The info in this paper had been supplied by a sizable, anonymous payday loan provider and comprise of all of the loans created by this loan provider in 26 states between January 2007 and August 2012. Figure 1 maps the continuing states within the information. The information have no demographic information regarding borrowers, but loans meant to similar debtor could be linked across time and location. The road target associated with storefront from which the mortgage had been made is well known. The information consist of all proportions associated with loan agreement, along with its payment history. The financial institution makes no direct loans that are online though it relates clients to online lending affiliates through its internet site. The dataset contains just straight made storefront loans.
The info comprise of 56,143,566 loans made at 2,906 various shops to 3,428,271 customers that are distinct. When loans that are simultaneous combined and regarded as solitary loans (as explained below) this quantity falls to 54,119,468, for on average 15.8 loans per client. But, the median amount of loans per consumer is 7, showing the skewness of this circulation. (more…)