The CFA report in 2015 identified that, most of the people who had taken out a payday or short term loan are male aged between 18 – 34. They were unmarried and without kids. Like any generalisation, how true was this at the time and then how true is it today?
QuidMarket is a responsible short term loan direct lender. We have written this blog as an informational guide to try and establish why certain professions need payday loans more than others.
Which Professions Need A Short Term Loan or Payday Loans the Most?
Looking at the report from the CFA, it’s easy to think that there is a certain class of people who take out a short term loan or payday loans. Only people who take home is in a certain bracket,
Those who apply for a short term loan or payday loan come from different professions with their own individual problems and circumstances. However, despite the diversity in these professions, there are also a number of common links which some jobs share.
Below is the top 20 professions that take a loan out from a lender:
|1: Nurses||13: Construction Workers|
|2: Professional Care Workers||14: Plumbers|
|3: Health Care Assistants||15: Telecoms Engineers|
|4: Social Workers||16: Train Drivers|
|5: Paramedics||17: Bus and Coach Drivers|
|6: Pharmacists||18: Warehouse Workers|
|7: Retail Sales Assistants||19: Paralegals|
|8: Estate Agents||20: Teachers|
|9: Kitchen Staff||21: Police Staffing|
|10: Consultant Agency||22: Firefighters|
|11: Bank Staff||23: Architects|
|12: Car Mechanics|
The truth of the matter is that there is no such thing as a typical borrower. They come from all backgrounds and are of all educational levels.