Payday lenders and the stock market prices for their publicly traded shares are at record highs.
Why? Because payday loan lenders have been transitioning away from mono-line payday loans for the past several years.
If you’ve been following our advice here at PaydayLoanIndustryBlog.com, you’re no doubt aware that micro-lenders – that is payday, car title, signature, line-of-credit lenders – have been busy creating new loan products for years. That means for many lenders, the stereotypical “payday loan” product makes up less than 20% of their loan portfolios.
Of course, the folks at Bloomberg just figured this out. Too bad they’re too busy to listen to the earnings report calls we enable our readers to jump on!
Enova International Inc. has more than doubled so far this year, the best performer in the Russell 2000 Consumer Lending Index, followed by rival Curo Group Holdings Corp., up 64 percent.
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