bank loans, bank and non-bank loans, financial assistance from families, purchase in installments, against collateral and many, many more.

As many as 1/4 of the 992 respondents in the last 5 years have used a bank loan from the survey carried out by the Public Opinion Research Center Foundation in 2016. Second place is installment purchases (16.3%), followed by payday loans at a loan company (6.7%).

Borrower profile – who most often uses payday loans?

bank

The non-bank loan customer group is very diverse. These are primarily people who:

  • They assess their own material conditions as bad
  • have primary or lower secondary or basic vocational education
  • they live in cities of over 50,000 and more
  • payday loans are most often taken by older people aged 55-64

Which loan companies do we choose?

Which loan companies do we choose?

Loan companies direct their offer to two main groups of recipients. Lenders with their stationary points direct their offer, above all to people whose financial situation is in worse condition, as well as to the elderly who are not in the electronic world. On the other hand, companies providing quick online loans direct their offer to young people who are perfectly using technological innovations and finding themselves on the Internet.

Regardless of how the loan company operates, customers usually do not have creditworthiness due to poor living conditions or lack of a permanent job. As a result, they are excluded from the traditional banking services market and cannot take advantage of cheaper bank loans. The choice falls on non-bank loan offers, which are often the only solution for them.

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