Sara Routhier, Director of Outreach and Managing Editor of Features, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overw...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Feb 8, 2021

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What makes personal loan borrowers unique?

Small consumer loans are taken out daily across the country, but the identity of those borrowers is often stereotyped, assumed, and generally unknown. In a unique study from loans.org, demographics of personal loan applicants were analyzed.

Loans.org conducted research from over 1,900 personal loan applicants and reviewed their age, loan purpose, loan amount, credit quality, employment status, and yearly income. In the following infographic, this information is organized and reveals several unique findings.

One of the most significant finding from the research was the fact that over half of borrowers have poor credit scores.

Despite having low credit scores, almost all applicants have some form of employment, whether a regular employment opportunity (81 percent), self-employment opportunity (5 percent), or other (5 percent).

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