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Community Financial solutions Association of America (CFSA) pay day loans and also the Borrower Enjoy: Executive Overview
5 for many borrowers, a minumum of one of those other financial resources ended up being available if they made a decision to just simply simply take a payday out
loan alternatively 9 suggest that a pay day loan ended up being not their only choice, plus they had other resources offered at enough time. Among borrowers that has at minimum one other available resource at that time they made a decision to sign up for a quick payday loan: o almost four in five (78%) state they opted a quick payday loan over additional options it being faster (71%), and/or simple and easy to understand (70%) because it is more convenient; and o Seven in ten cite.