Loan Portfolio Performance--By The Numbers

Following up on my previous post about our revenue growth, I'd like to share some data on our loan portfolio performance (current as of August 25, 2014):

• 129 loans disbursed year to date totaling $129,216.  Of these
• 15 are for energy-efficiency upgrades ($53,969)
• 33 are "standard consumer" loans ($39,273)
• 79 are payday loan alternative, or emergency, loans ($35,974)

* Standard consumer loans range from $700 - $2,000, carry an interest rate of 20% APR (fixed) + 4% closing fee, and can be used for a variety of purposes, including a security deposit, vehicle repair, applying for US Citizenship and paying off high-interest debt

** Emergency loans range from $300 - $500, carry an interest rate of 30% APR (fixed) + a 4% closing fee, and are often used to catch up on rent or utilities, pay off a payday loan and make minor vehicle repairs

• We have 252 loans outstanding totaling $223,785.  Of these:
• 227 ($210,158) are in good standing (on-time), equaling 93.9% of the portfolio
• 25 are 31 + days late ($13,627), equaling 6.1% Portfolio At Risk (PAR)
• Since our founding in 2009, we have disbursed 420 loans totaling $565,393. Of these
• 31 have been for energy-efficiency upgrades ($110,579)
• 215 standard consumer loans ($265,968)
• 67 business loans ($140,608)
• Our all-time defaults total $61,108 on 44 loans. Of these:
• 18 loans totaling $37,404 (61% of the total) were for business loans, which we no longer do
• 17 loans totaling $20,276 (33% of total) were consumer loans
• 9 loans totaling $3,428 (6% of total) were emergency loans

We are thrilled with this portfolio performance, especially given that we continue to serve our target market.  Below are some key data points on our borrowers (at the time of loan application):

FICO (Credit) Score:

• No score: 26%
• 400 - 500: 5%
• 500 - 600: 35%
• 600 - 700: 29%
• 700 - 800: 5%

Borrower Income (Monthly):

• $0 - $1,200: 15%
• $1,200 - $1,800: 22%
• $1,800 - $2,500: 24%
• $2,500 - $3,500: 22%
• $3,500 - $4,500: 8%
• $4,500 plus: 9%

Food Stamp Enrollment:

• 57% receiving SNAP (food stamp) benefits

What are your thoughts on the foregoing data points?  Do you have any questions for us?