Beach List Direct presents the Pay Day Loan Online Applicants file, which consists of applicants seeking pay day loans online. These individuals have either hit a rough patch or are repeat customers who need money quickly to avoid bounced checks and to pay monthly bills before late penalties are applied. Generally, pay day loans have very high interest rates, and 90% of pay day loans go to "trapped borrowers" who seek 5 or more loans per year. The annual interest rate can exceed 400%, and fees skyrocket when a borrower needs an extension. In 2012, the estimated income for online lenders was $14.3 billion.
Applicants can receive loans to take care of short term money problems, emergencies, automotive repairs, medical bills, credit card payments, etc. They must be at least 18 years old, currently employed, and have a checking account and at least two prior pay check stubs to qualify for these loans. An increasingly competitive market in pre-paid cards is emerging to make previously "unlendable" consumers a target market for credit, bank, pre-paid, and re-loadable card offers.
These applicants are ideal for discount, coupon, quick cash, sweepstakes, low income, prepaid phone, refinancing, debt consolidation, and "daily deal" website offers.
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