FACT: 57% of working families earn above a livable wage in the U.S.

So… that means 43% can barely make ends meet! They need OPTIONS!

Why Households Must Have Access to a Multitude of Choices for Solving Financial Emergencies.

The choices that should be maintained and fought for by humans, voters, politicians 🙂 , lawyers 🙂 ?

Payday loans, installment loans, line-of-credit loans, car title loans, Buy Now Pay Later, Early Access to Wages, collateralized loans [pawn, crypto, art, NFT’s, collectibles, cars, real estate, future earnings…]

Key findings

  • 57.2% of working Americans are in occupations where the median pay is greater than the living wage for families with two working adults and a child. This percentage jumps to 65.3% for one adult living alone, but plummets to 21.7% for one adult with a child.
  • The District of Columbia offers the best chance for two working adults with a child to earn a livable wage. In D.C., 75.4% of workers are in occupations that pay more, on average, than the local livable wage of $20.69 per working adult. North Dakota (71.0%) and Alaska (70.9%) are second and third, respectively.
  • In four states, less than 50% of workers are in living wage occupations suitable for two working adults and a child. In California, 46.9% of workers are in professions that pay more than the local livable wage of $21.76 per working adult — worst across the U.S. Arkansas (47.6%), Hawaii (48.4%) and Louisiana (49.7%) join California as the others below 50%.
  • Even in the most uncomplicated household structures — one adult living alone — between 20.1% and 49.1% of people aren’t in occupations where most workers make above the living wage, depending on the state. In North Dakota, 79.9% of people work in professions that pay more than the livable wage of $13.08 for single adults, versus 50.9% in Hawaii at a livable wage of $19.43.

What’s this mean? OPPORTUNITY! Done right, lending $$ to the masses is doing the right thing for them, for you, for your employees, for your community. 

Know that each of the massive, publicly-traded lenders [think Enova, Curo, Elevate, World Acceptance…] only have a maximum of 3% of our industry. And a few are currently lending to subprime consumers at $300,000,000 per quarter! Unthinkable!!

Read the original @FastCompany Report HERE.

How to Start a Consumer Loan Business

3% of the Market = $320M 3rd Quarter Subprime Loans

Lenders, where do you get solid, accurate information about your industry? Workshops conducted by lawyers, who want you to put them on retainer? Talking to your buddies over scotch after the Conference workshops conclude. Oh, I know. You seek the counsel of vendors who have never loaned a nickel of their own money but are willing to share what they perceive to be the “secret” metrics, techniques, and strategies for lending YOUR hard-earned dollars to the Masses by paying for THEIR 3rd-party solutions!

So you ask, what’s different about YOU, Jer? Don’t you have your hand in my pocket as well? Jer, have you ever loaned a nickel of YOUR money via the Internet to some down-and-out consumer who lacks the funds to keep on the lights? Pay for a kid’s prescription? Fix a broken-down car needed to keep a job?

My response? YES, YES, and YES! I opened my first payday loan store in Garden Grove, California in late 1997. Day-by-day I worked and sweated to build 15 locations. [If you’re reading this and want to hear about loaning money to phone sex call workers, reach out. There happened to be a call center in my payday loan store building.] Then, I discovered the Internet! Then, the SMARTPHONE! Today, crypto, the lightning network, Defi… all are destined to upend the business of lending to the masses. [But, that’s another conversation.] The rest… is history. Equity in multiple stores, equity in both state-licensed and Native American Tribal [Federally recognized, sovereign Nation] portfolios, consulting gigs with VC’s, hedge funds, tribes, mom & pops, private investors, family offices, seed round participation in infrastructure platforms focused on “lending to the masses,” Board and Advisory positions, Fintech startups… I live and breathe this industry! It’s the “juice” that drives me. [I’m no golfer! Retirees RUST!]

My Point? Tap into relationships with those who have “walked the walk!” Enova fits this mantra! So, read and learn.

Background: Enova International[ENVA] is a publicly-traded company in “The Business of Lending to the Masses.” Translated, that’s SUBPRIME LENDING! Founded by @AlGoldstein in 2004 as @CashNetUSA [The Check Giant LLC], acquired by CashAmerica in 2006 for $35M in cash, spun off as Enova and taken public in 2014. 16 years in the subprime lending space. Served 7M customers. Originated $27B in loan originations! Focused on the USA & Brazil to a lesser extent.

Fact: There is no large player in the subprime or near subprime space! Fragmented! Meaning? There still remains a SUBSTANTIAL opportunity for de novo entrants and seasoned lenders to achieve significant success in lending $$$ to the Masses!

3rd Quarter performance In a Nutshell

Enova’s stock price has increased 50% over the past 12 months! Chargeoffs dropped down to 4.2%. Loan originations scaled 26% to $856,000,000; six times higher than last year’s 3rd Quarter! This is the second consecutive quarter Enova has produced sequential growth above 25%. They accomplished this during COVID-19! They only have 3% of a VERY FRAGMENTED MARKET!

“Originations from new customers increased to a record 43% of total originations, up from 39% in Q2 of 2021 and well above 11% in Q3 of 2020.”

Single-payment loan products now make up a mere 2% of Enova’s loan portfolio! [Thus my @JerAyles constant emphasis on offering installment, line-of-credit, car title… loan products when consulting with my clients and portfolio managers! Simply TOO MUCH BAGGAGE attached to “payday loans.”]

Of note on the Enova conference call:

“Yeah. I think you said it right, David. It’s kind of a resounding no. I mean, there is a lot of noise. But I mean, there’s no large player in the subprime credit card space. There are some small options out there, but they’re always have been and it’s mostly kind of high near-prime borrowers, not deep subprime borrowers, and that, obviously, a lot of talk of buy now, pay later. But that’s almost exclusively prime and super-prime. There’s really no big player that’s really done any kind of volume in the subprime or near-prime space where we focus most of our efforts.”

“And I think that’s always been one of the things that have differentiated us instead of supporters are kind of conviction on that subprime and your prep space, where there has been less competition and continues to be less competition.”

For a complete transcription of Enova’s 3rd Quarter earnings report, click the Enova link above. Additionally, there is always interesting analysis about Enova found on

If you are or want to be, in “the business of lending to the masses,” REACH OUT TO ME: Jer Ayles 702-208-6736

How to Start a Consumer Loan Business
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