I’ve been asked these same questions about payday loans so many times that I decided it was time to address them all in one go: If you’re a lender, you’ve probably encountered these questions too. Payday loans occupy a distinct position in short-term financing. Understanding why they are classified as such and how they differ… Continue reading Why Are Payday Loans Called Short-term Loans: Key Insights for Lenders
How to Offset High Collection Costs of PayDay Loans with a Loan Management Software
High collection costs from payday loans can place a significant burden on both lenders and borrowers. With default rates often high on these short-term loans, lenders face the tough challenge of staying profitable while managing overdue payments. Payday loans, with their steep interest rates and tight repayment windows, demand a streamlined and efficient collections process… Continue reading How to Offset High Collection Costs of PayDay Loans with a Loan Management Software