Key takeaways from a personal loan marketplace study

Supermoney put out a detailed and well discussed state of the personal loan marketplace.  Key take-aways from the study are as follows:

  • The consumer lending market is a favorite source of credit for millions of consumers and it’s growing.
  • Household expenses, debt consolidation, and medical expenses are the main reasons consumers get a personal loan.
  • However, the growth rate of new loan originations is stagnating.
  • Nevertheless, the consumer lending market still shows solid economic fundamentals.
  • The access to credit for consumers has increased and so have personal loans’ balances.
  • Delinquency rates are low.
  • Interest rates are rising, which could reduce consumers appetite for credit.


There’s a dramatic shift going on in consumer finance. What was once dominated by brick and mortar banks and credit unions is quickly being taken over by alternative digital lending sources. The ease, availability, credit profiles, and terms of loans using FinTech lending sources, such as SweetPay and its lending affiliates, is the major driver of this shift. We only see the shift towards FinTech lending continuing through the end of the decade.


~ David Weyher