The Facts

* An estimated 40% of payday loan recipients seek such loans only after rejection by traditional lenders.

* Payday borrowers, contrary to popular belief, are educated and employed.

* Regulations in other states have forced many such lenders out of business, limiting credit options for those that the laws supposedly were designed to protect. 


* No attempts should be made to add further barriers to payday lending and restrict access to capital for those in need of short-term loans.